Smart Money: Holiday Budgeting
It is easy to overspend on gifts in the holidays because you want to get the “perfect” gift for everyone. In this post I have an exercise for creating a holiday budget. Plus, the great thing about the Holiday Gift Guide is that it shows that great gifts are possible no matter your price range.
1. With a sheet of lined sheet of paper (or a spread sheet if your tech-y) make a three column list. Scribble somewhere on the page how much you have allocated for holiday spending.
2. On the left hand column list the people you want to buy gifts for to show you’re appreciation for them. Don’t forget to overlook the people that may take care of your horse on a daily basis: friends, trainer, barn manager, barn staff, farrier, vet, chiropractor, etc…
3. Using the holiday guide price ranges as guides, put a range in the middle column next to how much you can imagine spending on each on person. At the bottom of the column, total the amount (from the upper range) you would spend.
4. Is it too high for your holiday budget? If so, readjust your price ranges on the right column until you get a total you are comfortable with spending.
5. Now is the fun part, get shopping! The holiday gift guide is a great tool, and remember donations in someone’s name to an equine charity is also a very meaningful gift (and you can control exactly what you want to donate). It’s easy when you start shopping to want to over spend on each person, but keeping this list handy while at the mall or online can guarantee you keep your holiday budget in mind!
Do you have any budgeting tips over the holidays? Did this work for you? Let me know, and happy shopping!