Remember To Include These Overlooked Expenses In Your Holiday Budget

Don’t forget to include these often overlooked expenses too.

The holidays are filled with fun, friends, and family. They’re also filled with expenses too, however, and it’s the unexpected ones you need to watch for. If you don’t, you could go over your budget, which could lead to you going into debt for many months (or years) to come.

Here are holiday expenses you should include in your budget besides the usual gifts:

Meals

What will you almost always find at a holiday get-together? Loads of food. Even a home-cooked family meal can pack quite the wallop on your wallet, which is why food expenses must be accounted for in your budget.

Alcohol costs during holiday parties can run up your receipts to amounts higher than you’re used to. To cut these costs and others related to food, ask guests to bring something to contribute and share in the expenses.

Also, when budgeting for meals and holiday food, don’t forget items such as decorations, utensils, and the like.

Although invitations to holiday dining may be hard to decline, try to avoid eating out as much as possible. Doing so is one of the easiest ways to adhere to a budget during the holidays.

Decorations

You probably have specific decorations you’ve saved over the years to make your home feel as holiday-like as possible. As you go shopping, however, you may run across new decorations that tempt your wallet.

While you don’t have to avoid buying new decorations, be sure to include some space for them in your budget. And if you need something different for your home, try getting your decorations from garage sales or online marketplaces.

You’d be surprised at how beautiful some secondhand decorations are. Combine their uniqueness with significant savings, and you may ditch retail stores for their décor.

Work Expenses

Your workplace may have a gift exchange where you’ll be expected to purchase something for a coworker. Include this in your budget, as well as any other gifts you’d like to give to your boss or other employees.

Holiday Cards

Do you like to go all out when it comes to cards? Hiring a professional photographer to snap pics of your family so you can send them to others can be quite pricey. Include card-related costs in your budget if this sounds like a yearly tradition you enjoy partaking in.

Travel

Many people forget to include travel in their holiday budget when it’s one of the most significant expenses around. Holiday travel can be extremely costly, so if you’re visiting someone far away, don’t forget to include it.

You can cut holiday travel costs by carpooling with others to share transportation expenses. Buying airline tickets well in advance can save you money as well.

Donations

Toy drives and giving to charities should always be part of your holiday budget if you do them yearly. If you find that there’s no room for them this year, you could donate your time to a worthy cause instead via volunteering.