plan. save. organize.

Holiday Prep Guide: Budgeting 101

Believe it or not, the holidays are just around the corner. Although it may be too early to put up the Christmas tree, its never too soon to prep your wallet for the shopping ahead! As you start to think about the upcoming shopping season, use our budget tips to save a little extra.

1) Assign a budget limit to each gift recipient (AND STICK TO IT): To make it easy, create a budget tier with the VIPs on top. Taper off the budget amount all the the way down to the smallest budget (office gifts and gifts for the service people in your life). Regardless of unexpected sales, do not deviate from the tier! This might cause you to spend more on others to regain the balance in gift values.

2) Track your spending: If using a debit card, use an app like MINT to track and classify your Holiday spending. With color charts and pie charts indicating your amount of spending each month, you’ll be able to see your state of affairs in an easy manner every single time you open the app.

3) Budget for the extra expenses: Gifts don’t wrap themselves, right? Remember to account for décor, wrapping paper, tape, shipping, DIY materials, dessert ingredients and other small holiday expenses into the budget!

4) Consider cash: If you created a gift tier and are serious about your gift spending tracking, consider sticking to cash and dividing it into envelopes, one envelope for each gift recipient. This way, you really are limited to the budget you set for that person and you absolutely know exactly what you’ve spent when you spend it.

5) Get crafty: Sometimes the most meaningful gifts come from the heart. Don’t be afraid to pull out the DIY! Not only will you be saving money, but you’ll also be giving a gift that will mean something for years to come.



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