How to Make a Christmas Shopping Budget

Sleigh bells ringing, children squealing, unwrapping gifts, cookies baking--the holiday season is a time of mixed emotions. The kids excitedly look forward to it but adults sometimes dread it. Not enough money! But with a little planning and foresight to make a Christmas shopping budget, adults can join in too with the festivities and maybe have a little cash left over after the holiday. Read on to learn how to make a Christmas shopping budget.

Difficulty:

Easy

Instructions

Things You'll Need

• Pencil and paper
• A financial tracking spreadsheet
• Blank envelope(s)
• Bank debit card

1. Make a Christmas shopping list of people that you have to buy gifts for. This will make your shopping easier when you're in the stores. It will also help cut down on impulse shopping so that you stay within a budget.

2. Determine what your Christmas shopping budget is well ahead of time. Assign a dollar amount per child or per person. When you are shopping and buying, stick with the budget no matter what.

3. Track purchases closely. Use a pencil and paper or a computer-based spreadsheet. Simply key in the budgeted amount and then back out each purchase made from the total. This will keep the dollar amount in front of you that is available and help you stick to your Christmas shopping budget.

4. Make purchases with cash. Use the allotted dollar amount you determined per person. Only take that dollar amount into the store and use it to shop. Use a blank envelope to keep your cash in. When that amount runs out, shopping time is over. You have successfully shopped within your budget and found items that (hopefully) are reasonably purchased.

5. Shop online using your bank debit card only and not a credit card. This trick will have the money come directly from your bank account and once it's spent, it's spent!

Resources

• Advice and Tips on Budgeting for Christmas
• Information and Advice on De-Stressing by Budget Setting for Christmas