Friday, October 30, 2009
Budgeting for Christmas
Our house has been full of sick kiddos and a sick momma this week. Needless to say, not much can be accomplished when mom is under the weather too. However, Christmas has been on our minds. I got a few items earlier this summer for the parents so I don't think I will be spending the full amount I have budgeted for them.
Here is a run down of our budget for our family.
Parents $50 X 3 = $150
brother 2 =35
1 niece= $25.00
Cushion of $5.00
We might do some Christmas shopping next week. I have a $10.00 off $100.00 purchase from ToysRus. My two little ones have requested items that are around 50 a piece. Our youngest wants a Fisherprice Castle and our 3rd son wants some giant star wars thing that has wheels. We usually buy our kids just one nice big item and then fill in with 2-3 small items. These would be their one big gift. I am afraid that if we wait too long the items will be sold out. So I might do that next week when they are both 20% off plus use the coupon. We will see how the numbers play out when we do bills before I decide. I am a person who likes to get her Christmas shopping done early and in stages.
Our older children are very involved in Martial Arts. This year they are requesting quite a few things from a Martial Arts magazine they get in their class. Things like gloves, kicking bags, staffs, etc. However, my sons Sifu (teacher) said the magazine offers a discount on Black Friday. So I may be shopping that day online for them.
I am thinking we will save for our emergency fund and fund Christmas by splitting our overages in half until our Christmas fund hits $750. It could work like this...lets say I have 300 left over after bills and expenses. I will put $150 in our savings and $150 in our Christmas envelope. I will write on the Christmas envelope $150. If there are items I purchase during the next week or so for Christmas I will pull it out of the envelope. However, I will stop putting money in that envelope once the numbers written on it have reached 750..not when it is necessarily holding $750. That way I can be shopping for the sales and best deals for the kids. Last year I waited till I had it all saved and found myself scrambling to get a hold of the one or two special things they really wanted. Since my kids don't get a ton of toys I like them to it least get one or two they really wanted.
So what about you?? Are you planning your Christmas list yet? How did you budget for it? Do I look to be spending too much or too little in your opinion?