#CHRISTMAS BUDGET PLANNER UPDATE#

Whether you are saving money along the way or buying gifts throughout the year, the person who plans ahead will be the one that is able to enjoy Christmas with the financial ease of mind they deserve. Without a doubt, the best choice in Christmas budgeting is planning ahead. Next season, some people figure that either new credit cards will need to be acquired or alternative funding chosen for Christmas gift shopping. It is easy to see how paying the minimum amount each month will leave the credit card balance minimally paid down by the next season, and your expense for borrowing the money to make that purchase. If your credit card has an 18% interest rate and you take 10 months to pay off that sweater? It ended up costing you $121. You pay by credit card, and let’s just skip sales tax for the ease of math. You buy that $100 sweater on sale for $80. Credit cards charge a huge amount of interest, in most cases, which means paying more than retail value for the gifts purchased. Christmas and the Credit CardĬredit cards are often paid off during the 11 months before Christmas and maxed out within one month.

Unfortunately, though the gifts will be purchased, the bills will be one month behind for the entire year unless a double month can be paid somewhere along the line. Last-minute shoppers tend to be last-minute savers and this could mean putting off all November bills to pay for this year’s Christmas shopping. If the Christmas bonus fluctuates depending on the sales and performance of the business, there could be a huge chance taken when waiting for that bonus to cover all Christmas shopping. Depending on the bonus will depend on how much money is commonly given and how secure the bonus is from year to year. If you are lucky enough to qualify for a yearly bonus that comes around Christmas time, that bonus could be used as the entire Christmas budget. Taking a Chance With Your Christmas Budget By hitting sales that are held throughout the year, the Christmas shopping list will be smaller than ever by the time December rolls around. With just a $20 contribution to a Christmas budget savings account every week, more than $1000 will be saved by Christmas.Īnother great way to plan ahead financially for Christmas shopping is with sales shopping. Many people find that saving a little of their weekly or biweekly pay in the form of a Christmas fund is the best way to set aside money for gifts.

#CHRISTMAS BUDGET PLANNER UPDATE#

Have any holiday stockings to fill? That takes money too! Did you need a new Ugly Sweater for that office holiday party?ĭo you need to buy a tree or update your holiday decorations? And last, but not least, charitable contributions – there are tons of great causes to help! From the Salvation Army to Operation Christmas Child – or even your local giving tree, there is someone whose life you can make a little brighter.Īll of these are things that you need to account for – in your Christmas Budget! Planning Ahead for Christmas ShoppingĬhristmas budgets can be started as soon as the last shopping season ends. Do you bake holiday cookies? Those need ingredients.

Christmas budget planner