Budgeting Tips to Make Giving Gifts More Affordable
Did you know that the average American spends $720 on shopping during the holidays? And over $1,000 each holiday season. If you are on a tight budget, those figures are terrifying. But the holidays don’t have to be overwhelmed with stress about how you are going to pay for it all. Here are 5 simple tips to help you save some money and still enjoy the holiday season:
Start Saving Early
Put aside a little each month. Consider having a set amount automatically sent from your payroll into a Christmas savings account. If the same amount is transferred before you have a chance to see it, you won’t even miss it.
Another option is to see if your bank offers a program where they will round up your purchases, and transfer the difference to a savings account. You’ll be surprised how quickly it adds up.
Set a Budget
Pick a number and stick to it. Plan how much you are going to spend on each person, so you don’t overspend on one person and end up increasing your budget.
Only Buy for the Kids
Have a discussion with the adults in the family, and toss around the idea of only buying for the kids. Eliminating the need to buy for the adults can save you hundreds of dollars.
Try Secret Santa
If you can’t picture not exchanging gifts with the adults in the family, consider starting a secret Santa gift exchange. Each adult will be responsible for buying one gift for another adult. This way everyone gets a gift, and everyone is spending a lot less money.
Set a Limit on Spending
When you are talking about gifts, discuss setting a limit on how much is spent. Sometimes we end up spending more on gifts for fear that we are not spending as much as everyone else.

Tom serves as the Financial Consultant for Heritage Bank. In partnership with LPL Financial Services, he assists individuals, families and business owners with all aspects of financial planning including retirement.
LPL Financial Consultant • 678-284-3302 • [email protected]