Nov 21, 2012

Finance Tip: Create a Holiday Budget and Stick to It

budget_piggy

Analyze how much you can realistically spend on holiday gifts this year and then divide that number per gift recipient. For example, if you have $500 to spend on gifts, and you need to buy gifts for mom, dad, boyfriend, girlfriend, and 3 friends, allocate what amount of the $500 you will spend per person. The more people you have on your list, the more creative you will have to be. There are lots of ways to give gifts without it breaking the bank, so think outside the box.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. This post was contributed by Brittney Castro, CFP® professional and creator of www.FinanciallyWiseWomen.com.   Brittney Castro is not affiliated with TheEveryGirl.com. Brittney A. Castro is a registered representative with and securities offered through LPL Financial, Member FINRA/SIPC. California Insurance License #0F3389.

  • http://twitter.com/Styleisclass Pam

    more like $150 for everyone.. That’s just me though. 

  • Emily T

    My husband and I have decided on $250 for each other this year. And then we have his parents (we’ll split that cost, he’ll pay a little more) and I have my mom and a friend. That’s about it though- my family has really cut back on gift giving.

  • http://livingmylifeasiknowit.wordpress.com/ Christina Tamm

    I have resorted to sending cards to everyone and buying a little something for my mom and her husband, my dad and stepmom and my sister. My goal is to make the gifts personal this year and spend less than 150 between them all. 

  • http://tarabrooke.com/ Glamour Muse

    This is really a practical way of budgeting money for gift giving. Do you also have tips for budgeting food this Christmas?

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