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My Gift Giving Plan

November 10, 2014


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there's nothing wrong with being excited for Christmas and giving gifts to your loved ones, this usually translates into me spending more than I anticipated on gifts for my friends and family. That's why I made a gift giving plan.As we all know by now, the holidays are quickly approaching, and like I’ve said before, setting a budget for them is absolutely necessary to help keep your spending in check.

If you’re anything like me, you tend to get more and more excited the closer it gets to Christmas. While there’s nothing wrong with being excited for Christmas and giving gifts to your loved ones, this usually translates into me spending more than I anticipated on gifts for my friends and family. Plus, it’s inevitable that I usually forget at least one person and end up having to spend more money on gifts after I thought I was done shopping.

In order to be better prepared, and hopefully avoid any budget overages, I’ve been thinking about my gift-giving list a little more carefully and conservatively this year. Here is my list of who I’m giving to and how much I’m planning on spending.

Family:

Dad – I’ve already purchased his gifts. I don’t plan on spending any more on him this year. Total spent: about $40

Mom – I need to pick up one more thing for my mom this year. I’m not sure what, but I plan on spending no more than about $15-20 on it. Total spent (including what I still need to get): about $40

Brother – I’ve already purchased his gifts. I don’t plan on spending any more on him this year. Total spent: about $60

Grandma – I haven’t even thought about this much yet. Total (planned) spent: about $15-20

Friends:

BFF (“D” and her hubby) – I’ve already purchased her gift. I just need to finish making it! Total spent: about $30 + my time

Friend “S” (and her hubby) – I’ve already purchased her gift. I just need to finish making it too. Total spent: about $30 + my time

Other:

Boss @ PT job – We usually do a group gift and each spend $5. Total spent: $5

Cleaning Lady – Usually a candle and box of candies. Total spent: $8-10

Donation to Angel Tree for Kids – Something off their wish lists. Total spent: $20

Just in Case I Forgot Someone – Total spent: $40

TOTAL Christmas Gift Giving this Year: about $295

As Christmas approaches, I’ll keep you updated if anything in my plan changes, but I don’t anticipate many differences. I’m hoping I’ll be able to stick to my budget for the most part, especially since I’ve already purchases gifts for several people on this list!

What’s your planned gift budget for Christmas this year?

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5 responses to “My Gift Giving Plan

  1. Sounds like a good plan! I am embarrassed to admit that for years we didn’t keep track of Christmas or even budget for it. We always had a bit of an emergency fund, so we took Christmas out of there and assumed that “somehow” the fund would build up again the following year. Well, two kids later, we don’t have as much disposable income, so that fund kept going down instead of up. So now we budget monthly for Christmas and I keep meticulous track of every ornament, $5 gift card and gag gift we buy. You HAVE to or it can get out of control!

    1. I’m so glad you changed your ways. I’m still working on perfecting my system and I do occasionally make mistakes and use my EF for things I shouldn’t, but it’s getting better as I’m more aware of my financial situation now for sure!

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