Christmas budgeting

Christmas 2010 On A Budget

by Jeffrey Kosola on July 27, 2010

150 Days Until Christmas 2010

Please take a minute to look at your calendar.  That’s right, there are only 150 days left until Christmas 2010.  Are you ready?  Is your savings plan on track?  Will you make 2010 a debt free Christmas?  It’s not too late to start if you haven’t yet, but you need to start now.  Follow this simple formula to figure out how much you should be saving from each check to avoid gift givers remorse in January.

Imagine how great it would be to enjoy Christmas this year and not worry about paying for it in January.  Let me tell you, it’s an awesome feeling.  The best part about not having debt from Christmas is you are able to enjoy the gift giving process much more.  Update: here is a another Deliverawaydebt Christmas post – Christmas on a budget

Christmas Past

Last year was the first X-mas I had that didn’t leave me with a debt hangover.  I started in August to save a chunk of cash each month in order to fund the holiday.  I was able to save $100 per month until December 15th giving us a bank of $500 to spend on gifts.

We were able to shave a little bit from each budget category in order to fund the “X-mas envelope”.  It wasn’t easy, but the payoff was definitely worth it.  $500 may not sound like a lot to some, but having $500 to spend while clawing your way out of debt is wonderful.  Just remember it’s the thought that counts. If you are struggling to pay down debt, you need to educate your family that expensive gifts are not possible at this time.

Enough about my story, let’s get down to some numbers.  If you take my example and run with it, you too can save $100 per month and have $500 in December to spend.  If you have another amount you’d like to spend then follow the simple rules below.

How to Set-up a Christmas Envelope

Count the number of pay periods you will have before December 25th.  Depending on how you are paid, the periods with vary.  If you are paid weekly then you’ll have roughly 21 more paychecks before X-mas.  Take the amount you’d like to spend, we’ll use the $500 example and divide it by 21.  $500 / 21 = $24 (rounded up).  You’ll need to save $24 per paycheck to fund the Christmas envelope.

It really is that easy.  If you get paid on a different cycle then just plug in your information and you’ll get the amount of money you need to save from each pay check.

Oh Yeah, Only 122 Days Until “Black Friday”

It’s not too late to start, the year is just about half over and now is the time.  By starting now, the impact on your budget is small.  If you wait until October, the amount needed each pay check will sky rocket. Obviously when you get to the day and are bombarded by sales, the budget is going to be stretched very thin. You have the option of Quick Payday Loans from and other such companies. But the more you save, the less you have to borrow.

Having a debt free Christmas is the best Christmas gift you can give your family.

If you have any question about this solution or would like to share your experiences with Christmas and Debt, please leave a comment.  I would love to see how everyone allocates funds for Christmas.

Here are two of my previous Christmas posts, yes I’m a bit crazy about NOT charging gifts – you should be too :-)

Debt Free Christmas 2010 and Zero Debt Christmas 2010 and Need fast cash? Instant Cash Advances from can get you cash in your account now.

photo from PhotoBucket