Is it so difficult to stay in your budget during the holiday season?

It’s simple to make a budget, but can you stick to it during the holiday season?

12:32 03 December 2019

Between attending parties and buying gifts for your loved ones, working with a budget is one of the most difficult things you’ll have to do.

Because everyone is stressed-out about staying in the budget during the winter holidays, we put together a guide to help you figure out things.

Take all expenses into account

Your holiday budget is different than the average one because it includes holiday-related expenses. Some of them look insignificant to the budget but when you sum them up, they cost more than your utility bills. Small items like bows, Christmas tree decorations, wrapping paper, and other similar items can build up to your budget and get you in debt. Make a list with everything you need to buy, even if they look like trivial expenses.

Use the 24-hour rule

When you plan an expensive purchase for the holiday season, like a gift for your partner, you should take time and think it over. Don’t buy it the moment you see it in the store, especially when it’s pricey. Wait 24 hours, check if your budget allows it, and purchase it only if you conclude you need it. Wait 24 hours to make the final decision because once the initial excitement of seeing it wears off, you may understand it’s not the perfect gift.

Check online catalogues

Online catalogues and apps are helpful tools when you want to save money. Some online catalogues like the Lidl leaflet, promote the best deals and help you buy everything you need for the holiday season while you stick in your budget. Online stores can help you organise shopping so you don’t go overboard. A quick internet search can always help you find the best price for the products you need to cook the Christmas dinner.

Respect your list

Once you make a list with gifts you want to buy for your loved ones, and supplies you need for the holiday season, you should stick to it. Any sudden change will directly affect your budget, and you’ll find impossible to control expenses. Last-minute purchases and impulse additions to the list put a dent in your budget, so you should respect your plan. If you need to alter the list, try to swap old items with new ones, and ensure they are of equal value.

Plan ahead

Start the holiday shopping season ahead if you want to find the best deals and skip crowded stores. Certain gifts are a fraction of their price if you buy them before the winter season. Decorations are significantly reduced in the months after the holiday season, so you can purchase them in February for the same year. Black Friday is the moment when the holiday shopping season officially starts, so if you know what gifts you want to purchase for your loved ones, you only need to put them in the cart and wait for discounts.

Here are some guidelines that can help you save money and stay in your budget during the holiday season.