Tuesday, February 2, 2010

Tips For Budgeting NOW For Next Christmas

You may find it funny for me to talk about preparing for Christmas in February, but advance preparation is the key to not go into debt this coming December. Here are a few ideas:
  • Create a Christmas budget NOW! This is the most important thing to do to stay out of debt. Make a list of those you would most likely shop for. Be frugal with how much you might budget on each person. By sticking to my budget last year, I paid cash for everything. That was sooooo nice! Here is a Christmas budget worksheet: Worksheet
  • Set up an automatic weekly transfer from your checking account to a Christmas savings account. Even if you transfer $10 per week, you should have a nice sum by the end of the year.
  • If you pay 10% of your monthly income to tithing, pay a little bit more each month than you normally would. You may end up being a full-tithe payer by October or November. Then use the money you budgeted for tithing for your Christmas funds.
  • Shop now for a few gifts. Some of the best clearance sales are going on now. You could spend $8 on a sweater now or $20 in November. There is nothing wrong with thinking about loved ones now. Just remember where you hide the gifts.
  • If you like to make homemade gifts, pick up some yarn, or fabric you may find on sale now!
  • Planning ahead will prevent a lot of stress and financial challenges later.


  1. I just got both of my kids' major Christmas gifts on clearance for 50% off: a pirate set my for 4 yr old and a princess castle for my daughter who will be 2. I'm so excited to already have this done, and to have saved so much money!

  2. We have a special savings account that we put a small amount in each month. By the time Christmas comes around we have quite a bit and a whole lot less stress than if we were to try to budget out of one payday close to the holidays.

  3. This is an excellent idea, i have been gathering in my christmas presents sice the start of January, after always being in debt and getting out of it all last year, that will never happen to me again, always buy cash The way forward is to buy throughout the year, then you never miss the money and if any emergency happens you have your presents right there, don't forget the wrapping paper.


Thanks for your comments and suggestions!