Here are the best Christmas budget tips to ensure this year’s holiday shopping season, won’t leave your bank account completely empty.

Reasonable Christmas Budget

How much do you budget for Christmas?

The average Christmas amount most families spend during the holiday season that typically budgets for this time of year is between $400 – $800.

According to Deloitte, the average holiday spending will increase from $1,226 – $1,536 per consumer.

The holiday season can easily bust the budget if not properly planned. There are so many expenses during the holiday season that can often surprise families.

So to avoid the additional debt, stress, and financial struggles take some time to map out how you will spend your hard-earned money this year.

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Christmas Budget Tips Setup

How much do you spend per child on Christmas?

• Take some time to list your expenses.

Avoid getting caught by surprise and sit at the table or desk, or your special place you like to think and create a holiday budget.

When you are making this list take all of your income and holiday expenses into account. This budget will work independently from your general monthly budget.

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First, make a list of spending categories.

For example, Christmas home party, gifts for your coworkers, gifts for kids & family, decorations, cards, wrapping paper and so on.

The more specific the better you will be able to account expenses. Make sure to write down the names of each child, family member, coworkers, etc.

Create a “Just in Case” column in your expense list and set aside some money for those holiday emergencies.

Next, you will need to write down the expenses for each of those categories.

For example, I have family that lives out of town. So I will need to account for the amount I plan to spend on their gift, plus the cost of shipping and also any extra cost for having it wrapped on special delivery.

If you want to have a small Christmas party (notice I said small) take into account the food, drinks, decorations, and how much is the max amount because you don’t want to go over.

Depending on what that amount is, a solution would be to have each person bring a dish.

If you plan to travel gather the amount for a plane ticket or for car rental, plus gas!

Gas prices tend to really go up during the week of Christmas, so if it is possible to fill up before the week of, then you can really save.

• Prioritize And Get Put It All In Order

By the time you finish your expenses, you may have a few pages full, but you will want to rank them in order of importance.

If you know that with all you want to do this season if having that small get together is really not feasible, don’t have it.

Plan for it next year, start a savings plan for the new year and you will be ready next holiday season.

Working to make sure that you stay within your budget, think of the places where you will be able to make your purchases.

Will some of these things allow for DIY. Even if you don’t think you have a creative bone in you, trust me you do!

Get inspiration from Pinterest on just about ANY “do-it-yourself projects.” This will help you save tons of money.

Look for coupons in-store and online to help save. Use your smartphone to download the Rakuten app which can help you save 40% or more on purchases and earn cashback.

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The great thing about Rakuten is you don’t have to just use this for online shopping, you can also use it for in-store purchases at some of your favorite stores like Target, Macy’s, Carter’s, and so much more.

• Think of Money Making Opportunities

How can you add more money to your holiday budget?

For example, can you pick up extra work?

Can you freelance? Elna Cain has an excellent course that will teach you how to write your way to your first $1k. No experience needed.

What about un-needed spending?

For example, maybe you can stop going out to eat for a month or two.

Christmas Budget Planner

Planning your Christmas budget takes a bit of finesse but very possible. By looking at what you have so far.

From everything in the categories and expected expenses, it may be time to make some adjustments.

If you can’t add more to your cash even after considering some extra ways to make money, you will need to cut back.

This is where prioritizing your list can really come in handy. Take a look at the items on the bottom of your priority list and cut back there first.

Preparing time aside for holiday shopping is the best way to make sure your family will have money left over after the season ends.

These are the best Christmas budget tips to ensure this goal will be met this year.

Creating a Christmas budget makes smart financial sense. It helps you manage the season effectively and efficiently so you can set stress aside and enjoy it.

Just as you plan your budget each month Christmas is about family, love, and celebration.

So stop stressing and have fun shopping!

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