![]() ![]() During the year, you put money aside, in an account or a piggy bank, as you see it best. The best way to ensure that you live through Christmas without the risk of becoming indebted is to create a fund or specific savings for these expenses. Use more account options, such as low-cost gifts, if you work in a profession such as sales you can offer them a discount or even gift cards, with a maximum set value that the person can use on a purchase you want. Have you ever tried to make money doing research?.Try making handmade presents or decorations.Do you have any Amazon credits, Pampers points, or Plenty points?.What gift cards have you received but have not spent them yet?.You can choose how to be creative by expanding your budget or reducing how much you spend on each person and item. ![]() Add it all up, and if the ultimate value exceeds the one you set for the Christmas gifts, start over. If possible, point out what you will contribute to each person and how much money you expect to spend on each one. Now that you’ve defined how much you can spend on gifts, distribute that amount to everyone who wants to offer you a gift. Make a list of the People You want to Buy Gifts for Thus, please keep the following logic in mind: the first two categories have maximum spending values, while the third represents what it saves in the month the percentage is the minimum. It means you will achieve your goals and financial freedom faster. In the third category, the reasoning is “the more the better.” For example, if you can save 50% of your income and live comfortably with percentages of 30 and 20 in the first two expense classes presented, great! ![]() Thus, if you find higher values in the first two categories, adjust your spending by making cuts and adjusting your standard of living to your earnings level. This portion represents their savings and financial targets, being at least 20% of the budget. With 80% of your earnings committed in the categories above, it is time to separate a portion of your income for purposes such as emergency reserve, pay off debts, and financial investments. The budget for spending as consumer goods that do not fit as essential items and spending as leisure should include in this category and correspond to a maximum of 30% of the budget. Expenses that guarantee a bare subsistence, such as rent, food, consumption bills, and transportation, should include in this category. The rule of 50 30 20 is drawn up given a straightforward premise: dividing the budget into three categories. Take the value you defined and divide it into categories by setting a limit for each of these categories. Use method 50 30 20 to organize the budgetĭraw up a list of all expenses to include in the Christmas budget. The ideal goal would be to aggregate all these expenses and set a limit for this year or compare the two years to spend. Include various types of expenses, from shopping, meals, stays, travel and gifts. Search for all the invoices you find, along with bank movements, and put everything in a notebook or computer file. Advertisements Tips to Rock your Christmas Budget Take Notice of Previous Year’s Spendingīefore you think about this year, try to find out how much you spent last year. ![]()
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