Why is it that Christmas always falls on December 25, but it often just seems to catch us off-guard with our holiday planning, saving and budgeting? It might only be September, but now is a good time to start looking at your finances to calculate how much you can afford to spend this holiday season.
Some people budget a certain amount per pay period for holiday spending, while others may calculate an overall total amount that they can afford. Whatever works for you. What doesn’t really work, however, is doing what many people do – start spending and then hope that it doesn’t mess up their finances too much in the end.
Having a short, but specific, spending plan in mind can greatly help you to live within your budget and avoid a holiday spending hangover in the new year. Putting your plan together might only take an hour or two, but it will help ensure that you enjoy the holiday season without overdoing the spending and avoid any financial stress.