My December Budget
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.
*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.
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!