With the holidays upon us, it’s easy to get caught up in the fun, the shopping, the parties, etc., and lose sight of our financial goals. No one wants to get carried away and then be left with the January financial hangover and a mountain of bills in its wake. With planning, this doesn’t have to happen to you. Let’s talk about some ways that we can stick to your holiday budget and achieve financial peace of mind during the holiday season.
Tips To Sticking To A Holiday Budget
1. Make A List – If you make a list of the items that you need to purchase for parties, gifts, etc. and agree to only buy what is on the list, this will help keep you within your budget. Be sure to stick to the list and to set a certain amount of money aside for unexpected expenses.
2. Make A Plan – Search online for great deals on the items you need and plan to shop for these items then. Black Friday through Cyber Monday is a great time for purchasing and saving money.
3. Get A Budget Buddy – Just like a diet buddy, a Budget Buddy can help keep you focused on your long term goals. You don’t want the instant gratification of an unplanned purchase to leave you with a pile of bills in January and your Budget Buddy can remind you of this.
4. Say No – You don’t have to attend every event and you certainly don’t have to participate in every gift exchange if it doesn’t fit within your budget. If you can’t afford to buy everyone that you want to something, A DIY present or a heartfelt, handwritten letter can go a long way.
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We all know that it’s easy to get caught up in holiday spending. We don’t want to lost sight of our holiday budget goals. Capital One 360 wants to help you stay on track by decking the halls with deals you can bank on, including up to $100 in new account bonuses, referral bonuses and up to $1,250 in closing cost credits. Be sure to check out Capital One 360’s Black Friday Sale where you can take advantage of Capital One 360’s deals on banking, brokerage and mortgage products. You can even share the financial peace of mind with your family. When you encourage them to take advantage of the Capital One 360’s deals, you may even be eligible for a $40 referral bonus.
What Are Some Tips You Have To Sticking To Your Holiday Budget?
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.
Sticking to a budget and saying no have been the two biggest things I’ve had to learn for the holidays. Otherwise my bank account is just tapped at the end of it all.
Those are all great tips. I especially like the budget buddy; they can really help keep you on track!
These are all really great tips. I always say I am going to stick to a budget, but I always blow it and go way over.
Sticking to a budget is the hardest thing this time of year. Especially when other people decide there’s not enough under the tree and buy MORE.
I am a list maker and that usually helps me stick to a plan when I go out shopping. Usually.
I have a lisit and a budget for each list and I stick to it. I also don’t usually venture off of it and I allow room to donate to charities.
At this time of year it is so easy to go overboard. Making and sticking with a budget is a great idea.
I’ve learned to just say no over the years. And the people you say no to, still love you anyway, lol. Most people understand no comes with a reason. Good tips here!
Make a list and budget. That is the way to go.
Budgets are the least fun, most important part of the holidays. I like to reward myself with a cookie once I’m done with drawing up a budget. Incentive!
Great idea! I think cookies make great incentives. 🙂
I’m so guilty of buying for someone else just because they gave me something. The thing is, my husband’s family is very hit or miss. Sometimes they’ll buy gifts for everyone; other years, only for the kids. I never know if I should gift something to his sister or aunt. This year, maybe I’ll go the DIY route so it’s not a budget buster.
Great tips! I have been bad about sticking to a budget in the past, and I usually only rely on credit cards this time of year (and not so much the rest of the year). Using your tips would be way smarter!
A holiday budget is a must! Good advice – I think it is very easy to get caught up in gift giving.
These are great tips. The holiday spending can easily go overboard with out a list!
I limited the amount of items that my kids could ask from Santa, and that helps A LOT. I also have a mental number of what I can spend.
Budgeting for the season can be so difficult! Great to plan out your budget accordingly
I am so bad about sticking to a budget during the holidays. The budget buddy tip is one I could use!
I set a budget for the for the following year, I use the funds to buy gifts through out the year. This has been a real money saver for us.
I’ve learned that the biggest thing to sticking to my holiday budget is to say no. Just because I see an awesome deal doesn’t mean I have to buy it if I’ve already gotten all my shopping done. Deals are both a blessing and a curse.
These are all great tips to share for sure! I am not making a holiday budget, because I don’t really spend much out of pocket. I use a lot of stocked up gift cards and gift codes to purchase gifts this year, last year and years prior I did a lot of review products …. which required WORK but was well worth it to have 5 presents for each kid under tree! I must share these tips with friends who I know struggle in this area this time of year!
Those are all great ideas. Like you, I had a stack of gift cards saved up, but I used most of them on myself. Lol.
Just say no – that is a good life lesson in general. I was invited to an event by a friend last weekend and while it could have been fun, the expense was too much to justify – I need to say no more, it felt great!
Bravo to you! I know that it can be really hard to say no, especially when friends ask you to do things. But you just have to sometimes.
Thanks for the great tips! My plan for staying on budget is to allot a specific amount per person, then there’s no surprise for me at the end on the holidays when the bill arrives.
Great tips. I also shop through the year so I don’t feel rushed 🙂 At this time I think I have two people left to shop for.
A budget buddy is an awesome idea. It’s nice to have someone to hold you accountable.
I am completely budget conscious this year. We went through some tough months this year. Thank you for sharing the tips. I am sure it will be helpful to a lot of people.
You are welcome. I am hoping that you have a much better year next year.
Those are great tips to build up the emergency fund! We have one…and let me tell you…we are facing needing to use it, but I know how hard it was to build up so I really don’t want to use it. lol. Do we REALLY need a radiator in the van? lol. But seriously the emergency fund is saving us on that account.
Oh I hate spending the emergency fun on things I just don’t want to – like a radiator. At least you had that to fall back on, though. 🙂
I am always really bad at sticking to my holiday budget. I will try to follow your tips this year.
I have been making a list of things I want to buy and I am trying really hard to stay on it. It is tough with all of the great sales though.
Making a plan is the biggest part of staying on a holiday budget for me. It helps keep me on track and keeps me from making impulse buys.
My hubby is the one keeping me in check, and I keep him in check. We do have goals and help remind each other to curb the spending to stay on top of those goals.
This will be the first year that hubby and I will set a budget for our adult kids for Christmas. We need to stop overspending where they are concerned so we can pay off credit card debt.
Good luck in achieving your financial goals this year. 🙂
I always set a budget. I’ve tried to teach my kids to do the same.
Great job. It is best to teach them while they are young.
These are great tips for the holiday season. It is so easy to let spending get out of hand this time of year.
Now that my kids are teenagers i find it easier to stick to my budget. I get them gift cards so they can get what they really want.
Same here. My daughter actually prefers gift cards as I will just pick her out something “lame” lol.
My big thing is to stay away from the stores once I am done. So many times I say I am done then I go shopping with a friend and end up picking up even more gifts.
I can be bad for something very similar at times. I will buy something for someone that I think is perfect – then I will find something else that I think is perfect for that person, lol. I have to stop myself. 🙂
I try to take all the planning into consideration with a list and buying online. I don’t impulse as much that way.
So great ad useful tips. This year we didn’t stick to our budget due to travel plans earlier in the year. Next year we’ll plan better.
I like the idea of a budget buddy! Very clever! It helps to be accountable.
These are amazing tips! It’s so important to stick to budget during the holidays.
We tend to pay cash, and that’s how we don’t end up getting into trouble with overspending. You can’t spend it if you don’t have it. That’s our motto.
I should have read this post before Black Friday! LOL! I need to strap it down now!!!