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Get A Step Ahead and Start Those Holiday Budgets Now!
This post was sponsored, and paid for, by SunTrust. All opinions are my own.
Year after year people feel overwhelmed by what they spend during the holidays. It’s easy to do when you’re in the holiday spirit and ready to give your loved ones anything. The key to making sure you don’t overspend during the holidays is preparing a holiday budget.
I know many of us are still basking in the glow of summer, and some of you just finished school shopping. However, this is the perfect time to plan that holiday budget. And when you start planning this far ahead, you have more time to save!
As many of you know, this year I purchased my first home… a motorhome! Since I’m planning a trip across the United States next year, I setup my own personal budget. This is a pretty big lifestyle change so I needed to make sure all my financial affairs are in order. With me planning for my journey, I still want to be able to enjoy the holidays with friends and family.
To setup my budget I’ve been able to use the SunTrust budget worksheet. I love how the worksheet splits your main budget and holiday budget and also offers a nifty gift guide section. With the main budget section I was able to determine exactly what I bring in and then see how my monthly expenses measure up, after bills. Once I knew that, I could see what was left for savings. At this point, I have to consider expenses for my current lifestyle and still fix up my motorhome for my future lifestyle. Once I had the main budget down, I could move onto creating my holiday budget. I loved how easy the gift guide made it for me to list everyone I want to buy gifts for and set my spending limits.
To help you start planning your own holiday budgets, I’d like to share a few of my tips that can help you avoid buyer’s remorse and allow you some guilt-free spending this holiday season.
3 Tips for a guilt-free spending this holiday season!
Make a holiday spending budget. Again, I know it may not be something you want to think of this early but it’s a necessity. Financial confidence and freedom can be so freeing and it’s one of the best gifts you can give yourself. The same way you would make a budget for a house, car, or vacation… is how you make a budget for your holiday spending. And don’t worry it’s not something you have to figure out on your own, with the SunTrust budget worksheet you’ll be on the right track. The SunTrust budget worksheet is very thorough, and it even provides you with instructions for how to use it. Make sure you include everything: holiday trips, parties, gifts, etc. This can only work if you’re honest with yourself.
Put Money Aside Monthly. This part can be harder for some more than others lol. The truth is when we think about the times we go out for lunch, dinner, or other miscellaneous spending, those things add up. Consider forgoing a few luxuries each week and put that money aside instead. You’ll know how much you need to save after you’ve made your budget. And hey, you may even have a bit left over if you shop sales! Stick To The Plan! The only way this plan will work is if you have the self-discipline to see it through. It’s easy to want that instant gratification or find reasons to spend our money. The key is telling yourself that saving is a necessity and not an option. I hope these tips can set you on the right track and save you some financial heartache down the road. Don’t let the idea of saving overwhelm you, try to take it one step at a time. Also, don’t forget that some of the best gifts are the ones that come from the heart.
I challenge you to get started on your SunTrust budget worksheet today!
And be sure to share this amazing tool with others 🙂
This post was sponsored, and paid for, by SunTrust. All opinions are my own.
