Chapter 2 Budgeting
Money problems can screw up a holiday season almost faster than anything else. It's hard to be Santa when there's no money in the wallet. Like so many things, planning ahead can help with this.
I want to state right now, that I am a big fan of "To Do" lists. I usually start my holiday lists around September, October at the latest. Partly it's for scheduling purposes. And partly it's to help me set the budget. Everyone's holiday budget is going to be different. Here's a rough draft of what mine looks like most years:
Items Guestimate
Presents See attached list*
Christmas Cards
Stamps
Decorations
Baking Supplies
Wrapping Supplies
Shipping
Tree
Extra Food
Stocking Presents
Special Event costs Se List
Travel costs (if necessary)
I'm sure I'm missing stuff, but let's look at each item. Some of them I'll discuss in more length in chapters to come.
Presents - Who is on the list and how much do I want to spend of them? Plan on one or two extra, just in case.
Christmas Cards - I still sent them. See the chapter.
Stamps - See Christmas Cards
Decorations - This doesn't include the tree that I love to have. But it does include candles, or any new items that I need or really, really want.
Baking Supplies - I love to bake. I like giving baked goods as presents. I have to add in the extra costs for this.
Wrapping supplies - Contrary to my dreams, holiday wrapping paper doesn't last forever. I do need to buy new sometimes. And boxes. And don't forget tape!
Shipping - I usually ship 2-3 presents to various relatives around the country each year. Plan for it.
Tree - I love a live tree. So I budget for it. If enough ornaments are broken I can justify buying new ones. Or I'll find some excuse.
Extra food - Even if you do not have company coming over, you will need extra holiday food. Going to visit Aunt Martha? Better bring a box of Christmas cookies. Stopping by to visit George from work? Better bring that bottle of alcohol. For budgeting purposes, figure out what you think you will need, then add a bit more.
Stocking Presents - Most years we have Christmas stockings. It's one of our Christmas traditions. Plan on a budget and on who is buying and wrapping said presents.
Special Events Costs - This category covers a lot of thing. Just look at the scheduling list. For what events will there be expenses? Christmas Cookie Exchange? Baked goods, plus party food. Church event? Possibly food, maybe a donation for the poor. Kids school party? Probably a present plus food. Going to the local craft fair? Plan to have money, just in case. Think about each event and guess how much you might need/want to spend. Don't forget Christmas dinners with the family and friends. And New Years Eve. Or Kwanza. Or Hanukkah parties? etc.
Travel Costs - If you're going out of town for the holidays, this one needs to be organized early. For a few years I had a mom one state over, a father-in-law two states over, and a sister-in-law (and family) that lived 3 states over. Road trip time!
Once you've done the math and crunched some numbers, relax. If you plan ahead you can find ways to spend less. Also if you start early you can start saving early. At least you know what to expect in January once the credit card bills show up!
A few people group notes:
Singles: Especially if you're living at home, expenses are less. if you're younger (or especially broke) you can ask to sign your name on a family gift and toss in a few dollars.
With a S/O, no kids: More expenses, since more events to attend and now a whole bunch more people to buy for. Hopefully you can work out how to give presents jointly. You get to work on a budget together!
With a S/O, young kids: Not only do you have to work together with a partner to get all this organized, but you also have to plan for small presents for the kids to give specific family members, like grandparents. Don't forget to get new photos of the kids to put in the Christmas card!
With older kids: Hopefully teens are willing to help out with the holiday stuff. Include them in the holiday planning. Especially some of the budget talks. If they're invested in the decision making they're more likely to help.
Divorced: You probably have less people to buy for now. And maybe less events to budget for. But putting together a budget is still a really good idea.
Seniors: Many seniors are on a fixed budget. Making and keeping a holiday budget is really important. Health issues may start limiting what they can do. If seniors are unable to do so themselves, family members should help them out with holiday stuff.
And there is my take on holiday budgeting. Let me know what you think.
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