A Very Merry Christmas Budget
So, I have been actively budgeting my money since 2014, but this is the FIRST year that I fully got it together and created a Christmas category on my YNAB budget that I funded each month so that I would have a pot of money come end of November to use for all things festive.
Now, I’m definitely not a supporter of massive consumerism, buying “all the things” and making this season about presents or money. My family celebrates this season and the return to the light, and remembering the many different traditions, saints and holy figures that remind us to be generous and kind this time of year. And yes, we do have a tree and open presents.
Part of what got me more organized this year was taking the YNAB Coach training - it really fleshed out all the incredible ways that YNAB can help me gain better control of my money, reduce stress and increase peace, even though I had already been using it for many years.
I wanted to share more about how funding my Christmas budget little by little has impacted me and my experience this holiday season.
I’ll paint you a picture of the last bunch of years at Christmas time. It’s the week after Thanksgiving and people are talking about how they have gotten nearly all their shopping done. I have done zero shopping, and realize I haven’t set money aside, and now I’m trying to figure out how much money I can pull from other categories on my budget to scrape together some money to buy stuff for the kids (not really even thinking about money for decorations, holiday meals, ingredients for cookie baking and sharing, etc). OR I would just GUESS what I could afford, buy the gifts and cross my fingers that I can find a way to fund it, or end up creating some new credit card debt. This has felt stressful and rather unmerry.
This year I started saving for the Christmas pot in July, and when the end of November rolled around, I was still totally disorganized in terms of WHAT I was going to get people (can’t help ya there), but it felt so FUN to start shopping for not only presents, but also stocking stuffers, some inspirational books for friends, a memorable meal, and maybe even some fancy wrapping paper I have my eye on. I knew exactly what amount was in my “Christmas giving” pot, and instead of crossing my fingers and winging it, I could see how much I had left as I went. I had clarity, which is priceless.
The truth is that I probably will end up spending about the same amount of money that I would have (maybe slightly more since I padded the budget a bit) but the psychological and emotional experience has been completely different. I gave my money a job, and didn’t have to take money from other pots to make Christmas happen. My life, like many peoples’, is pretty stressful. If I can utilize my YNAB budget to build in more ease and peace, so can you, and it is so worth it.
I asked some friends and clients what their approach to Christmas budgeting and spending has been, and I’m sharing some of their words below in case they are relatable! If you want to book a free money triage call with me you can do that here. I offer monthly coaching packages to help you get on the track towards peace and clarity with your money and can share more on your call if you’re interested.
———————————————————————-
“We have a general gifts budget but had a lot of October and November birthdays so what we hoped would be present for Christmas was wishful thinking. Definitely will make a more specific budget for 2023. I definitely think I appreciate a “less is more” approach to this holiday but it would definitely feel more enjoyable to have more budgeted for the people who matter most to us or things that come up last minute!” - N
———————————————————————-
“I'm usually a budgeted in every other aspect but my partner gets a large bonus from work every December. So we just buy want we want to get for everyone and then usually do a weekend trip for ourselves. It's a nice month to not have to worry about money for a twelfth of the year. And then we put the rest in savings that we don't spend. Now lemme say, if he didn't get the bonus, every body be gettin homemade gifts” - L
———————————————————————-
“Haha I have no plan or budget ever. I’d feel like I would not follow the budget”
I asked this follow up question : How do you decide how much or little to spend? Wing it and deal if it’s more than you have? (Zero judgement I’m trying to get a variety of answers so I like yours :)!!!!)
“Wing it! Although I guess I only buy for one sibling ; we set a limit but I don’t pay attention. I think I go more on items than cost. I do give my parents $100 to spend on both of them so they go buy whatever they need. I think if I had more than 5 people to buy for I might make more of a budget.” - A
———————————————————————-
There is no one right way to approach money or budgeting, but if your system (or lack thereof) is NOT working, and perhaps is feeling stressful or overwhelming, I would encourage you to explore the world of YNAB, and consider hiring me for 1 on 1 support if you need more along the path. Book a free 20 minute call with me here.