The Best way to Budget for Christmas when Living Paycheck to Paycheck

In my experience, the best way to save for for Christmas is with a budget. Especially if you are living paycheck to paycheck.

I didn’t always have a budget. As a matter of fact, when my kids were young, I budgeted for Christmas that lasted for two months. For example, I started my Christmas shopping in the month of October. Ultimately, my hope was to start buying gifts out of each paycheck to alleviate the budget shortfall.

In reality, I knew I didn’t have enough money for all the gifts I intended to buy. It’s important to note, this plan did not work and is not considered budgeting. If this sounds like you, here are some motivational reasons to create a budget for your money.

After all, I was trying to figure out how to budget for Christmas while living paycheck to paycheck. Notably, a large, expensive holiday cannot be budgeted in two months! Talk about impossible!!!

 As we shopped for Christmas presents, we continued to swipe the credit card. We knew we couldn’t afford almost everything we bought. Knowing we couldn’t afford it, and having credit available, it was easy to keep buying stuff we didn’t need.

Eventually, this led to tension, frustration and anxiety around the holidays.

Everybody wants the holidays to be fun, memorable and exciting!

Social Media and Christmas

My advice, don’t compare yourself to other people on social media. This can be very depressing!

Pictures on social media can make it look like other’s are having more fun, received more presents or even look happier. It’s important to realize, money cannot buy you love, happiness or joy.

It’s the same thing when it comes to gifts. Children don’t feel more loved because you buy them many gifts or expensive gifts.

Another key point, is the hype of commercials and social media makes it more difficult be frugal. We can shop on our iphone, right in the palm of our hand making purchases very easy. Thus, making it very easy to spend a lot of money very quickly.  

Christmas is not supposed to be about our social status. It’s important to keep this in mind while you are celebrating and enjoying the holidays.

Budget for Christmas

The best plan is to have a budget. I have an awesome budget that will help you budget like a pro! It’s the same budget I use today.

I once heard “everything that is worth doing, is difficult.” It’s so true!!! To point out, a budget is something you really have to work at.  Equally difficult, is the determination to stick to it.

If you are excited about Christmas every year. It’s time to get excited and determined to budget money for Christmas! You can make your future Christmas’s intentional, relaxed and enjoyable!

You can celebrate being in control of your money and freedom from being controlled by your money! Let’s look at how exciting it will be:

Benefits of Budgeting money for Christmas

1. Relieves stress around the holidays.
2. Gives you freedom to buy presents when you choose. Maybe wait for a big sale!
3. Have less arguments with your spouse – the one you truly love and want to enjoy the holidays with.
4. Alleviates the need to use your credit card and pay more for all your purchases through interest.
5. You won’t have to take out a loan & no monthly payments throughout the year to pay it off.
6. No credit card shock or unexpected large credit card balances in January.
7. Avoid the stress and tension with your spouse in January when the bills come due.
8. Ultimately you are living intentionally and with purpose when you save money for a big expense like Christmas.

Christmas expenses add up quickly

I clearly remember living paycheck to paycheck through the holiday season like it was yesterday. Not only was the stress and frustration heightened, we also didn’t budget or save enough money for Christmas. Consequently, it takes the joy, happiness and excitement out of the holidays.

There are so many expenses associated with the holidays, let’s take a look.

1. Christmas presents for family and friends
2. Stocking Stuffers – Not sure why this can get expensive, but it does!
3. Exchange gifts for co-workers & family
4. Christmas outfits – dresses, dress clothes, shoes, etc.
5. Giving – Salvation Army, church or other donations
6. Decorations
7. Christmas dinner – feeding friends and family
8. Traveling expenses

First of all, these expenses add up very quickly. Second, it is impossible to add all these things into an already tight budget. Especially, when living paycheck to paycheck.

To point out, January comes around every year. This is the month I used to call the hangover month! I enjoyed spending time with friends and family and all the gift giving during the month of December.

Then January comes along with all the credit card bills. Consequently, you are left with (your hands over your face) overwhelm and debt that you cannot pay off.

Generally speaking, Christmas is such an expensive holiday. Ultimately, if you want to easily purchase gifts for the holiday, the best way is too budget for Christmas. You owe it to yourself to save money throughout the year.

This budget changed my life. Ultimately, it has made my life much easier and less stressful! It’s going to be tough financially, until you decide you need a budget.

When to start saving money for Christmas

Given all these points, every large expense like Christmas needs a plan. In fact, the best plan is to create a budget.

The best and easiest way to save for Christmas, honestly, is a year in advance. When I started budgeting this way, it literally changed my life.

The stress of putting all my Christmas purchases on my credit card are gone. I start saving money in October of the previous year. I usually start Christmas shopping in the end of October or beginning of November each year.

On the positive side, when you have money saved up in your budget for Christmas, you have options. To point out, when you find something on sale, you can purchase it. Essentially, saving money by getting gifts at discounted prices.

The best and most rewarding news is that you are not paying your credit card company interest anymore! YEAH!!!

For all these reasons, you need a budget for Christmas. I created a powerful budget that will help you save money for Christmas. It’s the same budget I use today.

Benefits of the Powerful Budget

• You will save money!
• Large expenses are easier to make.
• You will be organized.
• Important information will be at your fingertips.
• You will save time!
• It will relieve stress!
• Has a tutorial so you will be successful!
• It will make your financial life so much easier!

Get the budget that helps you save money for Christmas

Make your life easier and get the powerful budget that allows you to save for big expenses that happen every year. It’s going to be a different way than you are used to, but that’s ok! This budget is also great for saving money on insurance and saving for your Amazon Prime membership along with saving for extracurricular activities.

Here’s how to get your powerful budget:

Step 1. Sign up to get on my email list. Download the Budget worksheet.

Step 2. Fill in the Budget with all your financial information.

Step 3. This budget comes with a tutorial. The tutorial will come in a second email. It is designed to give you tips along with helping you navigate and understand your new budget. Ultimately, allowing you to be successful with your budget.

One last point

I want to help you. I want you have the easiest way to budget for Christmas. This budget is built to help you plan for large annual expenses and can even save you money. This budget will provide you with an in depth look at your income, expenses, savings and cash flow (money left over).

• Resource: 1:1 Coaching (financial coaching)

If you struggle with making a budget, I am here to help! Stop struggling and get in touch. I want to help you and am passionate about helping you. I love talking about money and ways to make your money life easier. Financial happiness starts here.

Happy Budgeting!