And if someone makes you feel like that’s not good enough, the problem is with them, not with you. I hereby release you from those expectations. On the other hand, if things are really tight this year and you find yourself searching for frugal gift ideas under $15 or even under $5, please don’t feel like you have to live up to what anyone else thinks you should spend on each gift. If you’re out of debt and have an emergency fund built up and you want to spend $800, have fun! The good news is, you can give your family a meaningful and memorable Christmas - without going into extra debt to do it! Simply put, budget for an amount that won’t keep you up at night worrying or trying to pay off credit cards in the new year. The last thing you want to do is to start paying off those gifts in the new year. Only plan to spend as much as you can save up in cash between now and Christmas.If you are delinquent on any of your bills (rent, utilities, credit card, etc) or think you might be in the near future, cut this figure by at least half.There are two big exceptions to this rule: There’s nothing that says you couldn’t spend less. Remember, this is a maximum budget number. If you make $10,000 a month, then it might make sense to spend $1,000. You don’t have to be a mathematician to see that scenario adds up to a whole lot of debt.Īs a rule of thumb, I recommend setting a Christmas budget that is no more than 10% of your monthly take-home pay.įor example, if you take home $3,000 per month on average, your Christmas budget would be $300. How much should you spend on Christmas?Īs I noted above, many Americans plan to spend $800 or more on Christmas gifts, yet according to one survey, more than half have less than $1,000 in savings. Plus, this is the perfect time to start planning for next year because everyone on your list is fresh on your mind. You might have to get creative and be careful about your priorities, but you can still follow this plan to spend within your means this year. If you happen to be reading this in December, don’t fret. Seem too tight? Don’t worry, you can find tons of frugal gift ideas right here! Or if you already have money saved up, write down that amount. That number is your family gift-giving budget for this year. Then multiply that amount by how many months you have left until Christmas. Talk with your spouse about how much you can realistically squirrel away from your monthly income for the purpose of Christmas giving. Just the opposite, let’s make a plan now so you can enjoy this Christmas focused on the true meaning of the season.įirst, click grab your Christmas Budget Worksheet and then follow the four simple steps below to make it work to give you a stress-less Christmas this year! 4 Step Christmas Budget Worksheet 1. I don’t want you to spend the holiday season in guilt, fear, and stress of spending. The average family is expected to spend over $800 this year on Christmas gifts alone. Add in decorations, wrapping, food, travel, and greeting cards, oh my, and Christmas could put you into debt for years to come. Download this Christmas budget worksheet printable below and enjoy this holiday season! Don’t spend the holiday season feeling stressed about spending.
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