The holidays will be here before you know it—is your wallet ready?
Every year, it seems like the holidays arrive sooner and sooner. Between meals, travel, gifts, and events, the season can end up putting a lot of strain on your finances. This year we’re helping you prepare for the holidays ahead of time with a series of tips and tricks to help you enjoy all that the season has to offer, however you choose to celebrate.
How do I build a holiday budget?
A holiday budget is like any other budget you’ve built in the past but adjusted to accommodate your plans. When taking the time to make a list of potential expenses like gifts, also consider:
- Holiday parties
- Costumes or themed outfits
- Meals you’re hosting or attending
- Travel—including transportation and accommodation
- Donations to your favorite charities
Once you’ve made your list, total how much you’ll need to cover these expenses over the holiday season and compare that to your usual monthly budget. This is the time to look back at your spending during last year’s season to see if there’s anything you missed. These pieces will help you put together a well-informed budget so you can properly prepare.
What do I do once I’ve made my budget?
Now that you’ve got a good idea of how much you’ll need, determine whether or not your holiday expenses fit into your existing budget. Take a look at places you can save a few bucks (like cutting down on subscription services or making more of your meals at home) so you can get your budget back in balance.
If you know you’ll be working less during the holidays, be sure to factor that in as well. You might also want to pick up some extra hours if you can to help pad your finances.
Getting your budget in order is a great start, and in the coming weeks we’ll help you determine where to stash your holiday fund and how to spend wisely.
To learn more about how First Entertainment can help you with all of your financial needs, visit us today.
