It’s just 58 days until Christmas- are you ready? The earlier you start and the more organized you are, the more you’ll save!
The following is an excerpt from the new ‘Ultimate Christmas Savings… Because no one needs to know that you’re cheap!” If you’d like to purchase the full holiday download set for just $10, click here:
I spent $909.15 on $2,206.55 worth of gifts last year. Click below to see what I got!
Taming the “B” Word
You know the word I’m talking about.. that’s right.. BUDGET. You probably don’t want to make one, just the mere thought of it makes you sick. But you need to do it. Without a budget, it can be easy to overspend. Budgeting should be empowering, not terrifying, which is why I’m going to guide you step-by-step through this nearly effortless holiday budget.
1. How much do you want to spend? This number should represent the largest amount of money you are willing to spend this season. You’ll probably change this in a bit, but you need a starting point. If possible, base it off of last year’s expenses. Take into consideration that this budget includes everything: gifts, wrapping supplies, foods, travel, etc. Write your budget here (in pen): ___________________
2. Go window shopping. What? What’s that got to do with budgeting? Everything is easier when there’s a Coach purse or a pair of Jimmy Choos at the end of the tunnel. Select a reward for yourself if you end the season under budget. This will encourage you to spend less and save more.
3. Will you budget by actual cost or retail price?. We’re going to be focusing on shopping for less throughout this book, so you need to decide how you would like to represent your savings.
Do you intend to base your spending off of the actual cost of an item or off of the retail price?
Example: If you have set a $20 limit on each person and you find a $20 item on clearance for $3, will you count that person asi completed with a $17 savings or will you keep shopping until you physically spend $20 on them? (I’ll tell you a secret.. no one will know what you paid for an item, they will assume it’s the retail price. A $20 gift is a $20 gift, no matter what you paid for it. You’ll obtain your savings goal a lot quicker if you stop spending when you hit the retail price of each item.)
4. Print the My Holiday Budget Worksheet (available below) or Develop Your Own
5. Divvy it up. Grab a pencil (and a big eraser) because now you are going to decide where every dollar will go. Glance over the worksheet and cross out any categories that don’t apply to you. Add any additional ones that you desire in the spaces provided.
Decide how you want to divide your budget between the categories. You may find that you need to adjust your overall budget at this time.
That’s it! You’ve officially made your holiday budget!
Next week we’ll work on finding some extra cash so that you don’t go into debt this holiday season. Can’t wait? Buy the whole book, along with the entire set of printable holiday planning pages? Download your copy now for just $10! (a $63 value).