Monday, May 11, 2009

Budgeting for Gifts and Holidays

Planning ahead for birthdays and holidays will save you time and money. Start thinking about gift ideas throughout the year. You can always be on the lookout for great gifts. If you see something at a really great price go ahead and snag it up and save it for later. You can start your own collection of gifts in a box or tote in your basement or closet. You may want to label it "old sheets" or something so that kids and hubby don't peak!

What I do is I make a list of everyone I will be buying birthday presents for, for the entire year. I set up a specific dollar amount per person. I also do the same for Christmas, Mother's Day, Father's Day and any other occasions I will need to get gifts for. I add all the numbers up and divide by 12. I figure this amount into my monthly budgeting expenses. If I don't spend all the alocated money for the month then I put that money into savings in the "birthday/holiday" category. That way if I have no birthdays in April, but I have 4 in May then I already have the money set aside.

How do you plan for birthdays and holidays? For more frugal tips head over to Being Frugal.


  1. Hi, I clicked on your link at Being Frugal because the title caught my attn. I'm overwhelmed by gifts I need to buy for weddings, graduation, bdays, and babies this month. This is a great idea!

  2. Good ideas. I'd like to add that since buying a card for everyone on your list can add up, I have my 8 year old daughter make a card and all of us sign it. I probably save about $50 per year when you consider that a card can cost up to $3.

  3. Great point. Cards can be so expensive and I am pretty sure most people just toss them after awhile anyway. Homemade cards are much nicer.

  4. I do that too with both gifts and cards. I have several years worth of birthday cards I got on the cheap (50c is my limit). I also have a corner of my laundry room devoted to storing gifts. I like your idea of labeling it "old sheets," lol.