Maybe Christmas she thought doesn't have to make me poor...maybe this Christmas perhaps I should budget more. Dave Ramsey once said, "A budget is telling your money where to go instead of wondering where it went." There is no denying Christmas is expensive, but it doesn't have to leave you poor this year. Creating a budget, along with saving throughout the year, is an effective way to have a wonderful Christmas without spending a fortune. Use the gift planning template, menu template, and decorations template in the Christmas Planner template posted in February. It is April so I don't blame you if you don't have a complete grasp on gifts, menu, or decorations needed for December, but take what you do know already and start filling out your templates.
Last month I posted the two ideas I have for handmade gifts, but I don't really have specific ideas for everyone else on my list. Yes I know sizes, favorite colors, sports teams, scents, etc., but I have yet to see how it will all fit together. This indecision can lead to an abundance in gifts for one person and none for another, but I have two tips for combating the gift and spending overload. Tip #1: Set a number of gifts per person. A few years ago my church put forth a 3 gift rule. The 3 gifts are representative of the gold, frankincense, and myrrh given to Jesus as a baby. One gift was to be the gift the person really wanted, another gift was something that would benefit the person spiritually, and the last gift was something the person would wear. Obviously you could tweak this a bit to fit your needs better, but the idea is great for keeping track of gift giving. Tip #2: Set an overall budget for gift giving and then divide the total into smaller increments for individual gift budgets. If your total budget is $500 then allot $300 for immediate family, $90 for relatives, $90 for friends, and $20 for emergency gifts or work parties. Stick to the budget your set and keep your receipts to keep track of your total spending.
Tip #2 should be implemented for menu and decoration planning too. These are more easily planned in advance and more easily budgeted for. Ingredients like canned food can be bought and stored in advance. Shop sales in advance. This also means knowing the best sale price for a product. Save money on decorations by recycling old Christmas decorations. If you want gold Christmas ball ornaments then take gold spray paint to last year's red ornaments. Consider making your own decorations from recycled materials you already have at home before rushing out to buy more.
 |
| 52 Week Money Challenge |
Even budgeting and recycling materials will leave you broke if you don't start saving now. You can set a certain amount of money aside each week or month for Christmas or a certain percentage of your paycheck. We are already 12 weeks into this year, but the 52 week money saving challenge is a great way to put away money throughout the year. If you would rather do a percentage of your check then I recommend saving 10% of your first week's check for gifts and next paycheck 5% for menu and 5% for decorations. Obviously, adjust the percentages as needed.
Have your own tips for saving money this Christmas? Be sure to leave your tips in the comments below and stay tuned for next month's Christmas preparation post.
No comments:
Post a Comment