Christmas Gifts: To Budget or Not To Budget?This post may contain affiliate links. Please see my disclosure policy for more details.
What do you think about paying cash for your Christmas gifts next year? Here’s the best way to make that happen. Once you’ve purchased all of your gifts for the year, tally your totals. (You may be shocked at what you spent and never want to spend that much again.) If you feel that’s about the amount you want to spend next year then proceed. If not, come up with a better total for your family.
Let’s say the total you decide on is $1,000. You now need to decide whether it would be easier for you to save monthly or weekly. If it’s easier for you, setup an automatic monthly/weekly withdrawal from your checking into your savings account.
Divide $1,000 by 12. You will need to save $84 dollars a month.
Divide $1,000 by 52. You will need to save $19.25 a week.
Budgeting is not as hard as some people make it. Figure out a plan that works best for you and stick with it. Think of the peace of mind you will have next year when you’re purchasing presents if you follow a plan.