Christmas Budget 2014

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happy2bme

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Oct 18, 2007
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I am working on my monthly budgets for 2014 and that means starting my savings for Christmas 2014.

I save a certain amount every paycheck from January to October. When the end of October comes and I am getting ready for Christmas shopping, the money is in my Christmas Club account.

I have learned to only spend the amount I have saved for the year and since I started saving like this, I have never gone over budget.

Even if you can only put away a small amount every paycheck or every month, it will add up and make a big difference once Christmas comes.

Happy Saving!!
 

sweetpumkinpye

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Apr 23, 2008
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That is a great philosophy Mel. If you don't have it, don't spend it.
I too put away a fortnightly amount, and even though I shop all year, and I may not need all I have saved it certainly is nice to have it.
This year with the left over savings, I have done a little shopping, and I will use the rest to help pay for DD 21st birthday on January 29th.
 

MrsSoup

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Oct 13, 2007
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Every year I say i'm going to do this and I never do. But this year I fully plan on doing it. I'm going to use that weekly challenge chart floating around Pinterest where you start putting in $1 the first week and then $2, etc. We never spend what we don't have either though, we don't have credit cards so everything we purchase is with money we have in our account.
 

Christmaslvr

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Oct 18, 2007
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Right now I have $30 taken from each paycheck, only $60 a month but it's better than nothing. It goes into an online account that I have a debit card with, so it's easy to pick things up as I see them. Hoping to increase that to also include buying birthday gifts...once we start paying off some debt early in the year.
 

teachermomof2

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Oct 27, 2007
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I have a decent Christmas club, but as prices increase it just doesn't go as far. I'm planning on doing the start wit 52 dollars a week plan, then a dollar less a week and you end up with 1300 at the end this year.
 

Lana

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Oct 13, 2007
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I have one Christmas Club that we take $35 from each of our pays (6) monthly and that is for taxes and at another bank.

From my pay I take out a certain amount and I have my larger Christmas Club and 3 small ones for the kids and give them a check in their stockings.

Then I try to take $20 per pay and in an envelope to have if I find gifts along the way and then $5 per pay to keep in cash and put towards groceries/baking items. Every so often I will buy a gift card to Wal-Mart or Krogers with the cash. Sometimes the cash will make it to May or June and then we need tires or etc. and it is gone.
 

jampss

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Oct 24, 2007
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Hmmmm

It would surely be nice not to charge things ....
:smilegifts:
 

aggy

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Oct 11, 2007
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I'm going to do the 52 week challenge again this year. Each pay I take whatever the amount is and put it into my savings account.
 

missjane

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Oct 13, 2007
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We have a Christmas Club at our bank where we put in $50 per month. I need to up that to at least $75. I also put money on a WalMart card periodically, but I'm challenging myself to do more this year...aiming for $15 per week. Even if it isn't spent on actual gifts, we buy the bulk of our groceries from there, so it will help with Christmas baking. I used it for Black Friday buys at WalMart.

Lana, I like your plan. You've got money tucked away all over the place. Good thinking on the $5 for food in an envelope and to put money on a Kroger card. I should do gift cards each month because this year, it was what everyone wanted. Thanks for the ideas.
 

Winged One

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Sep 2, 2008
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I am back at work today, and rolling over the gift and budget (combined) spreadsheet for 2014. I didn't over spend this year, but I spent a fair amount, and probably more than I needed to - but I didn't have to dip into the credit union account for it. So I need to reign that back in next year. And I also want to get my crafting hat back on, to keep costs down and give meaningful gifts again.

I need to increase the credit union savings amount though, as I need to build a bigger savings cushion. I do it by salary sacrifice (it's a credit union at work) so the money goes into savings before I ever get it in my hands. That works for me.
 

housewife2

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Aug 3, 2008
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started my savings for Christmas 2014. my vacation money for Disney world is separate. save save save
 

Saquilla

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May 15, 2010
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I have also started the 52 week challenge. There is a whole dollar in my tin!

It will probably get tricky towards the end, but even if I can't afford the larger weekly amounts, adding what I can will still be better than not doing anything!
 

Woman

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Oct 14, 2007
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I did the 52 week budget this year and loved it-did one for my husband and one for me-we paid for Christmas and our taxes-which was great-no end of the year bills-doing it again this year-woman



:rudolph:
 

missjane

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Oct 13, 2007
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I tried the 52 week thing last year, but couldn't follow through on it. When I was working it though, I would do week 1, then week 52, then week 2, then week 51. That way, I wasn't putting in the big bucks in the end in December when things seem tight anyway or if I could only afford a certain amount one week, I would mark off the week with that amount. The whole idea is to just put something away and the chart gives you goals to reach for. Good luck to all of you who are able to follow through. I really want to try it again this year.
 

missjane

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Oct 13, 2007
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Did you save this month?

Tomorrow is Rudy Day. Think about starting that Christmas Club account at your bank or credit union if you haven't already. Tuck away some money in an envelope or put some on a shopping card. Empty all the change from your wallet and do it at the end of each week or each day. It will all add up. Anything put away will help ease the budget at Christmas!
 

sweetpumkinpye

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Apr 23, 2008
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Luckily I had leftover Christmas club money. I am using it to pay for DD birthday.
I am starting to put $50 a fortnight away to refill the bank account.
 

sweetpumkinpye

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Now that DD birthday is over, will try and sit and figure out my budget for this year. I am thinking about cutting back in a few areas. Baking is one area, entertaining is another.
Hopefully if I keep on top off the savings and the budget,we should be right.
 

Minta

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Oct 14, 2007
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We are doing a Christmas club again this year on top of me shopping through out the year. Last year we only charged 1 gift for the kids, this year our goal is not to charge anything.

Going to combine store bought and home made gifts together for extended family to help stretch the budget more.