Do you set a holiday budget? One thing that I like to do is create a holiday shopping list to save money.
It sounds so simple, but when I plan ahead and have a list in place with a budgeted amount for each gift, it saves me so much money.
It’s the same thing as when you create a shopping list at the grocery store. Whenever you have a list you don’t forget anything nor do you veer away from that list.
So why not create a holiday shopping list to save money?
Create a Holiday Shopping List to Save Money
I definitely recommend you try doing this gift list this holiday season. I will even write in gift suggestions for each person months before the holidays. This way I won’t forget.
But, you can take it a step further and not only create a budget for gifts, but a budget for each individual person. You are less likely to overspend when you have a budgeted amount for each person on your list.
It will also help you to stay on track and see who you have purchased for and who you still have left to buy for on your list. I used to just go shopping and put items into my buggy because they seemed like they would be a good gift for someone or it was on sale. What I didn’t realize was that I was just buying things for the sake of buying them. Most of the time I didn’t even give it to anyone because I hadn’t bought it for a particular person anyway.
To get started, you need to make a list of all the people you will be buying a gift for this year. This can include teachers, bus drivers, co-workers, family, friends, neighbors, etc. Try to think of every person you will be buying something for. Even if it is small, include them on this list so that you can track your spending. You then want to budget a certain amount.
Maybe you want to spend $10 on teacher gifts and $15 on a co-worker. The important part is setting a limit for yourself so that you can stay within your budget. On my holiday shopping list you will see a place for name, gift ideas, budgeted amount, actual amount spent, and if this gift is wrapped.
When you are considering your budget. make sure you keep in mind that you will have to also purchase gift wrap, tape, boxes, etc.
Once you have filled out the gift tracker and added a budget amount for each gift, total that column.
If the budgeted amount is too high then you may want to consider spending less per gift or finding alternative gift ideas.
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Have you ever created a holiday shopping list to save money on the gifts you have to purchase?