How To Stay On Budget This Holiday Season

How To Stay On Budget This Holiday Season

 I know I said that we would start to look at home-based business bookkeeping systems, but I’d like to take a quick break and talk about the holidays.  This is a very stressful time for most people.  One of the biggest stressors is the cost.  So, how can you get what you need and still stay on budget?  I have a few ideas:

Make a List!

 First, make a list (I love lists) of all of the people you need to purchase gifts for.  Next, make a list of other things you need to buy.  Do you need or want any new decorations?  Have you run out of wrapping paper and other supplies?  What about baking?  All of these items cost money.  It is helpful to have a few lists so you know what you are going to need to buy.  Now work with the lists.  Write down on the gift list any ideas you may have for each person.  Then do some research to see what those items are going to cost.  This will give you an idea of what you will need to spend.

 Have a Game Plan:

I could say, “Watch for Sales!”, but we all know to do that.  I think it is more important to have a plan.  Stick to the list when shopping.  Resist the impulse purchases.  Remember that it’s the thought that counts.  If you are shopping at the mall (or any other brick and mortar stores) bring cash.  You can even divide the cash up so that you have a small amount for each person in an envelope.  Once the cash is gone, it is gone.  Don’t use the debit card and resist the urge to put “just this one thing” on the credit card.  It is just too easy to overspend when you don’t have a visual reference for just how much you are spending.  Using cash gives you that visual.  Finally, if you are shopping online keep in mind that there will most likely be shipping costs.  The closer you get to the holiday the more expensive it will be to ship your items as you will need to get premium shipping.  Many websites offer free shipping if you spend a certain amount.  Try to group your items on one website with this offer.

Have a Total Budget in Mind:

 If you already have a total budget in mind it will also help you cut your lists if you need to.  Remember, with a budget it comes down to “need” versus “want”.  It is a lot easier to shorten your list than you may think.  So many are struggling financially right now, that opting to not exchange gifts this year with some friends is becoming more common.  You can always make a batch of cookies or a loaf of special bread and wrap them nicely for those friends.  Do you really “need” that new wreath or can you spruce up the old one with a few new touches?  Can you come up with any creative and inexpensive ideas for wrapping presents that won’t break the budget?  Believe it or not, the dollar stores have some great wrapping options that will keep the costs down.

 We all like to indulge at the holidays.  A little planning will help with the stress of how to pay for it all.

Happy Holidays to All!

Photo courtesy of Rogers Garden.com

How do you try to stay within your budget while holiday shopping?

Brought to you by Wendy Conte, CB

661-993-9313 / wendy@conte.net

www.bookkeepingscv.com