Holiday Spending Without Bending Your Budget

Holiday Spending Without Bending Your Budget

Published: November 20, 2017
Holiday Spending Without Bending Your Budget

Are thoughts of the holidays falling in front of you? We are always looking for the perfect gift when celebrating with family or friends. Where do we begin without breaking our budget?

Let’s start with getting financially organized for the holidays! A pre-planned gift list is a MUST for holiday spending to keep track of what you can spend. It’s great to use a holiday spending tracking sheet to: list each person you plan to give a gift to, how much is allocated for their gift individually, as well as any travel expense and food (on the road and entertainment). If you know of a good mobile app for tracking in this manner, feel free to use that instead! Next, add all category totals so you will know how much money you need to budget overall for the upcoming gifting season. The total spending plan must match the funds we have set aside for this time of year. Remember to stick to your plan to be financially successful this holiday season!

Planning ahead for 2018 can easily start now with an ABNB holiday savings account. Take the total amount you spend from the above-referenced list to divide by 11, for 11 months leading up to next year’s holidays. Have that amount automatically transferred to your holiday account each pay period or monthly until you’ve achieved your goal. In October 2018 you will have the amount needed to cover your planned holiday purchases!

Even the best plan may fall short of what we spend. So get creative with some tips to save thru the holiday season:

  1. Be a bargain shopper - Buy gifts in bulk that can be divided into individual gifts.
  2. Make something -Things like cookies, home-made gift coupons to clean someone’s home, or send a framed picture for a memory keepsake.
  3. Consider a group gift or gift exchange.
  4. Make a donation to charity in someone’s name - For those who have everything.
  5. Send an eGift card - Save on shipping and wrapping cost.

Let ABNB help you navigate your holiday spending by helping you get financially organized for the holiday season.

Need a spending plan template? Try this template.


Joselyn H.
ABNB Federal Credit Union
Financial Counseling Manager