Budget Strategies: Gifts and Birthdays

by Miriam Caldwell | More from this Blogger

27 Dec 2006 11:00 PM

As you sit down and plan your budget for the year, you should budget for gifts. You should plan for each family member's birthday. You can also plan for extended family members. You may also want to plan for a few extras that may come up as surprises throughout the year; this could include birthday parties that your children are invited to. Here are five ways to plan and budget for gifts for the upcoming year.

1) First you need to write down whom you are planning on buying gifts for this year. This should include Mother's day and Father's day gifts. You can also include Easter gifts, and Valentine's Day gifts. You can decide how much you will spend on each child's birthday. You may also want to set amount for extended family members as well.

2) Once you have reached your total you should divide it by twelve. This should allow you to plan and purchase the gifts as the events come up. The money from this category should roll over into the next month if there is money leftover. This allows you to spread the cost over the entire year.

3) You can plan for the unexpected children's gifts by buying generic gifts when they go on sale. Some easy ideas include craft supplies, puzzles, board games and basic toys. If you have a wide variety of gifts to choose from your child can still choose what he gives to his friends.

4) It is important to remember to stick to the budget. This will allow you to purchase nice gifts for your family. If you have a specific gift in mind for your child you can watch for sales leading up to his birthday.

5) You can also include the cost of birthday parties and dinners in this category. This way you can throw a nice party without throwing off your budget for the month. Children love birthday parties, and you can help them have an enjoyable time by planning ahead.

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Learn more about Miriam Caldwell

Miriam is a SAHM mom of three children. She has a daughter who is seven, and two sons, four and two. She loves being a parent and spending time with her children.

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