- Prioritize your holiday plans now! Make a list of all the things you need or would like to do between now and the new year. Be sure to include travel, gifts, dinners and parties. Rank your holiday wish list and be sure your budget reflects your plans! For instance, you may decide to spend a little less on gifting so you can travel to see family or friends for Thanksgiving.
2. Make a budget and check it twice. Now that your holiday priorities are in order you can budget appropriately for the coming season. Before you head out the door to grab a few groceries or to snag some good deals check that budget!! Confirm that what you’re buying fits the budget so you can shop with confidence.
3. Keep things simple. Remember Thanksgiving is all about: being thankful. And if we’re honest with ourselves, we all know that people are what really make our lives rich. With this is mind, think about simplifying these two things so you have more time to spend with the people you love:
Decorations. Here is where you can get creative! Spend time with your kiddos making hand print turkeys and search the backyard for pinecones. Or stretch a roll of butcher paper across the table with prompts like “I’m thankful for . . .” Place a bunch of markers or crayons on the table for your guests to grab.
Dinner. Forgo the expensive dinnerware and serving dishes and grab some disposables. Its cost effective and makes for easy cleanup! Focus on a few key dishes like the turkey or a ham, two of your favorite sides and one dessert, but leave the rest of your ideas for another time. And don’t forget to check for coupons!
- Accept invitations from others. While it’s fun to host, it’s just as fun to be a guest. Show your gratitude by offering to bring a dish and helping with cleanup after dinner. You’ll save money and make a friend for life!
5. Volunteer your time. This may be too far for some, but skipping your own Thanksgiving dinner to provide one for someone else in need will fill your heart and save you money. Contact a local soup kitchen or homeless shelter and ask how you can be of service. You might just find that this is your new favorite tradition. Plus, you can invite your friends and family along!
6. Be a smart shopper. Surveys suggest the average person will drop $743 between Black Friday and Cyber Monday. We’re okay with this number as long as you’re getting good deals, buying stuff you already planned to buy, and keeping all of your spending in line with your budget. Do your homework on sales and make as shopping list before heading to the stores.
7. Give yourself margin. We all enjoy the holidays more when they’re not crammed with activities and stress! Less really does give us more. As you approach the start of this busy season look for opportunities to slow down. Build space into your day and into your budget. Allow yourself a little breathing room so you have the chance to take in and appreciate the joy that’s happening around you.
This commentary was originally posted AUGUST 26, 2021 by Ramsey Solutions.
Sourced from: https://www.ramseysolutions.com/budgeting/budget-thanksgiving-spending
**Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.