With the holidays rapidly approaching, we tend to get excited about spending time with family, the festivities, and all the delicious food. That is, until we think about how much all of that will cost. We cringe and wonder if we can really afford to celebrate the way we want. But we have a better chance of making our money stretch if we have a Holiday Budget in place.
One of the most productive ways to stay within your holiday budget is to go back to the very beginning. This means adding a line item to your normal budget that is labeled ‘Holidays’, or ‘Christmas’. By having that item in place, you will not only allow for that heavy spending season but will feel more comfortable knowing you have the funds to do so.
It may sound like a simple process to set up a Holiday Budget, but you may be surprised to realize just how much you actually spend and what you spend it on.