twitter facebook stumble upon rss

Show Black Friday Who's Boss

sign up for the momlogic newsletter Tweet This

Momlogic's financial expert Danielle Hoston: When it comes to holiday shopping, we all tend to break the budget in the name of celebrating the holidays. We want to look our best, enjoy the time we are spending with our friends and family, and get everything that our children and significant other's hearts desire. This year, arm yourself with a quick holiday budget before Black Friday and Cyber Monday rear their ugly heads and your new year brings credit card bills with higher balances.

woman christmas shopping

As a quick rule of thumb, you shouldn't spend more than 1.5% of your annual income on holiday gifts. And you should never spend more on your credit cards than you can completely pay off in one or two months. Also, when doing your budget, don't forget to account for the commonly forgotten items ... i.e new holiday party outfits, new home decorations, extra food for potlucks and family dinners, and -- of course -- "stocking stuffers."

Once you've completed your budget, take a hard look at where you can trim some of the extra dollars. Any experienced shopper knows to "shop early and online" during the holidays so take advantage of free shipping offers and the ability to price check online.

Here are a few more suggestions for saving holiday cash:

1. Implement "Secret Santa" at more than just your workplace. Plan a "Secret Santa" event for every place that you anticipate having a gift exchange. You can use this Thanksgiving holiday as an opportunity to draw names and come up with price limits for this year's holiday gifts.

2. Don't underestimate the value of a hand-written note or a simple bottle of wine. Instead of buying that sweater or wallet that could potentially get returned the following week, take the time to write a note or card or tie a simple bow on a bottle of moderately-priced wine. This will help eliminate those last-minute budget busters for people that you didn't anticipate a gift exchange with.

3. Take your kids on a pre-holiday shopping excursion and give them a budget. Here is your opportunity to find out what their biggest holiday wish is and simultaneously teach them the value of the things that they desire.

4. Consider hand-made, original gifts. You don't have to be Suzie Homemaker to make your friends and family a great gift. Consider a photo album with meaningful pictures -- digital scanning and high-quality color copies have made this easy and very cost-effective.

5. Instead of buying new clothes for holiday parties, consider having a "Holiday Clothing Swap." This is a great way to get a new party outfit, have fun with your friends, and also clean out your closet. You can't lose!

Finally ... let this holiday season be about the time you share with your loved ones and not the money you spend. Anybody who has ever lost a loved one will tell you that the presence of that person is the holiday present that they miss the most. This year, save your money and hug your family. Your credit card balances will thank you for it.


Click here for the latest Black Friday Updates.


next: National Dog Show Winner
26 comments so far | Post a comment now
Teej November 28, 2008, 4:44 AM

This is GREAT advice Danielle.

But what to do if the economy essentially CANCELS Christmas for you altogether?!?!??!

Jerwayne November 28, 2008, 10:22 AM

That budgeting comment is so dead on. Last year I kept seeing gifts that I thought people would like and kept buying. Ended up dropping around 3 Gs. So this year I’m setting aside a set amount and not going over that amount.

jan November 28, 2008, 5:26 PM

Great Advice to Have in Your Wallet!!

Brandon Carlton November 29, 2008, 12:45 AM

Great advice!!Ill make sure to show my girlfriend this as well.

Trish A. December 1, 2008, 3:55 PM

Great advice! It’s especially true of the handmade, heartfelt gifts. Those are usually the least expensive, but hold the greatest value. Plus, they are one of a kind!

payday loan December 10, 2010, 3:20 AM

Hi I stumbled upon this site in error as i was searching yahoo just for this issue, I’ve got to say your site is really helpful I additionally love the theme, its amazing!. I dont have that much time to read your complete post at this time but I’ve got bookmarked it and in addition decided upon your RSS feeds. We are back in a day or two. thank you for a fantastic site.

payday loan December 10, 2010, 5:33 AM

Certainly completely using your conclusions and feel that you’ve made some excellent points. Also, I like layout , design of your respective site as well as the simplicity of navigation. I’ve bookmarked your site and may return often!

payday loans online December 10, 2010, 9:00 AM

I was just browsing occasionally and also got to learn to read this post. I must say that I am in the hand of luck today or else getting this kind of excellent post to learn wouldn’t have been achievable personally, at the very least. Really appreciate your articles.

cash loans December 10, 2010, 9:04 AM

I used to be questioning occasion you ever considered altering the layout with the website? Its really correctly created; I adore what youve obtained to convey. But possibly you are able to small much more with respect to content so males could connect to it greater. Youve obtained a really total large amount of text for only finding a single or two images. Maybe you’ll be able to area against eachother greater?

online payday loans December 10, 2010, 9:31 AM

I keep following what is this great update lecture about receiving boundless online grant applications i really are already looking around for the top site for getting one. Can you advise me please, where could i receive some?

payday loan online December 13, 2010, 1:20 PM

Hello, I found your blog within a new directory of blogs. I don’t know how your blog came up, have to have been a typo. Your website looks good, have a very nice day.

pay day loan December 13, 2010, 3:26 PM

Hi I found this website by mistake while i was searching yahoo because of this issue, I need to say your internet site is really helpful I additionally love the theme, its amazing!. I dont have very much the perfect time to read your entire post right now but We have bookmarked it plus enrolled in your RSS feeds. I’ll be back in a short time. thank you for a terrific site.

no fax payday loans December 13, 2010, 3:36 PM

Excellent read, I just passed this onto a colleague who has been carrying out a little research on that. And the man actually bought me lunch because I discovered it for him smile So allow me to rephrase that: Many thanks lunch!

pay day loan December 13, 2010, 6:44 PM

Thanks a whole lot on your downright post.this is the words that sustains me on target straight through my day. I have already been searching around for this site after being known as them from your colleague and was thrilled after i could locate it after seeking while. Being a demanding blogger, i’m hopeful to remarked further ones taking initivative and contributing to the city. True planned to comment to show my appreciation on your website which is very intelligent to do, plus some writers will not accumulate acknowledgment they deserve. I’m definite i’ll return to their office all of which will send some of my girlfriends.

pay day loans December 13, 2010, 7:13 PM

To be sure completely using your conclusions and think that you’ve made some excellent points. Also, I like layout , design of your respective site along with the easy navigation. I’ve bookmarked your site all of which will return often!

same day payday loans December 14, 2010, 7:17 AM

Thanks a great deal for the downright post.here is the words that sustains me on track straight through out my day. I have already been searching around because of this site after being called them from your colleague and was thrilled after i could locate it after trying to find number of years. Being a demanding blogger, i’m hopeful to remarked further ones taking initivative and triggering the city. True desired to comment to show my appreciation for your website as it is very intelligent to try and do, plus some writers usually do not accumulate acknowledgment they deserve. I will be definite i’ll come back all of which will send some of my pals.

pay day loans December 14, 2010, 7:49 AM

Certainly completely with all your conclusions and think that you’ve made some excellent points. Also, I’m keen on design of the site along with the ease of navigation. I’ve bookmarked your site and may return often!

payday loans no credit check December 14, 2010, 9:54 AM

Many thanks for taking the time to discuss this, I’m strongly about it and love learning on this topic. Whenever possible, while you gain expertise, do you mind updating your site with extra information? It is extremely ideal for me.

cash advance loans December 14, 2010, 10:04 AM

I’ve recently started a blog, the information you provide on this website has helped me tremendously. Appreciation for all of your current time & work…

payday loans no credit check December 14, 2010, 1:05 PM

I will be really thankful to the author on this post to make this lovely and informative article live here for us. We really appreciate ur effort. Maintain the good work… .


Back to top >>
advertisement