A Spending Game Plan for the Holidays

Christmas Picture from www.backyardlandscape.net

Did I mention that saving money at the grocery store is another area of expertise that I teach, write about, and promote?  A few years back, I published a book on the subject, Beating the High Cost of Eating: The Essential Guide to Supermarket Survival.  It is also published by Cedar Fort  and available in some bookstores and on my website   In conjunction with it, I prepared a Spending Game Plan to help you get through the holidays without breaking your budget.  In the frenzy of the Holiday shopping season, a spending game plan should be considered as an essential money management tool.  A spending game plan will help you control, yet enjoy holiday spending.  Here is a summary of the information in it:

1.  PLAN:  Set aside an hour or two to pour over magazines, consumer information, and the Internet for ideas and price guidelines.

2.  COMPARE:  check out newspapers, catalogs, Internet sites, discount outlets, department stores, etc.  Price differences can be astounding.  Compare with a pencil and paper (or pda) in hand.  Your memory is not a reliable resource, especially as there will be more demands on your time, memory and budget in the busy holiday season.

3.  CONSULT: Consult with a spouse, family members or friends to be sure you agree beforehand on any joint gifts that may be part of your plans.

4.  SHARE COSTS:  Combine funds to stretch your budget.

5.  NOTEBOOK: Carry a small notebook in your purse or pocket, or use your preferred electronic device.  Jot down facts, sizes, ideas, and dollar limits per person.  Use this information as an item-comparison resource and decision list.

6.  LISTS:  These will help keep things under control and can be fun. Planning well this year could give you a head start on next year if you keep the lists as a resource.  Use your lists as shopping tools.  Plan, revise, and check off items as they are purchased. In the holiday rush, this one thing alone can help you maintain budget control. 

7.  PLAN SHOPPING:  Spread shopping out over several excursions.  Don’t wait until fatigue and desperation set in.  Use the Internet when you can (don’t forget to figure in shipping charges!) Calculated shopping is a goal of the spending game plan.

8.  BUDGET:  Some people mistakenly only consider gift costs as a Christmas budget.  This is a costly mistake.  Remember to budget for the entire holiday season, and all the different experiences that includes:  parties, New Year’s Eve, family/friend dinners, gifts for work associates, neighbors, others.  Be realistic, but use a budget.  The more detailed it is, the better money management tool it becomes.

9.  DOLLAR LIMIT:  Set it! Stay within it!  When it’s gone, that’s it!  Remember to estimate high and include taxes.

10. CREDIT CARDS:  Try to use only one, and set a spending limit.  Credit card expenses should be part of your budget, and like other money sources, stop spending when you reach your budget limit (NOT your credit card limit!)

11. NEXT YEAR: Start saving for next year on December 26^th of this year.  Even a simple plan works if you stick to it.  Figure out how much you spent this year, divide that by 12 and save that much per month.

If you’re not sure how to go about figuring out a realistic Christmas budget, you might want to check out these websites that give good examples:  money for regular people and Christmas Budget .   

Good luck sticking to your budget.  You’ll find it’s one of the best Christmas gifts you can give yourself.