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Budgeting for Black Friday - something to start thinking about now


25 replies to this topic

#1 budgetsRsexy  OFFLINE  

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Posted Jan 15, 2017 - 5:34 pm

I feel like an overwhelming theme for the people in my life has been that they wish they had saved more for the holidays. Some didn't start early enough so their finances took a big hit in December (or January when the credit card bills came due) and others couldn't manage to follow their budget. Personally I underestimated how many events we would attend and the cost for bringing dishes to pass and/or hostess gifts. I'm going to rework my budget now that I can review all my receipts and credit card bill.

What about you?

Do you wish you had started saving sooner? Did you run into holiday expenses you forgot to budget for? Are you going to do anything differently or does your system still work for you (in which case please share!)?

#2 tracy0504  OFFLINE  

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Posted Jan 16, 2017 - 6:48 am

I absolutely wished I was able to start saving sooner!!!!  I was just thinking of this exact topic last week...How can I begin saving now for November?!  This is not something I am use to doing because I usually make sure all the bills are paid and then take a whole paycheck and use that... I was not able to do that last year so my shopping was limited...this year I am hoping to come up with a plan that will work for me and allow me to do the holiday food and gift shopping I would like to do...



#3 riven3d  OFFLINE  

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Posted Jan 16, 2017 - 7:15 am

Every year I say, I'm going to put away some of our tax return away for BF, but something always comes up, this year I am really going to put more effort to do it, put it aside and not touch it and then hope I remember where I put it when it comes time lol



#4 jesusluvu  OFFLINE  

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Posted Jan 16, 2017 - 7:47 am

Yep, I budgeted for gifts but failed to do so for parties and hostess gifts also. This year I will have to keep that in mind. I have started putting $25 per check aside for Christmas not including other money that would be designated through out the year. I am hoping to have a surplus this year. Wishful thinking but hoping non the least. 



#5 Tara3117  OFFLINE  

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Posted Jan 17, 2017 - 7:32 am

My local bank has a Christmas Club, where I direct deposit $30 from each paycheck. They pay out in September, so I always have a quick $780 to spend right away. I have been thinking about upping that because we have so many more people to shop for every year (16 kids ages 10 and under this year with at least one on the way for next year). 

 

It was not pretty when I saw my Mastercard bill this month. Not pretty.


"If Joan of Arc could turn the tide of an entire war before her eighteenth birthday, you can get out of bed." ~ E. Jean Carroll

#6 Bopeep  OFFLINE  

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Posted Jan 17, 2017 - 8:59 am

If we hit a certain threshold, we get quarterly profit sharing checks.  I say I don't count on those, because we don't always hit the mark, but I sure count on 3rd quarter for Christmas money!  Saving is not something I am any good at, unfortunately.



#7 Kanyon71  OFFLINE  

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Posted Jan 17, 2017 - 10:55 am

I wish I had a Christmas Club account that I could pull some of my check to right away. Would make it easier.



#8 HanShotFirst  OFFLINE  

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Posted Jan 18, 2017 - 7:27 am

Yeah.  I have got to come up with a savings plan as well.  I've tried the $ out of every pay check but it seems like something always happens and I need that extra $25/30. 

My credit card bill was just ugly.   :(



#9 Tara3117  OFFLINE  

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Posted Jan 24, 2017 - 7:23 am

I wish I had a Christmas Club account that I could pull some of my check to right away. Would make it easier.

 

You probably have better luck with a local bank than a big bank. That's where mine is at least. I had to set up a statement savings club instead of a passbook because you can't direct deposit into a passbook account. It's definitely worth asking!


"If Joan of Arc could turn the tide of an entire war before her eighteenth birthday, you can get out of bed." ~ E. Jean Carroll

#10 berry1014  OFFLINE  

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Posted Jan 26, 2017 - 9:51 am

We open a Christmas club account every Nov for the following Christmas. I get paid bi weekly so I put money in either every 2 weeks or just deposit 4 to 5 payments once a month. We have been doing it this way for several years now.



#11 budgetsRsexy  OFFLINE  

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Posted Jan 31, 2017 - 2:39 pm

I'm in the process of purging a lot of items from our home and along the way have found some items that I will try to sell rather than just donate. If I'm smart I will set any earnings aside for the holidays (though going through all my possessions makes me think maybe we should cut back even further on our gift budget just so we don't bring more stuff into our home!).

#12 Kanyon71  OFFLINE  

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Posted Feb 1, 2017 - 7:15 am

I'm in the process of purging a lot of items from our home and along the way have found some items that I will try to sell rather than just donate. If I'm smart I will set any earnings aside for the holidays (though going through all my possessions makes me think maybe we should cut back even further on our gift budget just so we don't bring more stuff into our home!).

But the more you bring in the more you can sell so the more you will have for the next year lol.

 

We are doing the same, we have a donate and a sell box we are loading up.



