Image from socialmoms
It is already September and before we know it, it is Christmas already! I am sure not only are the kids so excited with the upcoming holidays but also the kids at heart. There is something with the ‘ber’ months that keep us all happy. However, the ‘ber’ months could also scream danger to our respective wallets.
Remember my previous post about Keep Your Money at Bay During the Holiday? If not, better click the link first so you will be able to know quick tips on how to be able to safeguard your money during this season. If you backtrack, the second step there is to create your budget. It is important to identify the varied expenses that you might incur such as the gifts, the food, the parties and more.
Now, to help you calculate those things, I have created a holiday budget template that you can work around so that you will have an idea as to how much would be your total expenses for the holidays. The template is divided in five tables, namely Gifts, Supplies, Food, Decorations and Miscellaneous.
Run down through each of the items under the table and gauge on a specific budget as to how much will you allocate for such. For example under the Gifts table, how much money would be dedicated for your family, partner and so on. There are also others in case there are individuals or items that I missed. Input your desired budget and the total below will automatically sum it up. Finish the rest of the tables and the Total Holiday Budget Expenses will show your possible expenses. Play around with the table and you can even download it for future reference. With this, you can be able to have an overall idea as to how much money would you need for the holidays in order to cater to the varied expenses you might incur in the remaining days or months. Even more, it will also give you more time to save up and beef up your cash inflow.
Hence, play around with the holiday budget template and revisit it for possible changes.
P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 36 already! Did you deposit the next amount yet?
P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.