1. Identify the people you’re shopping for:
Draw up a list of the people you will buy gifts for and the possible items you might want to buy for them. This helps create a clear plan to prevent anyone significant from being overlooked.
2. Determine how much you can afford:
Calculate all your prospective expenses and determine what you can afford to spend on gifts without affecting your other desired expenditures and holiday budget.
3. Allocate budget:
Divide the amount you are spending on gifts between the people on your list. Total up the expected spending for all the gifts and decide how much you are going to spend on each individual.
4. Leave room for overspending:
Some items may not be available in the colour, size of your choice or anything else may happen which may require you to change your gift. That gift may also be more expensive than the original and if you overspend on a gift, just adjust the spending towards another gift to make up for it.
5. Track your spending:
Always remember to be constantly aware of your financial status throughout the festive season: track all your expenses to prevent running out of money.
