1. Set your budget. The best way to start making a holiday budget is to look at last year’s spending. In what areas did you spend more than planned? Next, list the major items, activities and events you plan to spend money on this year, including gifts, entertaining, meals and travel. Estimate how much you can afford to spend in each category. Set a specific spending limit for each person on your gift list. Many financial planners recommend spending no more than 1.5 percent of your annual income on holiday expenses.
Knowing your spending goals long beforehand will help you stay on track financially as the season nears. This easy-to-use Entertainment Planner can help.
4. Travel wisely. If you plan on traveling during the holidays, take some time to determine how much it will cost you with our Travel Planner.
5. Entertain for less. Holidays are a wonderful time to entertain, and a little planning and budgeting can keep events stress-free. Let our Entertainment Planner help you plan a fun event that isn’t a huge expenditure.