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Blogmas Day Two: How To Set Christmas Budget
dymond phillips • Dec 02, 2020
Three Step Plan To Stay On Budget For The Holidays
I know firsthand, it can be very hard to set a budget for the holiday season. If you’re anything like me, you want to get the best gifts for everybody. In the past, I used to purchase things I just thought they would like, last minute. But this year I’m approaching Christmas a little differently. I'm planning Christmas gifts for each and every person ahead of time. That doesn’t mean I won't pick up little things if I’m out. By me planning gifts ahead of time, if any of the items that I have on my list go on sale I can grab it. Here’s how I plan my Christmas budget.
Step 1. Write a list of everybody who want to buy gifts for. I know it seems pointless, but I have so many things on my mind right now, I don’t want to forget. Every year, I forget at least one person and I find myself scrambling last minute.
Step 2: Think about the things that you want to get each person. Try to remember old conversations to see if they’ve already said what they wanted. Try to think things that they need. If you can’t figure out a gift on your own, send a text and ask them for a list of 3 to 5 things that they want. You don’t have to get all the things on the list, but that way you can pay the thing for two that you want to purchase. You always get people to say I don’t know, in that case I like to really sit and think about what I want them to have.
Step 3: once you know the gifts that you want to get each person, then you need to research the prices of each item. I like to write a list with the price next to it that way I can at least one up. Once you add up all the gifts and get the total I like to add a buffer of one to $200 just for miscellaneous stuff. That way if I see a stocking stuffer I want to grab for if I have to add a gift for someone new I have the budget to do that.
And just like that you have your Christmas budget. These three steps will help you stay on track for your gift giving. I am definitely a person who never plans gifts, that’s why I’m always scrambling last minute to buy items. Keep this list somewhere that is easily accessible, that way if you have to add a person or a gift you can. Why are you adding that extra money as a buffer, if you have to switch a gift for someone you can stay in the price range that you already had allocated towards them. I hope this helps you this holiday season.
