Your Holiday Budget – Make It Work for You

Rising gas prices. Increased travel costs. Down Economy.

So, how’s your holiday budget doing?

Yeah, times are tight and many people are suffering, but that doesn’t mean you have to give up your holiday cheer. Here are some tips for making the most of your holiday budget … regardless of its size.

Assess Your Holiday Spending
Take a look at what you spent last year, including

• Gifts
• Cards
• Wrapping paper & supplies
• Postage and shipping
• Travel

This will give you a starting point. Will your budget handle more of the same? Or do you need to reduce your costs this year?

Trim Your Expenses
Now look at the list you created. Are there things you don’t really need to spend money on this year? Maybe you have left over wrapping paper. Maybe you can consolidate your shipping and reduce the postage costs. Be creative in how you do your first round of reductions.

Make a List & Check It Twice
Who did you buy gifts for last year? Do all of them need gifts from you this year? Can you tone down the amount you spend on gifts for some or all of the people on your list. Create budget … for each person on your list … and stick to it. Sometimes, knowing the maximum you’re willing to spend on a gift for someone can trigger creativity that inspires you to give a better gift at a lesser cost!

Be Frugal and Creative
There are lots of ways to give more meaningful gifts at a reduced cost. Here are some ideas:

• Create a memory scrapbook for someone dear … think “Baby’s First Christmas” for Mom or “My Favorite Moments” for Dad
• Bake cookies or some other favorite recipe … one year a neighbor gave me flan! I’ve even baked home-made biscotti and received heartfelt thanks for them.
• Create gift baskets … I’ve written about this before, but you can create some amazingly wonderful gift baskets for little cost when you fill them with interesting items you’ve found at dollar stores, Big Lots and, yes, thrift stores.

Be Smart About Travel
Don’t ship presents if you can deliver them yourself. Host more parties instead of traveling to them. When you go shopping, be smart about the route you take and be efficient … get all the things you need in fewer trips.

And, if you host parties … don’t do all the work yourself. Make it a potluck and reduce the work and costs all around.

Keep An Eye Out for Sales
The oldest trick in the book is to never buy at full price. In fact, in an earlier post I recommended buying your Christmas gifts all year long … that way you never have to pay full price.

Shop Online
Shopping online, if you are wise about it, can actually save you money in several ways: no travel costs, reduced product costs and sometimes even free shipping!

So, if you have a tighter budget this year compared to last, don’t worry. The tips and advice above should help you keep that holiday spirit.