top of page

Holiday Budgeting: The Gift You Won't Need to Wrap

The holidays are a wonderful time for family and friends to come together, enjoy one another's company, and treat themselves for all their hard work during the year. But it's also a time when expenses can quickly add up. From traveling to see loved ones to buying gifts and decorations, the costs of the holiday season can quickly become overwhelming. One of the best ways to avoid financial stress during the holidays is to build a smart holiday budget with your family. Not only will it help you make informed spending decisions, but it can also be a great opportunity to teach your children about financial responsibility. In this blog post, we'll explore how building a holiday budget can be a family effort and provide tips for making the most of your holiday spending.

Family enjoying holiday crafts and activities

1. Plan ahead and set spending limits: The first step in building a holiday budget is talk about your priorities for the season. Don't be afraid to get the family involved here, too. Talking about what expenses are most important to you (and which you could live without) teaches healthy decision-making skills. What events and traditions are most important to you? How much can you realistically afford to spend? Set realistic spending limits for each category of holiday spending, such as gifts, travel, and food. This will help you stay on track and avoid overspending.

2. Get creative with gift-giving: One of the biggest expenses during the holidays is buying gifts for loved ones. But there are plenty of ways to show you care without spending a fortune. Consider DIY gifts, homemade treats, or even the gift of your time, like offering to babysit or cook dinner for a busy family member. Encourage your children to get involved by making their own gifts (and helping with the wrapping and delivery process!)

3. Know when a "deal" is worth it: Plenty of stores and retailers will flood your inboxes, road signs, social media feeds, and television channels with ads on their latest holiday deals. It can be tempting to spend when the cost feels lower, but it's important to remember that if you didn't need it at full price, you don't need it any more when it's on sale.

Family enjoying holiday movie

4. Find value in the experience: While unwrapping a gift is a big part of the holidays, bringing the family together to plan and make spending decisions can be a gift in the long run. It's important to demonstrate the value of financial decision-making, and also showing the best gifts aren't always unwrapped.

The holidays are a special time of year, but they can also be stressful if you're not careful with your spending. By building a holiday budget with your family, you can make informed spending decisions and prioritize what's really important. With a little creativity, technology, and teamwork, you can have a memorable holiday season without breaking the bank. Remember, building a holiday budget can also be a great opportunity to teach your children about financial responsibility and the value of experiences over things. So gather your family together and start planning your best holiday season yet! For more resources and conversation starters, head over to


bottom of page