Especially for Families with Kids!
Christmas has had a way of overwhelming our family with expenses that we forget about each year until that inevitable “Oh yeah – I wanted to get that gift for that person, too…” memory surfaces, or those great Black Friday deals that make me rush out to stock up on bed linens for the house that I hadn’t planned on getting quite yet…You know what I’m talking about! So we have to do a little Holiday Budgeting ahead to make sure everything is covered.
Combine the busyness of the season with your kids suddenly finding yet ANOTHER toy they HAVE to have for Christmas (they already asked for about 97, thereby making decision-making near impossible for you), plus cool new products and WAY too many good deals to pass up, and several weeks before Christmas, you have officially, again, blown your Christmas budget this year. According to several articles I’ve read, the average American family spends around $1,000 on Christmas each year.
So, as the stores now fill with Christmas decorations and music (sorry, retail employees, but it does make us buy more), here is a Budgeting and Planning list to use. This works for our family, but every family is different. Add or edit whatever you need to!
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Thanksgiving dinner. Even if you’re not hosting the meal, you may be bringing something or have travel expenses. (Hooray for gas prices falling recently!)
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Baking ingredients. You probably will bake something. If you don’t, perhaps you’re buying pre-baked goodies. Either way, include flour, sugar, corn syrup, butter, sprinkles…and be sure to drop some off at my house…:)
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Parties and Entertainment. Party clothes, host/hostess gifts, shows, concerts, parking expenses.
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Photo sessions with Santa. At the Mall of America, you can reserve a time with Santa here. You can even buy a DVD of your kids’ visit with Santa. Plan!!!
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Photo & Christmas greeting cards. If you had/have a professional family photo taken, add in those costs. Plus postage.
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Decorations. Lighting expenses if you decorate your house, buying a fresh Christmas tree.
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Gifts! Sit down and write a list of EVERYONE you’re giving a gift to, and decide NOW how much you can reasonally afford for each one. Remember co-workers, teachers (school, private music lesson, coaches, etc.), daycare providers, newspaper delivery person, mail carrier. (Bonus! Here’s one of our posts on Frugal Christmas gifts)
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Charity. Remember your church, Salvation Army, Union Gospel Mission…anyone you normally give to and would like to give to.
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Christmas dinner.
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New Year’s celebrations. Are you having a party or going out for the evening and hiring a babysitter?
Merry Christmas and Happy Holidays!