Carving a Holiday Budget

Carving a Holiday Budget

Print Friendly, PDF & Email


Background pattern  Description automatically generatedThe holidays are a time for giving, but often people can be a little overgenerous during this time of year and later find themselves in financial trouble. According to a survey by Country Financial 32 percent are feeling the greatest stress around holiday finances.1

Here are our top tips for saving money during the holiday season:

  1. Create a Holiday Budget

Monthly Income – Monthly Expenses = Your Holiday Budget

Make a list of everyone you will buy for and how much you will spend on each person, then stick to it!

Also, consider setting a gift budget for the entire year to better anticipate costs and save for additional holiday spending monthly. This will allow for smoother month-to-month budget tracking

2. Pay with Cash

When you pay with cash, you can get a better handle on how much you are spending. You are forced to stick to your budget because you can’t spend cash you don’t have!

3. Pay with Gift Cards

There are websites and stores where you can purchase gift cards at a discounted price. Shop with them and you are automatically saving money. Shop for items on sale or at a discount store and save even more money!

1 https://www.countryfinancial.com/en/about-us/newsroom/waiting-for-a-holiday-miracle-santa-needs-to-leave-nearly-60k.html

Print Friendly, PDF & Email


Related Posts

Time for a Financial Check Up

Time for a Financial Check Up

With the season changing and life ever pulling us forward, you may want to take into account life changes that may affect your financial goals. Account for Changes in Your Personal Life Have there been any changes this past year with your family, personal, or...

What is Roth and What Does it Mean for Me?

What is Roth and What Does it Mean for Me?

When you hear Roth 401(k), Roth IRA, or just Roth, this is generally referring to a specific type of tax benefit your savings may receive. You pay taxes on Roth contributions for the taxable year in which they are made. “Traditional” contributions typically means that...

School is now in session! Let’s check if you’re preparing for retirement and review the following items we’ve listed below. Contribute to your Retirement Plan It is imperative to keep track of your retirement plan and set aside a percentage of your income. It’s...

Share

Share this post.