Four Weeks to a Better Holiday Budget
had a few more months before its arrival. Unfortunately, time does not stop. This year, don’t wait for the holiday season to put the squeeze on your wallet. Take the time now to plan and budget.
Week one:
Before you spend a cent, start a savings plan. Estimate the total amount you can realistically afford to spend this holiday season. Divide that amount by the number of weeks between now and mid-December. Create a special holiday savings fund and start setting aside your weekly goal. Open a special account for your savings or merely designate an empty coffee can. The important thing is to start saving now.
Week two:
Divide all your holiday expenses by category and do not leave anything out — gifts, decorations, wrapping paper and ribbons, entertaining, greeting cards, postage, and charities. Figure out how much you would like to spend on each and write down these goals. Make sure the total does not exceed the limit you set in week one.
Weeks three and four:
Start shopping. Last-minute gift buying often results in spending more than
you planned, so do not put it off. Make a list of what you would like to buy
for each person and shop around for the best price. The more time you put into
your list, the less time you will spend wandering the malls — and the less you
will spend on unnecessary or unwanted items. Most important, if you must use
credit cards, do not charge more than you can afford to pay off in three
months.
By using the time ahead of you to plan and budget, you can reduce the financial
headaches that often accompany the holiday season. You may even find yourself
looking forward to the holidays as eagerly as the children do.
| Track Your Progress | |||
| Total Savings Goal: | $______ | Weekly Savings Goal: | $______ |
| Spending Plan | |||
| Gifts: | $______ | Greeting cards: | $______ |
| Decorations: | $______ | Postage: | $______ |
| Gift wrap, etc.: | $______ | Charities: | $______ |
| Entertaining: | $______ |
| Gift List | |||
| Name: | Gift Idea: | Approximate Cost: | |
| ________ | ________ | $________ | |
| ________ | ________ | $________ | |
| ________ | ________ | $________ | |
| ________ | ________ | $________ | |
| ________ | ________ | $________ | |
| ________ | ________ | $________ | |
| ________ | ________ | $________ | |
| ________ | ________ | $________ | |
| ________ | ________ | $________ | |
| ________ | ________ | $________ | |
| Estimated Gift Total: | $________ |
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