Planning for Holidays
Valentine's Day gets me every year. It’s one of those special occasions that sneaks up on you somehow. You’ve barely had time to break your New Year’s resolutions, and then there it is, the day before payday and the week after the Super Bowl.
It’s one of the easiest — and yet most detrimental — celebrations to forget. If you didn’t plan ahead, you probably paid a penalty for last-minute gifts. ($25 dollars for some half-dead gas station flowers, don’t mind if I do.)
Somehow it’s difficult to plan for special occasions we know will come each month. But there are some methods for managing your spend.
First, review a calendar and make a list of all holidays, important birthdays, and relevant cultural occasions.
Next decide how much you want to spend on each occasion.
Then, build that into your monthly budget.
The internet is full of advice like this gift guide that discusses appropriate spending ranges for most occasions and relationships.
For large occasions like a giveaway ceremony or Christmas, decide how much you want to spend, divide that by the number of months you have left to save for it, and put the resulting number of dollars away each month leading up to the event.
To save cash on individual gifts, use coupons and browser plugins like Honey that help you find discounts on items you buy online. Last, consider gift alternatives like experiences, quality time, and shared meals that can be more affordable and more meaningful.
To get you started, here’s a rundown of key special occasions:
January - New Year’s Eve and expenses to kick off New Year’s resolution commitments
February - Super Bowl and Valentines Day
March - St. Patrick’s Day and Mardi Gras
April - Powwow season begins; Easter baskets and egg hunts
May–June - Mother’s Day and Father’s Day; Graduations and weddings
July - Independence Day celebrations
August–September - Back to school expenses
October - Halloween costumes and candy
November–December - Holiday season