Yes, you heard that correctly. Budgeting for the holidays doesn’t add stress. In fact, budgeting for these additional expenses actually makes life less stressful because you’re only spending the money you can really afford. So, how about feeling calm and peaceful in January because you made smart decisions instead of experiencing buyer’s remorse?
Where Should You Begin?
Well, first let’s talk about the fact that the holidays are supposed to be fun, and the real satisfaction comes from the act of giving something special, not from giving expensive presents. So, with that in mind, make a list of all the expenses you expect to incur during the holiday season. Try to think of everything that might come up. Your list may include:
- Family gifts
- Cards and postage
- Christmas tree
- Other gifts for teachers, gift exchanges, etc.
- Charity donations
- Holiday meals
Set Your Limit
Next, take a hard look at the money you have available to cover all your holiday expenses, and decide on your spending limit. Be sure that you’re planning to use only money that you’ve saved up or set aside for Christmas. People often make the big mistake of spending money that’s not truly available.