How much do you put away for Christmas shopping?

ScrimpAndSave · #1 (**permalink**) 04-25-2008, 11:52 PM

I am sending $25 a pay to my credit union for Christmas money...I have 26 pays a year, so I really think it should be enough.

momof1in150 · #2 (**permalink**) 04-26-2008, 03:54 AM

It depends on how many people you buy for. We have 2 children and a couple of others that we buy and bake for so we spend around $600 at Christmas.

PrincessPerky · #3 (**permalink**) 04-26-2008, 04:51 AM

We don't, we buy thru the year, and we use our 'extra' (the money that goes to debt each month) rather than save up. that way the extra 11 months of the year goes to debt.

Thrifty Ray · #4 (**permalink**) 04-26-2008, 08:26 AM

I have 4 kids, 3 grandbabies ( will have a 4th by christmas)..spouses of kids, 3 parents, the hub, and a couple of good friends at work. This year, we are sortof "Skipping Christmas" and the whole family is renting a big vacation home the week after Christmas to create a memory rather than buy a bunch of little gifts that will be forgotten. I suggested this idea to the family after my dad passed away this last Christmas (we learned he was dying on the 22nd and he passed away on the 29th). Everyone is truly excited all year and looking forward to it..and there is no pressure to search for gifts. The kids are each chipping in a small amount to help with food...and the hub and I are putting what we would normally spend into the rental.

I usually budget $50 per week and shop sales throughout the year. This is probably extravagant to some, but it is something I love doing and I sacrifice other places to enable me to do it.

garilon · #5 (**permalink**) 04-27-2008, 04:35 AM

Before you put any money away agree a set budget with family and friends - believe me chances are everyone will be happy to spend less than they have to. christmas can be a financially stressful time - spend time thinking about how to give in expensive gifts. It is possible to save money on gifts without it looking like you have.

zakity · #6 (**permalink**) 04-27-2008, 11:55 AM

I put away about $600 total. I used to buy stuff throughout the year, but I am sick of being the one that does everything with xmas. I kept saying that I wasn't doing it next year. This year, I am dead serious. I am giving the boys $100 each (what we spend on them). They are totally fine with it and are planning out how they are going to spend it all.

It breaks down this way:

$300 - the boys

$100 - for family gifts (we draw names)

$100 - for DH and I to buy for each other (usually it is household stuff, like the electric griddle that I got DH last year. It is stuff that we need but giving it as a gift gives it double purpose)

$100 - for stockings (at Grandma's, everyone gets everyone else something small and useful for everyone else's stockings, usually from the dollar store or a small tool or something. Last year, I bought everyone credit card sized pocket scrapers for their cars. A few years ago, I bought all the guys pocket sized LED flashlights. DH uses his constantly still.)

Ima saver · #7 (**permalink**) 04-27-2008, 01:49 PM

I use to budget $30 a week for a total of $1500. But we have cut really back on buying gifts and I just send the girls money! We use that money to help other people to have a little nicer christmas now.

DRAGONFLY6984 · #8 (**permalink**) 04-28-2008, 07:52 AM

so far i got $500 saved i was thinking maybe around $1000 thats presents for 10 people 2 of them are my gransons and the xmass dinner that 25 people attend each year that should be enough.

fruitbowlk · #9 (**permalink**) 04-30-2008, 05:59 AM

I save $50 a month in my christmas club which gives me 600.00 for christmas. Each oct or Nov I send out an e-mail and ask my family how we are going to do christmas. Last year we just brought presents for the children which we have three to buy for so I didn't need the whole 600.00.

jIM_Ohio · #10 (**permalink**) 04-30-2008, 06:30 AM

I budget my Roth for $625/month. After 8 months it's maxed out. If we wanted to, we would have $2500 the last 4 months set aside in cash for xmas or something else.

StanFatherof3 · #11 (**permalink**) 05-06-2008, 08:11 AM

I save $40 each week. But I call it my "gift" fund rather than a Christmas fund. That way, I also have money to buy birthday gifts or wedding gifts.

Pitman · #12 (**permalink**) 05-08-2008, 07:34 AM

I try to save about $300 - $350 for xmas, last year I only spent $240 give or take.

noppenbd · #13 (**permalink**) 05-08-2008, 08:12 AM

We put away $25 a week for the first 48 weeks of the year. This comes out to about $1200 a year, which is about what we spent last year.

Aleta · #14 (**permalink**) 05-08-2008, 08:47 AM

Put away $105 a month from January to June.

cicy33 · #15 (**permalink**) 05-08-2008, 10:21 AM

I have $20 a pay period set aside. 26 pay periods. That will help with xmas but not do it all.

