Top 5 Christmas Budgeting Tips

Yellow Brick Road


With Christmas season upon us, here are Yellow Brick Road’s top five budgeting tips to ensure your holiday season is stress free:

Have a dedicated cash stash

Open a dedicated savings account for Christmas spending. There are plenty of free online savings accounts out there, many of which offer a high yielding return. By having a separate account, you’ll find it easier to keep track of spending on gifts, decorations and donations. Plus you’ll be earning interest on the money you’re saving in the account.

Use an online budgeting tool

There are plenty of online budget tools that can help you plan for the holiday season and help you keep track of your spending. Start early by making a list of all the people you need to buy for: family, friends, service people, teachers, etc and an approximate amount that you want to spend. Remember, it’s not just about gifts. There is a lot more entertaining and parties at this time of year, so you’ll like be spending more at the grocery store too. Little things add up. Check out Yellow Brick Road’s budgeting tools at to get started.

Don’t fall into a credit card trap

Plenty of people charge everything and then end up getting nailed with 20% interest trying to pay it off in the months following the holiday season. Buy what you can afford and if that means cutting back on a few things, so be it. Remember, Christmas is an expensive time of year for everyone, so don’t be afraid to suggest a Kris Kringle or a pot luck dinner party. A little savings goes a long way.

Shop smart

You don’t have to spend a fortunate to get your friends and family something they’ll love. Utilise group buying websites, daily deals emails and online marketplaces like eBay to look for discounts, and don’t wait until the week before Christmas to buy gifts. If you see something that you think a friend or family member would love, buy it when you see it. Spreading out spending over time will help ease the financial burden of the holiday season.

Make a resolution to start saving for next year

It’s too late now but if you start saving in January for next Christmas, you’ll have a brilliant head start and you’ll eliminate a lot of that financial stress. Even a few dollars a week can make a big difference! Kick your savings into high gear with a high return savings solution. Yellow Brick Road’s Smarter Money has returned 7.7% per annum since inception and it’s one great way to make your money work for you.

Download our Christmas Budget Planner here.