The starting point for your budget will depend on what costs you will be incurring. I have already booked my plane flights for visiting family members (so these are all paid for) and I will be spending Christmas at my parents so I won’t need to be budgeting for the turkey.
Step one: Work out the expenses. Write a list of all the things you need to buy.
In my example my budget will include Gifts, Cards and Decorations. I might even buy a new party dress if I can fit it in.
The 2013 Planner from Printed Portal includes a budget section which lists the items you will need with additional lists for the larger categories such as gifts, food shopping and household expenses. You can assign a budget, keep track of actual expenditure and keep a running total of your expenses.
As mentioned above, a categorised list will be more organised and manageable. So once you have your master list you should group common items together and assign a maximum spend to each category, taking note of the specific items you will need (and allowing for emergencies).
Step 3: Create a strict Gift Budget and stick to it
Gifts are the easiest thing to overspend on. When you were generating your gift ideas you should have also have been thinking about your budget for each person. There will be a number of factors that you are likely to take into account – agreed budget, age, what they spend on you, the cost of the ‘perfect gift’.
If you do nothing else in your 2013 Christmas Planner – the gift planning and budgeting is essential.
Again, you can assign a budget, keep track of actual expenditure and keep a running total of your expenses.
Have you written your budget yet?