How to Budget During the Christmas Season

How to Budget During the Christmas Season

With Christmas just around the corner, you’re probably starting to plan ahead for what you’ll spend in November and December. Between traveling, hosting parties, and shopping for gifts, it’s easy to spend much more than you anticipated before December is over. We want you to kick off the new year in a financially stable position, so in today’s post, we’re going to discuss a few different ways in which you can save money during the Christmas season without becoming a Scrooge.

As we’ll explain in more detail below, you can stock up on all of the Christmas lights and decorations you need at an affordable price when you shop with The Christmas Light Emporium. Visit our catalog to find LED Christmas lights and other magical decorations at unbelievably low prices!

Saving Money During the Christmas Season

Make a Budget 

A picture of a blue ornament on a Christmas tree.

First things first — start by determining how much you make each month and how much you can afford to spend on gifts. You might try setting a per-person spending limit, or you can set a general spending cap and purchase gifts accordingly. No matter how you choose to budget, be sure that you’re not simply pulling a number out of thin air. Try to estimate what you’ll be spending on parties, travel, and other small purchases that can add up during the holiday season.

Find a Reliable Tracking Method

Once you’ve established a budget, it’s time to track it. If possible, try opening a separate checking account that you can use solely during the Christmas season. Most banks will allow you to create a new checking account for free, and almost all major banks have applications that allow you to check your balance at any time.

If you don’t want to create a new checking account or go through the process of downloading an app, you can always manually track your expenses by using a spreadsheet or writing down your purchases. Most spreadsheet applications have budgeting templates that make it incredibly easy to calculate your expenses and savings!

There’s no right or wrong way to track your expenses — the most important thing is that you do it consistently.

Look for Easy Ways to Cut Back

Whether it’s peppermint mochas on your way to work or going out to eat once or twice each week, every expense adds up and can quickly eat away at your budget. As just one example, a standard holiday mocha typically costs about $4.75. At a rate of five drinks per week, you’re looking at approximately $24 spent on coffee each week. That’s more than $216 between November and December!

That being said, you don’t have to deprive yourself or give up your favorite Christmas treats just because you’re budgeting. You can easily make flavored coffee in your own kitchen at a fraction of the cost, and cooking for yourself instead of eating out can free up a significant amount of money in your budget.

Shop Early

Shopping early is one of the best ways to get ahead of the holiday rush while also saving money. Black Friday and Cyber Monday are great for shoppers who want to start in November, but keeping an eye out for deals throughout the year can sometimes help you find lower prices on items that are marked up and then discounted during the holidays. If you aren’t able to shop early, then tackle your big-ticket items first to ensure that you have plenty left for stocking stuffers and last-minute essentials.

Opt for Exchanges and Limits

Almost everyone worries about money during the Christmas season. If you know that your friends and family are probably in the same position, then talk to them about setting a spending limit or limiting the number of gifts each person can give. While setting limits on Christmas gifts may not sound generous at first, it can actually prompt people to put more thought into the gifts they purchase!

Have Everyone Contribute Image of cookies and desserts on a plate.

Christmas is about gathering and celebrating with the people you love, but purchasing enough food and drinks for a large group can quickly become expensive. If you’re going to be hosting a Christmas party or having friends and family members over for Christmas, see if each person can sign up to bring a side dish, appetizer, or dessert. You’ll be surprised at how much of a difference it makes!

Shop With The Christmas Light Emporium

Christmas just isn’t the same without the magic of Christmas lights and decorations, but even one set of LED Christmas lights from a major supplier can cost you a small fortune. At The Christmas Light Emporium, our mission is to help you get everything you need for a fun-filled Christmas without blowing your budget. We offer free shipping on orders over $149 and allow returns for up to one year after your purchase. We also offer unparalleled customer support that you won’t find at any big-box retailers.

Start saving and look through our massive catalog today!

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