Do you make a holiday shopping budget every year?
You know, how you carefully decide that you’re not going to spend any more than, say, $200 total over the course of the holidays… and then end up spending $1300 instead because you just end up going crazy at the mall? Everything’s on sale! Gotta get it now, now, now!
Making a Christmas Budget shouldn’t be that hard… especially if you take into consideration the ACTUAL SPENDING THAT PEOPLE TEND TO DO AT THE HOLIDAYS.
Knowing what you SHOULD be budgeting for is really the first step in knowing what you need to be aware of as you’re making your own personal spending limits. Of course you want to buy that new coat, but maybe there are some other things that should take priority — or will end up costing you more than you were expecting — while you put your budget together.
Here are the TOP TEN SPENDING CATEGORIES for HOLIDAY SHOPPING, as determined by consumer spending over a two-year period:
- Groceries – 24% of total budget
- Restaurants – 20.5% of total budget
- General Retail
- DIY / Home Improvements
- Home Goods
- Sporting goods
- Toys / Games — just 1% of total budget