Christmas is coming in just 5 short months :-). I know it seems early to be thinking about Christmas, but wouldn't it be fun to prepare for Christmas now, and when December comes, you can just relax and enjoy the month rather than scurry around?
Have you started saving for Christmas yet? If not, wouldn't it be nice to have a cash-only Christmas and not worry about the bills in January? If so, determine your Christmas budget, and divide it by 5 (the number of months left before Christmas). Each month, transfer the monthly amount into a special savings account set up just for Christmas. Don't touch that account unless it's for Christmas spending.
The Budget
Make sure you include everything in your budget, since often the "little" things can really add up fast. Some of the items that I account for in my spreadsheet include:
- Determine the number of people to purchase gifts for and multiply by the budgeted amount per person. I usually spend $15 per child (since we have 8 nieces and nephews for both birthday and Christmas presents). We will spend more on our parents and we've agreed as a family not to purchase for adult siblings. We also spend a higher budgeted amount for our immediate family (like hubby, myself, and my 2 boys). I usually am under budget on the boys' gifts, since they receive so much from other family members too.
- Budget an amount for helpers gifts (like teachers, tips for hairdressers, etc) as well as for stocking stuffers. I always think that stocking stuffers are little things...but it can quickly add up to about $20 a stocking. I want to make sure that $80 is budgeted for my family of 4.
- If you send out Christmas cards, budget an amount to print out the picture card, letter and stamps to mail them out.
If the monthly total seems like too much to save, scale down your Christmas spending. You can always increase it a next year when you have the whole year to save.
For more ideas for Christmas, please visit Life as Mom, who is hosting a series on Christmas in July.
Michelle The Mom
I love the ideas! We try to save $20 a week to put towards Christmas. In my HUGE family we only by for our own secret santa and for all the kids in the family. We keep a limit of $20 per child so no one breaks the bank. We also do not by anything on credit. If we don't have cash in the bank, we don't really need it. Just one moms way of trying to keep some cash flow during tough times.
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Momtrends
Great post. I think the country has learned a lesson (or I hope). We can not buy things irresponsibly on credit we need to budget and save.
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jpkittie
great ideas - I have actually started purchasing gift cards while I am at the grocery store if I am under my grocery budget... then I will save those for Christmas shopping 🙂
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Salina
Love the whole blog.. read it everyday!
I shop all year long so in December, my husband and I are able to enjoy the christmas season. I save so much money buying all year long!!! My friends think I am crazy but I am the one laughing when they are fighting the mall traffic in December! ha ha
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