The holiday season can be difficult when money is tight. So we are bringing you 5 easy budget tips to keep you going through the holiday season and making room for the things you want and the things you need.
1. Set Your Budget Before Anything
The most important step in sticking to a budget is to set one up. Make a list to figure out what your holiday spending will look like so that you know what you can afford to spend vs what you can’t.
2. Create a Spending Limit
Going hand in hand with creating a budget is limit yourself on how much you’re going to spend on gifts. You can set these limits by family, couple or individual. That way you know about how much you’ll have to spend on the gifts and once you hit that mark — you’re finished.
3. Use the 4 Gift Rule
A super simple and easy thing to remember whenever you buy something for someone! All you need to ask yourself is it something:
- They want
- They need
- They can wear
- They can read
4. Take the DIY Route
Here at MC, we love a good DIY Project and the holidays are the perfect time to show off your crafting skills. This also saves you a lot of money and when you make it yourself, it is more thoughtful than just going out to by a gift.
5. Suggest a Gift Exchange
This works well for people who have huge families. It’s one thing if you have 5 or 10 people to buy gifts for, but buying gifts for 30+ people is a different beast. Your spending can very easily get out of hand when it comes to having that many people to keep track of!
Holidays are supposed to be when you show your love for your loved ones by spending money on them, but that doesn’t mean you need to go broke!