Holidays are known as the time of giving, which often leads to much of that being spending. Here are some simple ways to keep your holiday expenses on a budget.

1. Make a List, Check it Twice

Start by mapping out the different categories of your expected holiday expenses beyond just gift giving. This could be cards, wrapping materials, postage, travel, and charitable donations. Often times when creating a budget its easy to only consider the big items like gift giving and you are left wondering how you went over budget for the season. It’s easy to lose track of your spending when you don’t account for all of your expenses, but by having a list of categories that you will be spending on helps prevent that.

2. Decide on Your Spending Limit

Determine how much you have available to cover holiday expenses this season. When you are considering this amount it’s best to only account for money that you have, to avoid creating debt.

3. Assign Money to Each Category

Divide your budget according to the different spending categories you’ll have this holiday season. By deciding in advance how much you have available to spend on each item, you can quickly narrow down ideas on what to buy before you start shopping.

4. Make Your Shopping List

When creating your shopping list, it’s good to give yourself a couple options within your price range. By having a list prepared of your potential purchases, you can keep an eye our for price drops and take advantage of holiday sales.

5. Keep Track of Your Spending Along the Way

Don’t stop at creating your budget, but track how much you’ve spent so that you can adjust as you go. Maybe that must-have item of the season went on sale at just the right time and now you have a bit more to put towards something else on your list.

Bonus Tip!

Mobile Banking is an excellent way to keep track of your spending. Being able to view account balances, pending deposits and transactions lets you know exactly where you are with your finances. With the First Heritage Mobile App you can search your transaction history, easily transfer funds between accounts and even set up push notifications for deposit alerts.

Click here to learn more about Mobile Banking with First Heritage.

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Sources: Mentalfloss.com, thebalance.com

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