It’s October and 3 major holidays are just around the corner! Have you been planning for them?
These three, Halloween and Thanksgiving and Christmas, PLUS Easter are the most expensive holidays of the year.
If you’re not ready, it’s time to chop-chop!!
The ideal thing to do is to start saving in January. This way, you put aside money each month to cover your holiday expenses, you’ll stress a lot less and you’ll feel better fo/r not overspending.
Otherwise, you need to put a serious spending plan in place now so you’re financially ready when the celebrations arrive.
For those of us who are not ready………
Here are six holiday expenses to start budgeting for right now:
- The Parties. I love parties! This means shopping and dressing up!! You’ve got to plan ahead and start looking for deals and sales for your party clothes.
- The Food. There will be many attractions at the supermarkets, so make a list and check it twice! If you’re entertaining for the holidays then be prepared to increase your grocery budget.
- The Gifts. This gets out-of-hand for me every year! Again, make a list, check it twice and have a budget for each gift.
- The Family. For a lot of people, the holidays means family….. Fun, Fights and Fellowship! Here’s a quick read: 5 Holiday Fights To Stop Before They Start. Family feuds will ruin many happy moments.
- The Travel. If you’re flying but haven’t yet booked your tickets, do it now or it’s going to cost you. If you’re driving, start thinking about what you’ll need to make it happen, like gas and snacks for the road.
- The Giving. The holidays are also about giving and making a difference, have you thought about tithing, charities and volunteer work you can do this season? Even if you don’t have any extra room in your budget, make sure you go out and help others with your time.
The holiday season is one of giving, which often means it’s also the season of spending. So don’t delay. Get started now to avoid using plastic and busting your budget!
Some more tips…….
Decide on your spending limit. Set an amount for how much you have available to cover each holiday expenses this year.
Assign money to each category. This means allocating a specific amount to the 6 items above. Each gift, each outing, office Christmas party, food, travel, etc.
And finally, track your purchases. Once you begin spending for the holidays, keep track of all your purchases. Bring your gift list and your budget sheets with you on every shopping trip.
Don’t be caught off guard!
Tracking the cost of your holiday-related expenses this year will help you budget more accurately next year.
“Nobody plans to fail. They just fail to plan.”—Anon.
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Until next time…..
Agree or disagree? I love your comments! So please let me know your thoughts in the comment section below.
I look forward to hearing from you!!!
Althea
Helping God’s people realize and achieve their true financial potential, become debt-free, build wealth and give generously!!
PS. Financially, most of us know what to do; we just have trouble doing it. That’s where a coach can help. CONTACT ME for a FREE 15-minute consult.
