My December Budget

Hi all!

This coming month is going to be unique in terms of my budget, especially my expenses. Between two weddings, birthdays, and Christmas of course, I will be buying a lot of gifts. In addition, Jake and I are traveling to Las Vegas for one of the weddings and are making a vacation out of it!

To be honest, I usually feel pretty anxious every year when December rolls around; knowing that I’m going to be spending more money than usual just makes me nervous. I like to have a certain amount in my bank account and when I feel like it’s getting too low, or if I feel like I’m hemorrhaging money, I tend to freak out. However, since I’ve started budgeting, I am able to mitigate some of these anxieties and can actually enjoy buying gifts for my loved ones. Therefore, I thought I’d share how I tweaked the amounts on some of my expense categories to accommodate the holidays, weddings, and traveling.

“Since I’ve started budgeting…I can actually enjoy buying gifts for my loved ones.”

Income: $3,214
*Fortunately, I will also be receiving a bonus from my job. But since I don’t know what the amount is going to be, I am not going to budget around it and instead treat it just as it is…a bonus.

Expenses:
budget-comparison

To accommodate some of my additional expenses, I decreased my student loans payments for this month. Luckily I’ve been paying about 8x more than my loan payments to get them paid off quickly so I feel comfortable lowering my monthly bill.

Since I will be out of town a good amount in December, I lowered my grocery bill because I won’t be eating at home as much. In conjunction with this, I increased my restaurant bill since I will likely be eating out more. Hopefully I don’t spend that much on restaurants, but I have peace of mind knowing I can afford to do so.

Obviously, the largest change in the budget is in the “Gifts” category. I’m fortunate that we do Polyana/Secret Santa with our families so I only have to buy a couple of presents. Knowing how much I can spend on gifts (for the holidays, birthdays, or weddings) actually makes the process easier since I can look for presents in specific price ranges. I love having options, but it’s also nice to be able to narrow down your choices.

I’m curious – do you tweak your budget for the holiday season?!

Check out My Actual December Budget and see how my forecasts compare!

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2 responses to “My December Budget”

  1. Laura says:

    We usually plan our budget with regular monthly amounts for things like bills and groceries, but then we also have a few categories that are irregular spending, which we give an annual amount to, like gifts and travel. We total up the annual amount for irregular items and divide by 12, and set aside that amount each month, so it makes planning a little easier.

    • Maia Root says:

      I like that idea a lot, Laura! I like that it’s more long-term thinking and definitely helps you not only with spending but also saving. Jake and I will have to consider that!

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