5 Holiday Expenses to Start Budgeting For Now – Payment 1 Financial

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5 Holiday Expenses to Start Budgeting For Now

August 30, 2017

Do you make a holiday budget? If not, you should consider using an online holiday budgeting tool to help you plan out your expenses. And what about after the holidays? It’s time to start thinking about how that will affect your budgeting in the months following. Here are five holiday expenses to start budgeting for now:

  1. The Parties

Oh man, the parties. You’ve got the annual Halloween shindig. You’ve got the Thanksgiving dinner. You’ve got all those Christmas parties. Prepare your budget—and your dance moves—accordingly.

  1. The Food

Turkeys aren’t cheap. Neither is that beef tenderloin you like to cook at Christmas. And what about that 900-ounce grab bag of Snickers you put outside your front door on Halloween?

  1. The Gifts

This one’s obvious, right? Of course you need gifts. But how much money have you already put aside for those gifts? Christmas inches closer every day, and you promised Junior he’d have that deluxe Thomas train set this year.

  1. The Family

For a lot of people, the holidays mean one thing: family. It’s Uncle Earl and Cousin Joe and Aunt Dot, who always ask you for a loan. Problem is, you’re trying to get out of debt and simply can’t swing it. Prepare to say no to the family moochers now.

  1. The Travel

If you’re flying but haven’t yet booked your tickets, do it now or it’s going to cost you. If you’re driving, start thinking about what you’ll need to make it happen, like gas and snacks for the road.

Not sure how much gas money you need? Divide the mileage to your destination by your car’s MPG. Once you have that number, multiply it by the current cost of gas per gallon, and that’s your gas budget! Sure, the price of gas may change, but that number should give you a good estimate.

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