How to have a Merry Christmas on a budget

How to have a Merry Christmas on a budget

In the months leading up to Christmas, as each family celebrates Christmas in a different way, each family requires their own budget, however, everyone can save the same way and have a festive season. Hopefully, these Christmas saving tips can help you ahead of time as it happens on the same day every year.

Set a limit.
Know what's affordable. Never prioritize the Christmas presents and goodies over your household bills. Lay out all of your bills and expenses, and you'll see what will be affordable for the holiday season. This IS important!

Have a Christmas gift list.
Write down the names of families, friends, colleagues that you would like to buy Christmas presents for. You'll be able to allocate the amount of money that you will need and add this to your Christmas expenses. So when you set your "final" Christmas budget limit", you'll be able to guage how much you need to save on a monthly basis to reach your goal for the holidays.

Automate your savings.
So you have your monthly budget in mind, you can automate this amount to another "Christmas savings account", it maybe a new account that you need to set up with your bank or a sub-account. Treat this as an expense every month. Rest assured when you start buying the stuff you've planned, you'll be ready to cash in on those savings!

Christmas maybe the 25th of December each year, but it is wise to save throughout the year and start your shopping early, so you can participate in sales and find quality items for your gift giving. It's about maintaining what you can afford and managing your family's expectations, and varying your financial situation for the given year

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