How to Create a Holiday Budget (2024)

The holidays are the most wonderful time of the year, and let’s keep it that way. Build a budget you can stick to and one that won’t break the bank and cause stress.

Follow our list of Holiday expenses and our budget break down to keep on track, save money, and enjoy the most wonderful time of year!

Start with a list of holiday expenses

Holiday Travel

Whether you are driving or flying, these expenses are sometimes the most expensive and important to keep track of.

Food

If you are hosting the holiday dinner this year or just bringing the mashed potatoes, research grocery store sales to purchase your food and ingredients at the best price. If cooking isn’t your thing, create a delicious charcuterie board on a personalized slate cheese board.

Work Gifts

Sometimes we forget that we agreed to secret Santa at work, but set aside a small amount of money for gifts and food for coworkers in advance. If you are tight for money this year, stick to baking cookies or a loaf cake to share. No one turns down delicious homemade cookies.

Donations

The holiday season is about giving back to the community. Ensure that you keep money aside to give back to the local food bank, dog shelter, Church, or other charitable business that support the community throughout the year.

Gifts for Friends & Family

Buying gifts for your friends and family may be the biggest expense at the Holidays. There are a few ways to not go overboard when purchasing gifts. First, create a reasonable budget, for example, spend no more than $50 per person. Agree with your friends and family on a budget, so no one gets more or less than another. If you’re like me, finding the perfect gift for everyone can be hard, but if you are looking for meaningful, personalized gifts,

Gift Packaging Materials

Don’t forget to factor in the packaging! We spend so much time buying the gifts, that sometimes we forget they have to be wrapped. Local dollar stores carry wrapping paper for a lower cost, so you won’t over spend on wrapping.

Gifts & Tips

Give an extra, “Thank you” to the service workers in your life. Give a small gift to the mailperson, garbage workers, landlord, and neighbors. Whether that be a small gift card, homemade cookies, or other little trinket, they will surely appreciate it. If you prefer to give physical gifts instead of money, this budget-friendly personalized monogrammed glass ornament is perfect! The ornament is custom engraved with a monogrammed deer antler wreath and personalized with a last name, which is perfect for acquaintances.

Decorations

Turn up the holiday music and get to decorating, but be sure not to overspend when purchasing new décor. Most store chains carry tinsel garland and décor to brighten up your space. A personalized decoration we love is this Christmas countdown slate wall sign. This wall sign is personalized with the family’s last name and has a space to write and erase the days left until Christmas with chalk. It's fun for the whole family.

Assign Money to Expenses

Now that you have a list of who and what you have to buy, create a reasonable budget for each category. If your budget is $1,000 this Holiday season, divey to money up between categories. There is an example budget below for reference.

Track Your Purchases

Keeping track of all your purchases, in one place, is the easiest way to ensure you don’t over spend. This personalized notebook is perfect for writing down your purchases and keeping track of receipts. Plus, it is always there to help you remember what you’ve bought.

More Tips for Saving Money

Shop During Sales

Shop during holiday sales to get the best bang for your buck. Our next sale is Labor Day weekend and we have a huge weekend long Black Friday sale. Click here to follow us on social media to stay up to date on all the latest deals and steals.

Make DIY Gifts

Is there anything more thoughtful than a homemade gift? Dig into your creativity and make gifts for everyone on your list. Pinterest is the best place to ignite your imagination. The possibilities are endless; you can make ornaments from scrabble pieces, make candles, hot chocolate on a stick, and coasters.

Emergency Expenses

Always leave room in your budget for emergencies. We all forget things, it’s inevitable. Having an extra $75 in your budget reduces stress and headaches when you forgot about a gift or a party. This way, you won’t have to take money away from another expense.

Example Holiday Budget

The holiday budget and saving money will only work if you stick to the plan!