Holiday Budgeting

The holidays are fast approaching and many of us are excited to have something positive to focus on. However, this time of year can quickly become stressful as the cost of giving gifts racks up. Here are five steps to budget for holiday gifts so that you stay within a budget you are comfortable with:

Make your list—and check it twice! Create a list of all the people you want to give gifts to—from family to friends and maybe even your hair stylist or mail carrier. Write down a dollar amount next to each name, add up the total and adjust as you see fit. Then, stick to the budget!

Plan ahead. Once you have a budget in mind, brainstorm gift ideas for each person. 

Do your research. Research specific gift ideas to figure out which brand and/or version is best for the recipient. Then, look online to find out which retailer is offering the best deal on that specific product.

Avoid shopping sprees. Shopping in stores (or even online) without a well-planned, researched, and specific list is a recipe for overspending. If you do choose to shop in a store, leave only with what you planned to purchase. 

Shop early. Don’t wait until the last minute to do all of your shopping. Rushing around a store, desperate to check everything off your list, is a sure way to overspend—and to stress yourself out!

With careful planning and research, it is possible to bring smiles to all of your loved ones faces without breaking the bank!