5 Tips to Stay in Budget This Christmas Even if You Didn’t Plan

Only about 13% of Americans plan ahead and save for the holidays

The holiday season is in full effect! Retailers are already throwing sales ads down our throats, party invitations will begin to start rolling in, and the kids have a full list of things they want from Santa. This is a lot to take on, especially if money is tight. You may feel overwhelmed by the fact that you have not planned for this, AT ALL. Don’t beat yourself up, we’ve all been there! In fact, only about 13% of Americans plan ahead and save for the holidays (business.time.com). If you find yourself in this situation, check out the tips below.

1. Review your accounts and current budget to see how much gift giving you’ll be able to afford. If you have no extra room in your budget, go through each category to see where you may be able to cut back temporarily. For example, cut back on entertainment, eating out, manicures, etc.

2. Shrink down your gift giving list as much as possible, and scale back on the amount you plan to spend on each person. Think about one special gift you think each person would truly appreciate receiving. (If you have to shop for kids, stay tuned for a post dedicated to that coming soon.)

3. Think about re-gifting or doing a few DIY gifts. DIY gifts are fun and typically inexpensive, but be careful that you don’t end up spending a ton of money on the supplies needed for the project.

Related: Check out these AMAZING DIY gifts!

4. Review your financial goals. Once you see what your long term financial goals are, you may be motivated to spend as less as possible to avoid getting into future financial trouble.

5. Hide the credit cards and use cash. This will be tough, but you will thank yourself once January rolls around.

“Americans put far more on their credit cards in December than they do in any other month — more than $130 billion….”(dailyworth.com).

It’s easier to spend more money during the holidays when you don’t see it coming out of your account right away, but by using credit cards you end up paying more for gifts once the interest is added on. Avoid the trap and end the year with a clean slate.

There are so many other ways you can get through this holiday season without carrying over gift giving debt. Check out these amazing articles that share great ways to survive financially throughout the holidays.

Surviving Christmas Financially!

Have a Merry Christmas on a Budget

Five steps to Christmas shopping without going broke

Dave’s Gift Guide for Everyone on Your List

Avoid The Holiday Shopping Hangover with These Proven Tips & Tricks

16 Fun, Inexpensive Fall and Winter Activities


Download a FREE holiday shopping guide!









Leave a Reply

Your email address will not be published. Required fields are marked *