I often get asked about our Christmas budget. Do we budget for Christmas? How much do we set aside? Do we only budget for gifts or do we include other holiday related items as well? So without further ado, here is our 2016 budget breakdown for Christmas.
How much do we budget?
This year we budgeted $1,000. Each month we set aside between $50-$100. We started saving for Christmas in January and finished up the beginning of November. This way we are able to take advantage of Black Friday and Cyber Monday deals. Also by setting aside money monthly we can pick up gifts throughout the year if something goes on sale.
What does our budget include?
Our budget includes gifts for our friends and family, gifts that we give each other, our stockings, baking supplies, holiday entertainment, decor, wrapping supplies, cards, stamps and mailing supplies.
Breakdown of costs
$450 Gifts for family and friends.
$200 Colby and I each spent $100 on the other person for their gift. This year we decided not to do stockings so the $200 strictly went to gifts only.
$100 Entertainment. This money was spent on alcohol, eating out, and holiday events.
$50 Baking Supplies. I like to keep my baking supply budget separate from my grocery money. This is the one time of the year that I buy specialty gluten free flours and gluten free products for my baking that I normally don’t.
$50 Christmas Decor. Any last minute items we may need for decorating. This year we spent the money on some new ornaments, a Christmas tree skirt, new stockings, etc.
$50 Wrapping supplies & cards. This amount was spent on tissues paper, a couple gift bags, stamps and mailing supplies.
$100 After Christmas Sales. Every year I designate about $100 for after Christmas sales. This is when I pick up wrapping paper, gift bags and decor for 50-90% off. I pack it away with our Christmas items and don’t take it out until the following year. I have easily saved hundreds of dollars by shopping this way. I also buy stocking stuffers or gifts for the following year as well.
Do you have a Christmas budget? Do you put money away monthly throughout the year? I would love to hear how you budget for Christmas and what your budget breakdown consists of.
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