How to plan a Christmas Budget

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By Mitzi Saltsman
User-Submitted Video

plan a Christmas Budget

Christmas may still seem far away to some of us, others began their holiday shopping the day after Christmas of last year. Whether you are a last minute shopper of not, make a plan to NOT go into debt this Christmas with a Christmas budget.

Difficulty: Moderately Challenging

Instructions

Things You'll Need:

plan
a budget

Step 1

Beware of cute kids!!!

Don't cave in to pressure.
You don't have to buy expensive gifts or gifts for everyone you know.
Other people may be looking for an "out" as well so, listen to your friends and family. Are they all complaining about finance? Talk to one of the adults in the family alone to see if you are thinking the same way. Then approach the group together with a plan that includes a good time, without a lot of spending.
Step 2

Think ahead!

Organize and prioritize your Christmas Budget.
Have a spending limit in mind. Divide it between your shopping list. Now you know that you are spending a designated amount on each person or gift before you shop.
Step 3

Have an idea ahead of time of what to buy.
Don't try to get everything all at once. The sooner you start shopping and picking up a few things each week with cash, the better. If you wait till the last minute or when you are tired, you'll buy something just to get it over with! Fa,la,la,la,la!
Step 4

It all adds up.

Be careful of the small things.
If I buy a cute $10 stocking stuffer for one child, I feel like I have to get something similar for the others. The $10 quickly adds up to $40 and $50!
Step 5

Look for useful stocking stuffers – things that you will have to buy anyway. New school supplies, favorite art items, and favorite toiletries are great. Craft items, movies and games that will entertain your children through the rest of their vacation, serve double duty!!!
Step 6

Never over use your credit card. In fact it's best if you don't use it at all! If you can't afford it today – you can't afford it next month and by next December you'll find shopping even more difficult.
Step 7

Remember what Christmas is really all about.

This is a great year to start simplifying your life. Even children have heard of the “bad economy” and are more apt to understand cutting back or better yet, doing for others this Christmas.