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Holiday Budgeting 101: A Stress Free Guide

The weather is getting cooler, the sun is setting earlier, and the holidays are here. We know that you are gearing up to make this holiday season the best one yet for everyone on your list, and we are here to help you make this possible. Whether you are gifting for two people or ten, having a solid budget for your holiday expenses is a great way to help you keep your finances in line while maximizing you and your family’s/friends’ holiday experience. To help you get started with your finance-friendly holiday gifting plans, here is a guide to developing your stress-free holiday budget—

Take Inventory of Your Finances

Before you can make your holiday budget, you must first take inventory of your finances to determine how much you can set aside for your holiday expenses. Consider your income, any holiday bonuses you may have received, your house/car payments, and any other necessary expenses that you have. Once you have all of this laid out, you can start to calculate what you have available to spend on your holiday gifting endeavors. With this set amount, you won’t have to worry about not meeting your necessary payments.

Set Amounts For Each Person on Your List

Once you have worked out what you have available for your holiday expenses, it is time to divide it up for each person on your list. Consider what each person is wishing for and what you might want to give them, and using this information, set specific amounts for everyone on your list. One suggestion is to set this up in a spreadsheet or document that you can easily reference, and update each line with how much you have spent as you spend it. This way, you can keep track of everything you spend on each person and stay within your bounds.

Search for the Best Deals

Deals, discounts, and sales are happening all the time. If you know that you are looking for specific items or experiences for people on your list, it is always a good idea to look for a discount or any safe deal you can find. This can help you not only maintain your budget, but if you are able to find everything you are looking for using discounts and deals, you may be able to fit in more gifts while staying on target with your finances. Any time you find a sale, discount, or deal on gifts you are looking for this holiday season, make sure to note it.

Avoid Impulse Buys

We know how difficult it can be to avoid impulsively buying gifts for those you love. You may see something that would be absolutely perfect for them, but if you are already at your limits financially, this could put you over budget and cause later problems in your financial plan. Avoiding impulse purchases is hard, but it is crucial to keeping yourself on budget. Prioritize the purchases you can make while staying on budget, and you will have a stress-free gift buying experience this holiday season.


The holiday season is one of the most joyous times of the year, and making sure that you stay within your financial range for gifting and other holiday expenses can make it even more enjoyable. Create your holiday budget, stick to it, and spend time with those you love instead of worrying about your finances this holiday season. Whether you haven’t yet started your holiday gifting plans or you are already halfway through, it is never too late to create a financial plan. If you find that you need some help creating your budget, feel free to contact our impeccable banking experts for advice. We are here to help you and everyone on your list have the best holiday season yet. Member FDIC and Equal Housing Lender