6 Dec 2017

‘Twas A Month Before Christmas: Budgeting On Christmas Gifts

Even though the holiday is still a month away, you can already feel the holiday cheer in the air…and not too far away, the holiday spending. If you are already feeling your pockets wearing a little thin, then you certainly have to decide on one thing: how to budget on your Christmas gifts. After all, this is usually where the biggest chunk of our money go when it comes to spending.

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To help you out with that, here’s a short article of a couple of tips you can try out to help ease the spending a bit and, you know, just put a little sanity to your wallet.

The Budget

The very first thing you need to do is to determine how much you want to spend on gift-giving this year. Don’t overestimate and be realistic. Remember that you might have to spend for other things this season like clothes and food, among other things. Take your other expenses into consideration as well.

The List

Once you have made your budget, it’s time to make the list. It will contain all the people whom you are planning to give gifts to this year. Be tough. You’re not Santa, you are not as rich as Santa, you are not obligated to give gifts to everyone on your phone list of Facebook friends list. If you’re on a tight budget, limit the list to the most important people on your life – to those whom you were able to depend on during the challenges of this year, your best friends, your family, and if there’s room for more, people whom you want to “invest” on. What do I mean by this? They are the people whom you want to establish a deeper or closer relationship with.

The Breakdown

Finally, divide your budget to the number of people on the list. If you want to set aside a bigger budget for one or two people, list those first and deduct the amount from the overall budget before dividing it among the people remaining. If the amount that remains for each is too small, then I’m sorry but you have to reduce the list. Let the list adjust for you and not the budget. You’ll be surprised to learn that people can be understanding especially when you give them other gifts – like the gift of presence whenever they need you.