So in my last blog I challenged everyone to come up with a financial savings strategy that I could execute as a 30 day financial challenge in November.
So I chose two to try this month…I know such an over achiever.
- I am trying Ali’s suggestion from the comments, to take the equivalent amount spent on non-essential items and place in a savings jar.
- I am also going rogue and trying an idea that I did last year and putting every single five dollar bill in a savings jar.
With six days into the month I have saved $10.00 from the $5 bill exercise and nothing from the non-essential items. I think this weekend will be a great opportunity to test that non-essential item exercise…I see a few non-essential beverages in my future.
This time of year with the holiday’s approaching; it is tempting to get a little loosey goosey with the old budget and less diligent with the savings.
My primary goal with both exercises is to just reassert some savings discipline into the mix.
Speaking of the holidays, informal poll….how many of you actually create a holiday budget?
I actually become a bit excited about creating a holiday version of our budget.
I begin our budget by creating a comprehensive list of every expense associated with the holiday season. This means I have columns for everyone that we need to purchase gifts for, from care givers to the mail person.
I have a list of items for all holiday meals. I even factor in incidentals such as; holiday cards, wrapping paper and shipping costs.
My husband and I then sit down and figure out exactly what we have to work with from a budget perspective and distribute it across all of our listed items.
Not everything or every person makes the final cut…
But at least my husband and I start the season off on the same page with level set expectations. I have found this exercise makes a huge difference in how stressed out I am over the holidays.
If I know that somebody is not going to receive a purchased gift, I try to find a creative way to include them with a homemade something or other.
If we need to be a bit less festive for our holiday meal celebrations I know to enlist the help of our invited guests to bring the beverages.
It basically comes down to planning.
Once I have the financial blue print for the season, I can bob and weave more effectively.
I would love to hear about your budgeting tricks for the holiday season. I would also like to know who is joining my November 30 day financial challenge.