When it comes to Christmas, there are several instructions you need to follow. First, you need to determine how much you can afford to spend. This will depend on your income, savings, and flexibility. Once you know how much you can afford, you can set a budget and stick to it. After you’ve determined your budget, you need to consider other expenses that come with the Christmas season. For example, you might want to buy gift wrap, decorations, and ingredients for dishes. Once you’ve established your overall budget, subtract your expenses from your income to get a final amount that you can spend.
Make a list
Then, you should begin looking at your expenses. You can cut out splurges, such as a spa day, a new CD, or an iPhone. You can also cut back on normal budget lines so you can use that extra money for gifts. Make a list of things you want, but can’t afford, and then make a list of all the items you need.
One of the best tips for sticking to your budget is to keep your expenses within your income. You can set a zero-based budget by using the EveryDollar app on your smartphone. Then, just log on to the app, connect it to your bank account, and start dragging transactions into your budget. You’ll be surprised to see how much you can afford for Christmas. And the last tip is to stick to your plan.