Setting a Budget for Holiday Gifts {Free Printable}

Christmas is coming and it’s exciting to think about all the great times to be had this holiday season.

But that excitement can turn to shock and disappointment when you get the credit card bill come January and it’s a lot higher than you thought.

You can’t believe you’ve spent that much and now it’s going to take until summer to pay it off.

Don’t let this year festive atmosphere turn into a new year credit card nightmare, instead set a budget now for your Christmas spending.

That way you’ll only have pleasant memories of this past holiday that don’t linger into a nightmare.

But maybe you’re not good at budgeting. Maybe budgeting in your mind feels like it will stifle the joy and cheer you can spread. But really it can help you be more intentional with your holiday purchases.

Below you’ll find how to budget for gifts, with a free printable and some ideas to reduce your gift spending without feeling like a scrooge.

How to Budget for Gifts

The word budget doesn’t really bring up thoughts of the holidays, does it? But when you set a budget you can give gifts without being in debt for months to come. Let’s see how easy it is to set up a holiday gift budget.

First, you will want to write down each person you will be purchasing a gift for, even if it’s just a small gift.

Second, you’ll want to set a maximum amount you want to spend on that gift.

Finally, jot down a few ideas of gifts you have in mind for that person. Once you have a dollar amount set and you have some ideas for the gift you’d like to give, you can be on the lookout for a good buy on that item.

You can use this free gift budget printable to track your gifts enter your email below and I’ll send it right out to you.

Or get the full printable holiday planner plus more planning page.

Make Homemade Gifts

When your budget is really tight you might want to consider gifts you make instead of purchasing them at the store. Here are a few ideas to get you started.

Handmade note cards from the kids to grandparents can be a great gift and your kids could really enjoy making them.

Many grandparents already have everything they need. Something consumable like handmade note cards can be inexpensive to make and when the grandkids make them they are sure to be a favorite gift.

Gifts of food mixes or homemade candies can be a great gift too. You can find 31 different candies and cookies to make to give as gifts or make a homemade cocoa mix to give.

A gift of your time, such as babysitting for a family member or friend who maybe can’t afford a sitter can be worth more than any gift purchased.

Need more ideas check out these 10 simple and easy homemade gifts anyone can make.

Reduce your Gift List

If your budget just doesn’t allow you to give a gift to everyone on your list, consider purchasing gifts for the just the kids or giving a family gift instead of individual gifts.

You can also exchange names. Maybe the adults can exchange names and set a spending limit on how much to spend. Instead of purchasing a gift for each person in the family, each person only gives to one other person.

It helps to keep spending down but everyone gets a nice gift too.

Or consider having a no gifts Christmas for the adults and get gifts for the kids only.

Be True to Your Budget

While it’s nice to give a great gift to everyone on your list, it’s more important that you stay within your budget and not overspend.

While it’s nice to give a great gift to everyone on your list, it’s more important that you stay within your budget and not overspend.

You don’t want to come out of the holidays with a debt you will be paying for until March or later.
A well thought out gift doesn’t have to be expensive to touch someone’s heart.

A phone call or a note in a Christmas card can brighten someone’s day without costing much at all.

The holidays should be more about enjoying time with friends and family, instead of stressing about shopping and gifts.

Stay Out of Debt this Holiday Season

Make a budget and stick to it.

Reduce your gift list and think about making homemade gifts instead of purchasing them.

Reduce your gift list with name exchanges or kids only gift giving this year.

And finally, if you don’t have the money to spend on gifts, spend time with family and friends it’s the most important gift you can gift, give your time and love instead.

Do you set a gift budget for the holidays each year?

More Holiday Tips…

Plan your holiday meals with free holiday menu planner sheet.
5 ways to Simplify Your Holiday Meal
Tips for Less Stress This Holiday Season

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