How To Budget For Christmas
With Christmas around the corner, people all over the world are preparing to go shopping for presents. According to Maurie Backman, writer for The Motley Fool, Americans spent an average of $929 on Christmas presents in 2017.
When preparing for Christmas shopping, the first step is to make a list. This list will contain all the people you are interested in buying presents for. According to the article “Christmas Shopping on a Budget” by Scott Alan Turner, when making this list, it is important to figure out the total amount of money to spend on presents and divide it up among each person on the list.
Instead of shopping for everyone in the family, another option is getting a group of people to do Secret Santa. Secret Santa is a Christmas tradition where members of a group of friends, family, or coworkers draw random names to become someone’s Secret Santa. The Secret Santa’s job is to buy a present for the person that they get. Cassie Slocum, sophomore at Olivet College, said “This year I chose to do Secret Santa with my friends because it is easier to buy one gift for one person instead of buying something for everyone.”
In order to make sure to not go over a holiday budget while shopping for presents, experts advise using cash. According to Nicolas Cesare, writer for Fiscal Tiger, when you shop with cash, you’re limited to what you have in your wallet and can avoid ATM fees by planning in accordance with your budget.
Do It Yourself (DIY)
Another great way to save money over the holiday season is to personally create gifts. According to Robert Farrington, writer for The College Investor, “Before you head out to spend your Christmas money, gure out if there’s anything you can DIY. There are some amazing gifts you can make yourself that your friends and family are sure to love.”
A few DIY gift ideas include a personalized scrapbook, tree ornaments or handmade jewelry.