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RE: Do you have a budget for Holiday Spending? - 11/7/2008 1:44:03 PM
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IMA_CHRISTIAN
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a news article -I didn't save but just noticed - said that peopel are still in debt from last year's christmas shopping?
I can hardly beleive it... do you think that is really happening??
that is crazy!!!!
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RE: Do you have a budget for Holiday Spending? - 11/13/2008 3:41:56 PM
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Simway
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Yes I do believe it. That is why we don't use Credit Cards for Holiday shopping. Too easy to over spend, I know it doesn't look like much a little here and a little there. Then comes the bill and a whopping balance to go with it. Many people pay on the balance only what they can afford, which isn't much, the interest keeps adding up month in and month out. We do use cards for other things, but we always have the money set aside to pay the balance in full. This is one way to have and keep good credit. Simway
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RE: Do you have a budget for Holiday Spending? - 11/20/2008 4:06:47 PM
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SonRiseChristian
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Hi, I'm fairly new to these forums but for Christmas savings this is that I do. I am a work at home mom and I do customer service work on the phone. It's my own business so I pretty much get to decide how and what I do with my money. The people who pay me for what I do have a way that we can ask them to hold back a certain percentage of money for GST (that is a Canadian tax) and for income tax. I get them to hold back a little extra above the regular percentage for Christmas and around the beginning of November I withdraw the money and go Christmas shopping! I save for the taxes and Christmas gifts all year long so the amounts will be substantial. It is difficult not to want to dip into these savings but if you try really hard it does work out for the better in the end.
Hope this helps in some way!
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AliciaBowyer
www.sonrisechristian.com
www.justmypoint.com
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RE: Do you have a budget for Holiday Spending? - 11/20/2008 11:30:09 PM
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shaneencl
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I do have as sometimes if you don't have a set budget, you might spend more than what you have expected. It's a holiday and we are trying to get relaxed and enjoy at the same time so we tend to spend more.
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Shaneen Clarke
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RE: Do you have a budget for Holiday Spending? - 11/23/2008 9:27:24 PM
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sudden
Posts: 167
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From: Toronto
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We do an annual household budget. Gifts for Christmas are included in the gift budget - all gifts for the entire year are purchased from this Christmas and otherwise. We contribute to the gift budget on a bi-weekly basis.
We do not travel every year at Christmas but when we do we would probably take an extra $2K out of our vacation budget to allow for our air fare, entertaining family once we have reached our destination and so forth. We also contribute to our vacation budget a set amount every 2 weeks. This amount varies from year to year depending upon where we would like to go for vacation, how many times we would like to go away and what we would like to do. We contribute to our vacation budget on a bi-weekly basis.l
We don't have a special budget for entertaining but we do spend perhaps an extra $200 or so on folks coming over. This is usually handled just through the "food" portion of our budget.
All in all holidays, gifts, vacations, entertaining....all the non-essentials are paid for prior to enjoying them. If there is no money, there is no holiday, gift, vacation etc.
Sudden
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RE: Do you have a budget for Holiday Spending? - 11/28/2008 9:29:26 PM
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reach
Posts: 1362
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Well I usually charge on my card and pay myself back, but this year I don't want to over spend, so I put cash in an envelope. :) When I am done, I have an extra envelope for the extra money so I can use it toward misc stuff that comes up. I am doing some pics from my wedding last year and giving to people, so I have to buy albums for that and then pay to print the pics. So that will cost some money. But that will be as I can project. I am not doing Christmas dinner this year or doing a party at my house, as we did a big b-day party for my husband on our b-day.
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RE: Do you have a budget for Holiday Spending? - 12/7/2008 2:39:08 PM
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CherishedbyGod
Posts: 2274
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Yes........ZERO...... 
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~I would love for you to come and learn about Jesus of Nazareth with me in the Writer's Roundtable Folder~
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RE: Do you have a budget for Holiday Spending? - 12/11/2008 3:08:45 AM
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reach
Posts: 1362
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The envelopes are totally helping me this year! When the money is gone, it is gone!
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RE: Do you have a budget for Holiday Spending? - 12/11/2008 2:06:17 PM
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brandynorris
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quote:
ORIGINAL: Row1
quote:
No budget here, but I'd like to have one. Some good ideas here to help us set one up.
getting a little off-topic BUT:
we did the dave ramsey course. his advice is: you know Christmas is coming. It is at the same time every year. So, don't be surprised and unprepared, and end up spending on credit cards, and with no plan.
INSTEAD: set up a monthly budget. Include EVERYTHING you need to spend money on. Monthly, you have rent, food, gas, pocket money, etc. Annually you have Christmas, annual car registration and inspection, birthdays, back-to-school clothes, etc.
Just put these things in your budget. Just write it on paper. For the annual expenses, just divide by 12 (months) and put that much in the fund each month.
Dave Ramsey style is the "zero budget." You have every expense in budget. Subtract from your monthly income. Whatever is left over gets put in its own budget entry, either "relieve the debt" fund or wealth-building fund. [once you have gotten out of debt, start saving and investing.] So, EVERY dollar has a category, has a purpose, and at the bottom of the budget, the money "left over" is zero. It is all accounted for. So, it is called the zero budget.
This works really well for us. When a new budget challenge comes up, my wife and I just look over our budget and decide how we are gonna handle it. We have been doing this for almost 2 years, and have not been having any money arguments or fights for 2 years. Plus, we have paid off a bunch of debt, and bought 2 new/used cars without resorting to credit cards or financing, have gotten my wife to be a stay-at-home mom for the 3 kids, and we just pd cash for the bills we have from the birth of the 3rd kid in September.
I am tellin ya - you gotta steer each dollar to where it needs to go, or you will just be like we were before we started working this budget: frustrated and broke.
dave ramsey's saying is: (basically) "a budget with a name on each and every dollar each month, before the month begins."
I have a question and was wondering if you could help me. You mention Dave Ramsey in this post. Are you guys currently on his budget plan that he sells online called Total Money Makeover? Im interested in this because me and my husband fight all the time about bills and we are always broke. I was never taught how to budget money and neither was my husband. We both get so frustrated because we are currently in the process of losing our house and everything. We have 2 kids and the way things are going all i wanna do is cry. We have stopped all spending when it comes to eating out and so forth and have been doing better since then, but we need help. Could you recommend a book or a program that would teach us how to manage our finances and budget. Thank you guys!
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RE: Do you have a budget for Holiday Spending? - 12/14/2008 8:05:23 PM
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Consecrated2God
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JenniferJohnson,
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