How do you budget for Christmas?

flowerofscotland

It's been a long time since I budgeted for Christmas and I know from the analysis of my spending that I did when I had my LBM that overspending at Christmas is one of the causes of my debts.

So this year I am determined not to add anything to my debts from Christmas spending and then work out a budget for 2007 and save monthly to cover it. I've started a spreadsheet and been playing around with headings - this is what I have so far:
Presents
Food
Drink
Night out
Secret Santa
Tips
Extra petrol
Cards
Postage
Wrapping
Decorations
Hair
Clothes
New Year's Eve

Can anyone think of anything else I should include? Some of the headings are also in my usual budget so for example I will only include the extra food I will have to buy for Christmas lunch etc.

To make it more interesting and in the spirit of DFW I have included a column for 2005 and plan to estimate what I spent last year and then see how much I have saved. I am aiming for 50% less than last year. I haven't put in figures because I don't think it would be useful - we all have different budgets and I'm not looking for comments on how much I spend on each person etc - just on the overall headings and target reduction.

itsnotfair_2

If you have anything left from 2006, don't forget to get what you can in the sales. Like cards, wrapping (decorations don't wear out -keep them)clothes dig out an outfit and dress it up a bit, get a mate to do your hair.
Do you have to do secret santa?
I am not buying any new decorations, sending only charity cards.
Sorry it sounds harsh but since my LBM I've become a real pain.

immoral_angeluk

We have wrapping paper left over from last year, budget so much per person for a gift and card, and stick to it.

kathyd_2

Whatever you decide to save each month its worth opening a separate bank/building society account and set up a standing order so the money goes straight into it. This is what I do and TBH there have been occasions I would have spent the money rather than save it, but for that standing order. [mine goes into a building society savings account which means its a bit harder to access than a bank account with all those tempting ATM machines]

Hello

Blimey, that is very thorough, well done!!

flowerofscotland

itsnotfair wrote:

If you have anything left from 2006, don't forget to get what you can in the sales. Like cards, wrapping (decorations don't wear out -keep them)clothes dig out an outfit and dress it up a bit, get a mate to do your hair.
Do you have to do secret santa?
I am not buying any new decorations, sending only charity cards.
Sorry it sounds harsh but since my LBM I've become a real pain.

Thanks for the comments. I have checked what I have left from 2005 and only needed to buy a few cards and I found some at a real bargain price being sold in aid of one of the local churches. They have been hand made by volunteers so I am saving money and helping a good cause - how cool is that?

What I am trying to do is include everything that needs expenditure at Christmas even though this year the cost will be very low (or possibly even nil) - then when I estimate last year's I can see if I have made a saving plus I can do a realistic budget for next year. Hope this makes sense.

With you all the way on not buying new decorations - just hope the lights still work.

Re Secret Santa - yes I want to do it. I actually like most of my colleagues and £10 is not much to cover the whole office. Anyway it is one of Martin's Christmas money saving suggestions And it won't actually cost me anything this year as I am "buying" my present with piggy point vouchers :j

flowerofscotland

immoral_angeluk wrote:

We have wrapping paper left over from last year, budget so much per person for a gift and card, and stick to it.

Thanks for the support.

I have always set a budget for each person (because we have a very large family). But this year I have tried to buy smarter - thanks to this site. For example I bought 9 presents from M&S online on their 3 for 2 offers. The old me would have worked on the after discount price - this year I have taken the discount for myself

Oh and I went via the Pigsback link so will get piggy points and paid with my M&S credit card (paid off in full each month) so will get vouchers as well (which I plan to use in the January sales to get some bargains for next Christmas).

Froglette

I have a savings fund for Christmas which I do via work (the money comes out of my salary each month and then is paid out in Nov with interest). I then set a budget for each persons presents remembering to put something aside for wrapping, cards and decs. I hadn't thought of planning for all the social side of Christmas from this budget too. But if I add a few £ more each month in this coming year, I will be able to do this next year too.

I will also do my Christmas spending on my M&S card and then pay it off to get all those lovely points.