How to Calculate How Much to Spend on Christmas Gifts and Stay within Budget

It can be difficult to calculate how much we should spend during the holidays. In this economy it’s important to be prepared for these bills. Here are suggestions on how to stay within budget.

Difficulty: Easy

Instructions

Things You'll Need:

• Paper and pen or
• Computer with a word processor

1. 
    
   List

   First, write a list of everyone who you would like to receive gifts from you, including people you would tip (hairdresser, mail carrier, doorman) and co-workers. No matter how small the gift may be, write it down.

2. 
    
   Scarf

   Next, write down what type of gift you would like them to receive (clothing, jewelry, scarf, tote bag, cash).

3. Now, think about where you usually shop and write a maximum dollar amount that you think you would spend on each person.

4. 
    
   Mall

   If you have favorite stores in mind for each gift, write them down next to the dollar amount. At the same time, think of alternative stores that may be a little less expensive. In case you go overboard on a few gifts you can shop at these other stores.

5. Take this list to the store with you so you can keep within the set budget. If you just have to get something nicer and more expensive for one person, maybe you can cut down on someone else’s gift by shopping elsewhere and finding a better deal.

Tips & Warnings

• Start saving as soon as possible. Putting away $20/week starting in September can add up to $350.