Holidays and birthdays are challenging times for trying to save money. Of course, we want to make our loved ones feel the most special. Here are some tips on budgeting around special events.
Holiday Savings:
Around certain holidays there are some pretty good deals going around. When trying to get a present at a lower cost, always see what holidays are around the corner. For example, when shopping for Christmas, you may want to start looking at buying gifts around Black Friday. Or you may need a present for someone’s birthday in October; Look for something nice in September around Labor Day. This could give you access to buying a nice gift while saving some money.
Budgeting:
Budgeting your spending on gifts is another great way to manage your spending. Adding special events to the budget can help save money for special occasions, making the seasons of giving more affordable. Personally, I like to add to an emergency fund each month. This is for anything from my car breaking down to getting my family’s birthday presents. Another way to do this is by having an account for gift savings. You could put 5 percent of your paycheck into this account. Then after you save, you have to set a limit on gifts. Set an amount and try to stay under that chosen number. Also, remember that most people are understanding. We are college students and only have a little pocket change to spare. Even going the homemade route can be a great option for gift giving, like cooking or DIYs.
About the Author
Abbie Bernelis – Student Writer – Spring 2023
