The Winter holidays are costly in both time and money. Most people are not really aware of where they are spending and truly how much. Many people are spending beyond their budget. Most are still paying for unplanned holiday expenses well into the next year!
As a Financial Coach, I see that the holiday expenses can rob you of your plan.
Even set your whole next year into a tailspin. So how can you prevent this? Well – with a plan. Start by looking at all the items you plan to spend money on this holiday season. Then build a budget (within your means) to cover these expenses.
To help you create a plan – I have outlined the top 5 Holiday expenses you are (probably) forgetting about. Look over these expenses and add them to your holiday budget. Including these expenses will help you stay on budget and start the new year off right!
If you are looking for more help with Holiday planning and budgeting – check out my brand-new email course all about how to plan for financial peace this holiday season.
The top 5 Holiday expenses you are (probably) forgetting about from a Financial Coach:
- Decorations – Xmas tree, lights, ornaments, house decor – they all add up!
- Clothing – for holiday-themed events or for parties. A clever outfit or ugly holiday sweater can make a large dent in your holiday budget.
- Higher Utilities – Electric bill due to all the extra indoor and outdoor lights. Water and gas for all the company at your house and so on!
- Special foods (or hostess gifts) – for parties or traditions like cookies exchanges, company potlucks, friends dinner, or just special seasonal treats.
- Money for travel – even if you are not planning a big trip, you will probably be traveling this holiday season. Add in some money for extra gas, tolls, travel snacks, meals on the road.
These top 5 Holiday expenses you may be forgetting about could add $500 – $1000 to this already expensive holiday season. As a financial advisor, I must ask – How many months would it take you to pay off? How would next year feel if you didn’t have this unplanned debit? How much better about yourself would you feel if you didn’t have the guilt of “overspending” this holiday season?
Start by planning for all you can, then stay within that budget. It really is that simple! For more financial and budgeting advice sign for my mailing lists and like my Facebook Page.
