A Holiday Savings Plan to Help Save Money, Time and Be Less Stressful
Having a solid Holiday Savings Plan allows you to have a stress and hassle free celebration.
It saves money, time, energy, family arguments and embarrassment. It allows you to afford the celebrations and entertainment that you have been wanting to experience.
- Are you tired of being low on money for the holidays? It is really stressful, it stirs up various emotions that are not healthy for us or our relationships with our family. It can be quite embarrassing as well.
- The holidays do not have to be so stressful, regretful or embarrassing. If we use resources to help us plan for them throughout the year. We can all have very successful, exciting, memorable and positive experiences each holiday season.
I want to help you Financially Prepare for the holidays.
As a family of five on just one income, I can relate and understand about the need to be prepared and having to plan everything out as much as possible.
Bonus: I also have some great holiday and budget planners available for free download! You can scroll to the end to grab them.
How to Create a Solid Holiday Savings Plan
No matter if your finances are tight this year, or you just want to cut back on your holiday spending, it is a great idea to create a holiday saving plan budget. The holidays is a time when it is so easy to go overboard with your spending.
A budget will help you keep your spending in check.
First off, you want to write up a list of your expenses. Not just for the holidays but for the entire month, a good way to do this is to get out your bank statement and record all of your payments and other expense items. I know, simple but many of us tend to overlook this and forget.
Allow for extra expenses for your child at school, for your babysitter and even for yourself at work. Just in case you have an impromptu lunch to attend. Unexpected costs can creep up at any time, and the holidays are notorious for this.
It is actually better to over budget for something, any money left over can be put back into the bank.
Type up your holiday savings plan and budget; save it onto a spreadsheet, this way you are more likely to use your holiday budget. Google has a free spreadsheet option. You can download budget templates online and they can be used throughout the year, not just during the busy holiday season.
- A formal budget will allow you to track your spending habits and keep you in control of your money.
There are apps for your phone or tablet that are really helpful with saving and spending to help with your finances and budgeting needs.
- Set a spending limit for your Holiday budget. How much can you truly afford to spend?
Allocate enough money to pay your monthly expenses and see what you have left. Then divide this between how many people you want to buy for. Now you know what you can comfortably spend on each person.
If you don’t have enough money, is there someone that doesn’t really need a gift. Possibly a distant relative who would be happy with a gift card or Christmas wish recorded on a DVD. You will have to be strong willed enough to make cuts where necessary.
If you need to cut back, try to cut back on areas such as Christmas cards, can you send email cards instead? You can actually get a year’s subscription to an e-card service very cheaply. Then you have cards all year long.
- By sticking to your budget, you will learn to be creative in some areas. But this is the only way to stay on track and not end up with huge bills in January.
Keep track of your spending in your spreadsheet, enter your receipts weekly if not daily. This way you are controlling your cash flow each week and will easily tell if you have overspent or not.
- By getting the whole family on track with your general family and holiday budget you can teach your children how to have a wonderful holiday season and focus on making fun, positive memories without spending thousands of dollars.
Once you appreciate how valuable your holiday budget is, you will be creating budgets for different occasions all year long.
Now that you have some guidance on creating a budget you can
focus on creating excellent holiday memories.
Talk about all the possibilities you have created by planning and saving for the holidays!
Here is an introduction to our gift and holiday guides
Let’s talk about gifts and filling our holiday tables and homes with amazing foods, drinks and decor.
2017 Holiday Gift Guide Sponsors
Our goal here is to show you with some planning, you can offer excellent gifts to everyone on your list.
You do not need to go into debt just to throw the best holiday parties, get-to-gathers or to give the best gifts. ‘
The key is to make a list of people you’re buying gifts for.
Set a specific amount per person you are willing to spend on that person.
Then put a list of possible items that fit into that price range.
Do you need more help with something in specific to put together your own Holiday Savings Plan and Budget? Comment below what helps you or what you need help with.
Don’t forget to check out these Holiday Gift Guides let us know how useful it is for you and what else you would like to see in the next one!
- Don’t Forget To Print Your Free Copy Of These Planners!
Christmas Curls Planner
Christmas Reindeer and Trees Themed Planner
Snowflakes Themed Christmas Planner
Savings Goal Tracker