Smart Millennial: How to Budget Your Money this Christmas Like A Boss

By Baxter Jacinto

The yuletide season is coming! But are our wallets ready for the onslaught of super sales and Christmas parties that are coming our way? Worry not!We’ll help you figure out how to budget your money this Christmas like a boss.

8. Figure out your actual Christmas budget

Some tend to think that the act of “budgeting” only applies when they’re broke, but that’s total bull. First off, having a lot of money at your disposal doesn’t mean you have to spend it all—only fools do that.

Second, (figuratively) slap your face and compute how much money will be coming in as your December cash flow.

Third, set a realistic and flexible budget that you won’t regret: “Realistic” meaning it won’t put you in debt the month after, and “flexible” meaning you also have a contingency budget for unforeseen expenses.

7. Make a list of Christmas parties you’ll be attending

Now get a paper and list down all the Christmas party invites or whatever celebration there is that’s going to happen this December. Here’s a quick tip: You can actually say “no”.

Think carefully which invitations you’ll be accepting, because saying “yes” also means you’ll be pitching in on those parties and it’ll most likely have a Kris Kringle as well.

6. Jot down the people you’ll be giving gifts to

Who are the people you’re planning to give gifts to? List them all down—every single one of them.

5. Set a budget for each person

Now look at the names of the people you’ll be giving gifts to and set a budget for each person. Figuring this out will depend on your Christmas budget. You can tailor a budget for specific people, or you can equally divide the budget. Usually, the more important people in your life will have a higher budget.

But it’s really not about how high or low the budget you set for each person. As they say, “it’s the thought that counts”, so don’t pressure yourself into purchasing expensive things.

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