Holiday On A Budget

   Our commitment to save $10K in one calendar year is down to the wire. We have saved about $7,100 since January 1, 2012. We have only 2 months to get the remaining $2,900 into the savings account. How will we do it with the holiday season at our doorstep?

   Limiting Gift Giving - We simply cannot afford to give everyone in our family and all our friends and coworkers a $25 gift. It's not happening. Here are a few ideas: Labor of Love coupons - Complete deep cleaning for their house including dusting, windows, organization, laundry, etc. A day of serious yard work - hedges, weed pulling, tree trimming, mowing. Free babysitting. Cook dinner for a whole family. Get creative! Make your gifts - if you have a talent like jewelry making, crafts, baking, use it. Bake bread, cookies, fudge, anything edible. Pinterest and other websites have thousands of ideas for making gifts using inexpensive supplies. For years I've been making things out of wine corks as gifts. Pictured above: this pattern works great for cork boards, hot pads and coasters. I've also made wreaths, reindeer and other holiday things. For kids - I found this children gift giving rule and I think it's perfect. Kids don't need 50 gifts under the tree. It also doesn't help them appreciate what they have. Try this: 1 thing they want, 1 thing they need, 1 thing to wear, 1 thing to read.


You Do Not Want a Grocery
Bill This High!



   Hosting Dinner - For Thanksgiving or Christmas, the grocery bill can kill you. Appetizer/finger foods, turkey or ham (and some families do multiple turkeys, like us), side items, desserts, wine and other drinks. One household should not have to pay for everything! Suggest a potluck dinner to your family. The hosting house provides the main dish and each person or couple can contribute one or two items. This also helps incorporate other family traditions and cooking styles into your holiday. If you do have to foot the bill, try making your grocery list now and pick up a few items every week to spread out the spending. Look for things on sale! 

   Mailing - Christmas cards are really fun and a good way to share pictures and updates with your family. With the internet and social media, there are lots of ways to do that without mailing everyone an envelope. Consider an e-card that you can create online. Send an e-letter about your family news via email and attach a couple of photos. Snail mailing Christmas cards can cost you $25+ depending on the size of your family and friend circle. If you need to mail packages to multiple family members that live in the same city, consider bundling the gifts in one flat rate box with instructions. My mom's side of the family lives in Statesboro, Georgia in 3 seperate households. We put everything in one box with nametags on the gifts and it saves us a ton so we don't have to send 3 boxes.   

      

Only 2 Months Left!

   Although tucking money away lately has been really difficult, our last credit card bill was down several hundred dollars from the previous months. So, this proves we are still being very conscious of our spending and trying not to make unnecessary purchases. With our bills paid, we have a little extra in our checking account over and above our comfort zone so I'm dumping $400 into savings. We only have 2 months left in our calendar year to get out savings account balance to $10K.

   However, holidays are around the corner which means lots of spending. Decorations, food, gifts, office secret Santa parties, printing and mailing Christmas cards, travel expenses to visit family - where does it end? Now is a good time to set some ground rules for your household to keep your budget in check. 

• Limit gift giving
• Pot luck holiday parties
• Make your own decorations
• Do you really NEED another scarf?
• Check online sources for cheap travel

See next blog entry for a holiday budget makeover!