![]() ![]() Before you go shopping in addition to making a list of who you are shopping for, include the amount of money you have planned to spend. Now that you have done all the work to plan your holiday budget, you need to stick to it. ![]() Declutter and selling the extra items around your home is a task you can do year-round, but during the holidays, this could be a good source of funds to help with the holiday budget.You may have the added benefit of receiving store discounts that can help with your spending. Consider getting a part-time job to help with the expenses. During the holiday season, many retailers are hiring temporary employees.If you have reviewed and revised your holiday budget and it still does not balance, consider sources of additional income.If you don’t have the money, you have to reduce your expenses. Does the amount easily fit into your budget or do you need to make adjustments? Revise your gift list if you are over budget. Don’t include amounts you have already incorporated into other budget categories (food and transportation). Review your list and the amount of money you had planned to spend. For gifts that do not fit into regular budget expense categories, this month you will need to create that budget category.Carpool with others to share the expenses. Take advantage of any gas deals that are offered at your local gas station. If transportation expenses will be higher during the holidays, try to reduce unnecessary travel to save on gas.Incorporate food baskets and other holiday giveaways into the plans for the meals to reduce food expenses. Additionally, individuals and families can look for community events that provide meals for holidays. Stacy Shelsta, Department of Social Services Benefits Specialist Supervisor for Brookings, Lake, Moody, and Kingsbury counties of South Dakota, recommends for SNAP recipients save benefits for more expensive times of the year. Throughout the holiday month, purchase food items you will need for your food prep that is on sale instead of making one big shopping trip. Use this same rule when planning meals and main dishes. Recipes with added candies, chocolates, and nuts can become more expensive. Make a double batch of one or two recipes instead of several different recipes. For holiday baking, select recipes that use ingredients you usually purchase. For higher food expenses, remember that you don’t need to buy more expensive food or food that doesn’t usually fit into your budget.Look at the holiday expenses that would fall into your current expense categories. Consider reducing or eliminating expenses that can be held off for the month. Review your regular monthly budget so you know which category of expenses you can adjust to have money for holiday spending. Before you can figure out your holiday spending, you need to know where the money will come from.Review your regular monthly budget to include the holiday expenses.Identify a specific amount of money you want to and can spend for each expense. Be very thorough when developing your holiday budget.Look through what you saved from the last holiday to determine what needs to be replaced. Remember to include wrapping paper, bows, gift bags, tape, postage, and cards in the budget for holiday expenses.Do school supplies need to be replenished? Do electronics or electronic accessories need to be replaced? What about clothes? Is there an upcoming occasion where a special clothing item will be needed? Purchasing gifts that meet a need will reduce expenditures in future months. Consider the needs of the recipients when thinking about the gift you want to give. Research to determine the prices of the items to make sure your amount is realistic. For each recipient, list a specific amount you want to spend and ideas for the gift.Do you remember feeling like you spent too much or was it just right? Did your spending leave you with limited savings or debt that you paid for all year? Use that amount as a place to start budgeting for this year’s gifts, food, and transportation. Review what you spent during the previous holiday.Will you be traveling more during the holidays? What will the transportation expenses be? Will you need to stay at a hotel and purchase food?.What events will you need to bring or provide extra food? Will you have extra people at your home that will increase your food budget? If your children have time off from school, how much additional food will you need to have on hand to make sure they are fed?.Be realistic, you have a limited budget, and streamline your list so you feel good about giving to the people who mean the most to you. Are there close friends, co-workers, or individuals in your children’s lives that you want to include on the list? Think about who you want to give gifts to not who you feel you need to give a gift to. Who do you want to give gifts to this holiday season? Family is usually at the top of the list. ![]()
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