The best way to eliminate the stress associated with planning for the holiday season is to get the ball rolling as early as possible.
According to the National Retail Federation, holiday shoppers plan to spend an average of $998 on gifts, food, decorations, and other holiday-related items. This figure represents the overall holiday spending, including both planned and impulse purchases.
That means starting the budgeting and saving near the beginning of the year and not waiting until the last five weeks of the year!
When you want to make Christmas an enjoyable experience for yourself and your family, a little bit of forethought does go a long way.
The Early Christmas Game Plan
When you start thinking about Christmas much earlier, you’ll be able to keep an eye out for great deals and promotions ahead of time.
One of the best tricks is to purchase gift cards each month for stores that you will shop at (think larger retailers that will have Black Friday sales like Target, Amazon, and Walmart). I invest when Target has their 10% off gift cards sale – they have it two times a year, buying $500 of gift cards for $450. If I do not use it for gifts, I can use it for other necessities.
Or, you can just set aside the cash in a Christmas Savings Account if you do not know where you will be shopping.
While I start the budgeting as soon as possible next year, I don’t start Christmas activities and day planning until September.
When you have a holiday game plan in September and divide out the biggest tasks well in advance, you’ll be able to enjoy the season and all the festivities without rushing around last minute.
When you have a step-by-step plan of action, getting through the planning and shopping aspects of the season will be simpler and less stressful.
Try These Tips for Planning Ahead for Christmas:
First, Create Your Budget Early.
A significant number of people use credit cards to finance their holiday spending. In a survey by CreditDonkey, 37% of respondents reported using credit cards for their Christmas purchases. Using a credit card for holiday expenses can have long-term financial consequences. For example, charging $998 on a credit card with a 17% interest rate and making only minimum payments can result in taking five years to pay off the debt, ultimately costing $1,481.55 due to interest.
For this reason, a solid spending plan will contribute heavily to a stress-free and debt-friendly Christmas. Begin your seasonal planning by looking over your finances and determining how much you can afford to spend.
Be honest with yourself, as this budget will carry you through the holiday and into the New Year. If you overspent last year and you are paying for it now, this is the perfect time to set those boundaries. Plus, another benefit is it gives you a lot more time to set aside small amounts to cover the costs.
Address all aspects of the holiday season in your budget, including gift-giving, entertainment, food, greeting cards, travel, and anything else you need. This will ensure that you don’t overspend in November or December.
Next, Formulate a Gift List.
Create a list of everyone you plan to give a gift to and compare it to your gift-giving budget. Set a spending limit for each individual on your list and trim your list if your budget cannot support it. Jot down a few gift ideas for each recipient and run them against your budget before you set out to shop.
Don’t forget your neighbors, children’s teachers, service workers like hairdressers and nail techs, and others that you may give a gift for the season!
Reassess Your Budget Monthly.
Each month, keep track of your holiday spending. Use an expense tracker – either a printable or a spreadsheet works well. How does this stack up against your budget? How much money do you have left? Is your budget currently on track, or are you in danger of overspending?
You may need to make tweaks to your budget as you go, which is completely normal, but instead of raising the amount of money in your budget, just shift priorities as necessary.
Don’t Forget to Start Shopping Early.
The earlier you shop, the more time you’ll have to find the right budget-friendly gift. This will allow you to search for sales and bargains on the gifts you intend to give. If you want a budget-friendly holiday shopping experience, be ready to shop around, comparison shop, and use coupons throughout the holiday season.
Make Sure to Plan the Party Early.
A great deal of planning is required for Christmas get-togethers. Plan early and address your plans often to ensure that everything falls into place. Create a budget and a step-by-step guide for planning the occasion. Ask for help when you need it.
When it comes to the holiday season, planning and preparation can go a long way. Put some thought into the holiday season sooner and you’ll be a lot better off in December. There’s no reason to get overwhelmed with the holiday planning process by waiting until the last moment.
Avoid procrastination and get a jump on a stress-free, budget-friendly holiday season. This is the best way to ensure that you can enjoy a leisurely, memorable Christmas with your family and friends.
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What’s Inside:
- At-a-Glance Calendar
- Weekly Planner
- Daily Planner & Schedule
- Budgeting Sheet & Expense Tracker
- Savings Tracker
- Christmas Decorating Planner
- Christmas Bucket Lists
- Christmas Song and Movie Lists
- Online Shopping Trackers
- Wishlist Pages
- Address Book Pages
- Christmas Eve and Day Menu Planners
- Recipe Cards & Grocery List Page
- Baking Planner & Timeline Page
- 30-Day Gratitude Page
- AND MORE!!
