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Do You Still Pay Debts After Christmas? Check Out How To Make a Christmas Budget That Will Rock The Christmas This Year

How To Make a Christmas Budget

Wondering how to make a Christmas budget? I’m in for you! Christmas is the most all-time celebrated festive season and people spend huge amount on Christmas expenses. The gifts, the extras, the vacation, outing, new wears and many more. Research has proven that most people fall in huge debts after Christmas and do you know why? They don’t spend Christmas on budget! You probably spend money blindly on Christmas without taking a second look at making a budget to track and control your Christmas spending, hence your indebtedness after Christmas. “January is too long” that’s what people say when their finances fall apart after spending blindly on Christmas which isn’t so!

Research has it that more than one trillion dollars is spent on Christmas holidays worldwide, which is huge multiple sum of money. Christmas celebrants can not simply absorb the pressure of it’s arrival on every social media handle. “Money can not buy happiness” that’s the trapping comparison people make in the festive season while accrue huge debt for themselves after the Christmas. This has made budgeting for Christmas a major priority, it’s assumed most of the Christmas expenditure are mostly always attempted to be paid after Christmas, which means people go for loans to meet huge Christmas expenditure! Others spending on cash-in-hand which later forces them to the season of hardships in January.

It’s time to plan for a debt-free Christmas by avoiding overspending while spending Christmas on a budget and that’s exactly what I’m taking you through how to make a Christmas budget. It’s now a priority to stay on budget for Christmas extras,gifts, home decor, food and all the fun on this season. Without your Christmas on budget, the season of celebration may call for a season for indebtedness, take note! You should spend on a budget you can afford and not an amount you want to spend, the latter will force you to spend overboard!

..Things To Note..

√ A debt-free Christmas can only be achieved when you budget for Christmas

√ Stick to the budget amount you budgeted on, you could be derailed easily.

√ Create a budget you can afford and not an amount you want to spend

√ Don’t only depend on your finances to rock your Christmas, be creative to use your personal resource as well

√ Trying to have Christmas on a budget for the first time could be very difficult to stick to but stick to it

√ Don’t only budget for Christmas but also budget for after Christmas

How To Make a Christmas Budget To Rock Your Christmas

1. Decide how much to spend on Christmas

You should plan and decide(with your family) the amount of money to be spent on Christmas and you need to be objective and honest about this decision. The decision you make could save you from the season of debt (after Christmas). You need to decide on how much you are willing and able to afford. A good Christmas budget is one you can afford and not regret later, the real merry Christmas is when you still have enough money after Christmas..

2. Make a list of preference on Christmas shopping

Make a list of everyone you want to buy a Christmas present to including extras, home decor, food and drinks. Include on your list, gifts for unexpected visitors, last minute gifts and extra food! You must keep your list where you can access it easily. And don’t forget it’s that list which will measure your spending.

3. Prioritize your Christmas spending

Like the list of shopping materials, you need to prioritize your Christmas spending. You should prioritize your money as well as your time spending, know where to be at a stipulated time and how much to spend at a given time. Prioritize your list of gifts, presents and your list of activities by allocating amount and time. Take note to first of all prioritize gifts for your immediate family, kids and spouse.

4. Just Ignore Promo Sales During The Christmas Season

You might be tempted to buy things on promotion and before that, ask yourself do you even need that? People like to buy cheap things they don’t need. Just stick to your list, if it’s not on your list then ignore it and pass! Not just because its cheap, don’t buy if it’s not in your wish list.

5. Avoid Spending Based On Your Emotions

Emotions rules decisions so avoid spending according to your emotions. Stick to your list of priority once you are done, don’t go guessing which gift or present is perfect, change your decision on shopping or make different choices either than your list. Emotions drives our money on what to purchased and the list could take you on and on until you control it with this budget. The list on your Christmas budget will take away the emotional tag so that you can have a controlled spending. Stop spending money on Christmas gifts once you have your list on the Christmas budget fulfilled!.

……..Merry Christmas!…….

Read More

The Ghanaian Way: 10 Ways To Handle Money Securely In Ghana Without Losing It For Any Reason

How To Cut Cost At Home In Ghana,Take Note Of Number 6

How To Manage Your First Salary Wisely To Aid Your Financial Independence

Thomas Goodmanhttps://www.talkfinance24.com
Thomas Goodman is a Degree Holder, a prolific Personal Finance writer and Expert. His work has been recognized by Millions of people round the world and the United States precisely. He has since over a decade, helped people to manage and gain full control over their finances through his adequate and concrete write-ups. His Goal is to inform and educate people worldwide on Personal Finance, Budgeting, Banking and Finance, Career Planning and Savings. He loves to Educate people to attain their financial freedom. Reach out to Him personally on [email protected]

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