Money is a hot topic around Christmas time so…
I’m Wondering: What are your best tips to actually stick with your Christmas budget?
Money is a hot topic around Christmas time so…
I’m Wondering: What are your best tips to actually stick with your Christmas budget?
1. Set a budget
2. Create a shared Google Docs that houses at the top a list of everything we’ve spent thus far along with a running total (eg: Spent $264/$500), below is a list of everyone we have to buy for and the corresponding budgeted amount.
3. Keep that updated and stay within budget.
4. Do a Secret Santa amongst the adult siblings and spouses.
5. Do most of our shopping in November during bigger sales (Black Friday, Cyber Monday, etc.)
We save up PC points all year to use in December -doesn’t mean all our gifts come from Superstore, but using them in Dec. for groceries helps offset the December expenses. We allocate a certain amount of money to be used for Christmas and I keep a spreadsheet of every gift we buy and the cost so we can keep track of where we’re at through Nov. and Dec. (Also helps us not ‘forget’ any gifts.) Also, instead of taking the kids shopping to pick out stuff for each other and mom and dad, I buy things (so I can control how much $ is being spent,) and for a month before Christmas, the kids ‘earn’ play Christmas money by doing extra chores. Then I set up a ‘store’ in my bedroom about a week before Christmas where they can buy stuff for others. For example I’ll put everything out for my oldest daughter, then all the kids except her take turns shopping in my room. We go through each person and it’s awesome! It’s a good money lesson for the kids and they feel like they earned it and I have a really clean house for Christmas!
This is brilliant! I love the idea of shopping for each other.
1. October 1 – make my shopping list (names to buy for, amount to spend on each person, gift ideas)
2. Cash in all of my reward points for gift cards to shop with (this doesn’t cover everything, but helps)
3. I buy a lot of the more generic (ie: not handmade, local, etc.) gifts online, so I figure out how to bundle orders to save on shipping
4. Stack online deals (ie: cardswap + great canadian rebates + online sale + online promo codes = about 50% or more off most things, better than instore)
5. Pick up local items (craft fairs, small businesses)
6. Done by November 30 (for the gifts I buy, I don’t find December to have better deals than in November if I shop carefully)
7. Buy a case of wine, ready to go for December party invites (not having to stop at the liquor store every time and being prepared for a last minute event is a time saver)
8. Head out after Christmas to buy cards, wrap, decorations, tape and gift bags for next year. At 70% off, I splurge on the nice stuff. One year i picked up gift bags marked down to 5 cents each – almost out of those 🙁
This makes for a very stress free December. This system keeps me on budget every year without a balance owing on the credit card to start the new year.
These are some great tips!
I shop throughout the year, usually finishing the weekend after Thanksgiving. Other than the kids (My niece, and nephews) everyone is getting one bought present, and one homemade present. I’m also making truffles for everyone, so that will count as part of their present as well. I’m fairly crafty, and get a lot of good ideas from Pinterest of things to make for others. I also order online, since most things are cheaper there than in stores. But watch out for shipping costs, and make sure they ship to Canada (like amazon.ca does, but amazon.com does not)
I do my best not to compare mine with others! That’s the worst way for things to escalate, $$$ when you try to keep up with the Jones (or the Kardishian) ;)!
No kidding! There is always someone with better toys!
We put aside any extra money left over from our budget for the kids. They usually have a budget, which goes fast with all the gadgets they want. Two years ago, I put a stop to us buying gifts for adults in the family and said when they had kids of their own, we will start buying gifts for the kids. We supply the xmas turkey (free from hubby’s work) and usually bring the alcohol and dessert, so that is enough.
For years I was frustrated at having to buy for family members that we do not have a relationship with and see only once a year and don’t even interact with them when we see them. I might as well just give money to random people walking by on the street. And in return we were receiving regifted gifts or useless things that only wound up being dontated. Hubby feels embarassed, but I try to point out the logical things, like we don’t know these people……..! I may be scroogey, but I have always believed in being frugal and also want to make xmas more about food and being to gether with the people that mean the most.
We started telling the adults only consumable things and spend most money on the kids and making time for each other. We do alot of homemade coupons for chores and make christmas about family and friends and not the presents. We try to live frugal so how needs more stuff. Merry Christmas all!
How this started is 12 years ago hubby & I got a smoking deal for 2 weeks in Mexico (all inclusive) over Christmas and New Years Eve.
What blew us away was, in Mexico Christmas is all about FAMILY and time with family.
The true meaning of Christmas…. it is not about gifts, Santa, and what you should buy someone.
So now we only buy for the kids and both sides of our families are doing the same. No stress!
The most imporant thing to all of us is time together and we do this about every 1-2 months.
P.S. I am not cheap. This week I am treating my Brother to dinner and Paul McCartney as he is a big fan.
I don’t set a budget and then I don’t feel guilty. 😉
hehe, I like your style! 😉
A while back on my husband’s side of the family we decided to draw names for Christmas because he is one of 4, and everybody started getting married/settling down with a partner and it seemed more sensible to be able to spend $30-50 on one person, so they could get a really nice present, then to get everyone a crap $10 gift! So then I suggested we do that in my family.
We kind of make up for that by making a really big deal out of Stockings, even for the Adults. My mother and law started this, so I followed her lead and now do it for my family. She keeps an eye out and buys stuff for people’s stocking throughout the year to make it more affordable. I did that this year.
Because I make and sell my own beauty products, I include that in stockings, if I have more energy there are lots of other homemade gifts you can make, it’s more fun if you have a friend who wants to do this too, then you can get together and make a bunch of stuff.
Life as a Mom of young children can be hectic enough as it is. Throw in the crazy holiday season & it’s easy to get overwhelmed. I have lost track of what I’ve bought & tucked away in the past, but have broken the cycle in the past couple of years. One of the simplest places to start would be to WRITE DOWN what you’ve bought. I prefer to write it on an envelope with the receipts inside which I put in my purse. Whenever I’m considering a purchase with all of the hot toy deals, I take a look at what I already have and often decide not to because I have so much. That, and I prefer to use cash only for gifts too (or gift cards for the stores I’ll shop at).
We’re big fans of Christmas! So much so that we have a separate account at ING for it! In September, we decide how much we want to spend not this year, but next, and then we put a certain amount into the account every paycheque over the year.
Then when Christmas comes, we sit down and write out lists, to make sure we know exactly what we want to buy and where to get it for the cheapest price. Then we pay directly out of the ING chequing account, and therefore can’t go over budget! LOL
Also, we often do family presents, where, for example, my sister and her husband, my mother, and I will all put a certain amount in for something big, like the 13-year-old’s iPod touch he wants this year, which helps keep costs down.
We set a Christmas Budget in January.
We put aside “CASH” Every payday. And watch sales all year long.
We use only the Cash to purchase gifts throughout the year.
We use coupons and discount specials.
In the end we actually have money leftover!
The budget includes, Gifts, wrap, food and festivities.
Our reward for not going over or spending all our budget?
A family weekend somewhere like Fairmont Hot Springs every 2-3 years!
This year because our son lives on the West Coast, and if we dont use this years budget money we will be taking all our Children and Grandchildren to a Central location and pay for a weeks worth of Camping and food. THIS is going in the form of a “Coupon” for our Children who are all adults!!!