Budget Tip for January

Life gets busy for everyone after Halloween. There are so many social gatherings, gifts, and activities. To keep our budget intact during the last few months of the year, we estimate how much we might spend. This lengthy task happens in January and since I did it for a customer, I can show you.

First Step - Total up the number of people you gift. We shop for 10-12 people and 2 Secret Santa. That is 12-14 gifts. We can sometimes trim it down if the gifts are for couples rather than individuals, but we at least know the max.

Step Two - Calculate the total amount you want to spend on each person or total for all gifts. Our amount is pretty steady every year.

Step Three - Total the number of events, luncheons, dinners and parties that you will attend in 2017. We usually do two dinner parties each year. We then attach a max amount of money we want to spend at these events.

Step Four - Total and divide. Add all the amounts and divide by 12 months. We save a small amount each month to use during the holiday season. This method is much easier on our wallets rather than it all coming out of in one month.

If you had a difficult time this past holiday season, try saving throughout the year. This method can work for birthdays, vacations and more.

Good Luck!

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