GoodBuyGirl · #16 (**permalink**) 05-14-2008, 12:48 PM

I play instant win games as a hobby. I usually win enough prizes and gift cards to cover most of Christmas. Then we also have a savings account that is used for all the holiday dinners and extras that pop up here and there.
A few good sites to win prizes or earn points to trade for pizes are:

Live Search Club

BoomerTowne - The Destination for a Generation

myinstantwin-The most complete listing of instant win games online. Play scratchers, slots, phone in instant win games, contests and more all for cash and prizes

These are all great sites to have fun and save money.

FrugalFish · #17 (**permalink**) 05-14-2008, 01:01 PM

Christmas spending is a constant source of stress for me.

We buy for parents, a few siblings, nieces/nephews, and our own family- of course.

I like to keep extended family gifts around $500 total, but whenever I do, I feel like such a cheapskate after all the gifts have been exchanged. The others just spend so generously. After last Christmas I sat down and tried to figure out a budget that would be more in line with what our relatives do- I came up with $1700

That just seems like too much, especially since we aren't super close with our families.

Honestly, I don't know how much we are going to spend this year. Probably somewhere between $500 and $1700. I already have the $1700 set aside, but I have a feeling that as Christmas draws closer, I'm not going to be real eager to spend that much.

NDArmyGrrl · #18 (**permalink**) 05-14-2008, 02:03 PM

Quote:

Originally Posted by FrugalFish

Christmas spending is a constant source of stress for me.

We buy for parents, a few siblings, nieces/nephews, and our own family- of course.

I like to keep extended family gifts around $500 total, but whenever I do, I feel like such a cheapskate after all the gifts have been exchanged. The others just spend so generously. After last Christmas I sat down and tried to figure out a budget that would be more in line with what our relatives do- I came up with $1700

That just seems like too much, especially since we aren't super close with our families.

Honestly, I don't know how much we are going to spend this year. Probably somewhere between $500 and $1700. I already have the $1700 set aside, but I have a feeling that as Christmas draws closer, I'm not going to be real eager to spend that much.

Don't give in to the pressure to spend just to match them, try to find the right gift for them that is in your budget, and both of you will be happy. Shop year round and may find things that they LOVE and because they love it you will not feel like a cheapskate. Why do they spend so much? Are they wishing they could be more like you and spend less?

FrugalFish · #19 (**permalink**) 05-15-2008, 07:38 AM

Quote:

Originally Posted by NDArmyGrrl

Don't give in to the pressure to spend just to match them, try to find the right gift for them that is in your budget, and both of you will be happy. Shop year round and may find things that they LOVE and because they love it you will not feel like a cheapskate. Why do they spend so much? Are they wishing they could be more like you and spend less?

For years I've told myself this over and over again- that we need to spend what we feel comfortable spending and not a penny more. Heck, I preach it to others (or so it seems). I don't know why they spend so much- because they can? DH and I are not doing too bad with our life, but everyone around us is doing much better.

You (inadvertently?) make the point about why we shouldn't spend so much anyway- you say find something that they will love. The problem is we are not a close family, so I generally don't know what they will love (and frankly, none of them need anything), short of expensive video games and jewelry.

I would be happier not doing gifts with the adults at all, but that has always been a no-go when suggested. I'm feeling stressed enough about finances this year that I'm guessing we'll spend a lesser, usual amount, and after the gift exchange will feel lousy- like once again we didn't do enough! Ah well, sorry to rant.

GoodBuyGirl · #20 (**permalink**) 05-15-2008, 02:00 PM

Quote:

Originally Posted by FrugalFish

For years I've told myself this over and over again- that we need to spend what we feel comfortable spending and not a penny more. Heck, I preach it to others (or so it seems). I don't know why they spend so much- because they can? DH and I are not doing too bad with our life, but everyone around us is doing much better.

You (inadvertently?) make the point about why we shouldn't spend so much anyway- you say find something that they will love. The problem is we are not a close family, so I generally don't know what they will love (and frankly, none of them need anything), short of expensive video games and jewelry.

I would be happier not doing gifts with the adults at all, but that has always been a no-go when suggested. I'm feeling stressed enough about finances this year that I'm guessing we'll spend a lesser, usual amount, and after the gift exchange will feel lousy- like once again we didn't do enough! Ah well, sorry to rant.

Maybe you could just tell them you have already accepted an invite to another engagement and will be unable to attend.