Halloween is just the beginning, the holiday season is getting ready to take off! The experts at Broussard Poché, LLP want to make sure the season doesn’t take your hard earned money with it. It’s OK to spend a little extra on the people in your life, but this financial checklist can help you keep things realistic.
- List the Upcoming Holiday Expenses
It’s a great idea to start with a family list. List out the trips you need to book (airline, gas money, etc), gifts to buy and other holiday-related expenses like new dress clothes for you and the kids. If you are hosting for the holidays don’t forget to calculate the food costs and incidentals involved in having extra guests.
- Set Aside Some Cash
Starting a savings account for the holidays is ideal. It’s something you can keep up year-round with just $20 here and there. BUT if that pre-planning escaped you this year you can still start anticipating the extra spending now. Setting aside $100 a paycheck starting now, can add up come shopping time.
- DIY But Start Now
Do-it-yourself gifts come from the heart, but the time they take means they aren’t always practical. If you start now you can avoid being rushed and supplementing with expensive add-ons.
- Shop Around
If you start shopping early, you can compare prices, look for sales and shop around. Even just getting a few items for your Christmas list on sale can have a big impact on your pocketbook. Not shopping around for the best price is like throwing money away.
- Have a number
Make a budget, a realistic one, and stick to it. The lists you make will help with this. Know how much you want to spend and look at how much you can AFFORD to spend. It’s tempting to whip out the credit cards this time of year, but avoiding new debt is a priority.
The professionals at Broussard Poché, LLP want you to have happy holidays and a Merry Christmas, but part of that means not going into the red before New Year’s Eve. If you need any guidance call our experts.