#13 jesusluvu  OFFLINE  

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Posted Feb 10, 2017 - 8:26 am

Okay.... I have been cutting out buying lunch. Well I cut back to going out only 2 times a week and was putting that money towards Black Friday Christmas and I am already at $200.... I am starting to think I have other problems I should be addressing if I am spending that much on lunch in only 2 months . SMH 



#14 Kanyon71  OFFLINE  

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Posted Feb 10, 2017 - 10:02 am

Okay.... I have been cutting out buying lunch. Well I cut back to going out only 2 times a week and was putting that money towards Black Friday Christmas and I am already at $200.... I am starting to think I have other problems I should be addressing if I am spending that much on lunch in only 2 months . SMH 

Ya I look at what we spend going out to eat and I wince. I try to avoid the reality of that as much as possible. I have been telling my wife we need to stop eating out so much and cook more often and then we both get off work and have no desire to cook anything.



#15 jesusluvu  OFFLINE  

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Posted Feb 13, 2017 - 9:33 am

Ya I look at what we spend going out to eat and I wince. I try to avoid the reality of that as much as possible. I have been telling my wife we need to stop eating out so much and cook more often and then we both get off work and have no desire to cook anything.

Exactly!!!! Between that and the kids looking like there starving and from a 3rd world country - crying there "so hungry" I give in all the time. But I have been doing okay the last few weeks. Making quick meals with leftovers for the next day, sandwiches and the like for lunch. Not what I am accustom to but still good none the less.



#16 Kanyon71  OFFLINE  

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Posted Feb 13, 2017 - 1:24 pm

Exactly!!!! Between that and the kids looking like there starving and from a 3rd world country - crying there "so hungry" I give in all the time. But I have been doing okay the last few weeks. Making quick meals with leftovers for the next day, sandwiches and the like for lunch. Not what I am accustom to but still good none the less.

If I could just figure out how to not have a house payment things would be awesome lol.



#17 budgetsRsexy  OFFLINE  

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Posted Apr 13, 2017 - 3:25 am

Just checking in to see how everyone is doing with their budgeting plans. Are you sticking to your monthly goals or have you gotten off track? There's roughly 7 months until BF so you still have time to get back on track!

#18 Kanyon71  OFFLINE  

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Posted Apr 13, 2017 - 6:15 am

We have been doing eh on our goals. We both have some in our savings account and are trying not to touch that. Something always seems to come up (unexpected bill or trip or some such thing) which stops from putting as much away as we want. :) Story of all our lives probably lol



#19 HanShotFirst  OFFLINE  

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Posted Apr 13, 2017 - 6:50 am

7 months!!  ARGH!   Can't even get started with saving.  I keep having unplanned/unexpected bills to contend with.  Just paid a whopper of a repair bill for my A/C so back to square one I go.  Sometimes being a homeowner is more trouble than it's worth.   :eek: 



#20 riven3d  OFFLINE  

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Posted Apr 13, 2017 - 12:43 pm

We put $400 of our taxes aside nothing else saved yet and hoping we don't need it

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#21 jesusluvu  OFFLINE  

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Posted Apr 17, 2017 - 7:13 am

Not fully where I want to be but still moving forward. I am just like everyone else. Things come up and demand the money saved, but still have more now than I did this time last year so I will keep pushing on.



#22 berry1014  OFFLINE  

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Posted Apr 18, 2017 - 6:56 am

Been putting money away in a Christmas club and so far we are right on schedule. I have also picked up a few gifts already.



#23 Bopeep  OFFLINE  

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Posted Apr 19, 2017 - 8:26 am

I have a couple more things to get paid off, then I have a plan/budget to START saving for Christmas in July.  Hopefully, I can stick to it and not find other things to do with that money.



#24 jesusluvu  OFFLINE  

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Posted Jul 13, 2017 - 6:17 am

I don't want to jinx it but this budget thing is starting to look pretty good. COME ON BLACK FRIDAY!!!



#25 budgetsRsexy  OFFLINE  

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Posted Jul 18, 2017 - 1:17 pm

I just noticed that there are 5 Friday's in the month of September and December this year. If that means you get an "extra" paycheck those months then maybe people can set aside those funds to help pay for the holidays. Just a thought.

#26 ilikefree  OFFLINE  

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Posted Yesterday, 6:04 am

I've become very disciplined about this...we put $20 into a Christmas club every week. I've also been cleaning and purging my house. Before taking things to donate to the thrift store, I try selling them on several Facebook garage sale sites. It's surprising how much money you can make from things you were going to donate anyway. If they don't sell, then they go to the thrift store. All that money goes into an envelope and gets saved for Christmas shopping. The last way I've been saving money, and I admit this is a hard one to do, is from a way I've read in a magazine. Starting in January, each week you put away money...1st week $1, 2nd week $2, 3rd week $3 and so on, up to the 52nd week. I've found it easier to start with the $52 and work my way backwards.


Sometimes the thoughts in my head go for a walk out through my mouth. This is rarely a good thing. :no:



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