(Newswire.net — December 7, 2015) — Holidays are great. We all look forward to them so we can spend quality time with our families and friends alike. However, when most people plan for their monthly budgets they seldom remember to budget for holidays within that month. We all have to admit that we spend a lot more than usual during holidays and for this reason, a holiday can create a big dent in a budget especially when that holiday has not been planned for. This is because purchases are done at random and even the most insignificant purchases can sum up to a huge amount leading to an unexpected high spending. Nevertheless, this spending does not occur in all holidays. Some holidays are more important which warrants that they receive more attention especially financially. It is for this reason that I decided to do my college essay on how to budget for these four important holidays.
Christmas:
Christmas has become an expensive affair in recent days with an expenditure of almost $750 per head according to the National Retail Federation. This is because it is associated with the giving of gifts and the purchases can prompt huge spending tendencies. However, this kind of spending can be salvaged if the purchases are made well in advance before the festivity fever kicks in and commodity prices rise as a result.
Mother’s day:
The second Sunday of May is considered the second-most expensive holiday and expenditure of more than $150, as people spend large amounts of money in gestures of appreciation to their respective mothers. The most common purchases during this time are jewelry and breakfast or lunch. It is advisable to shop for jewelry well before the holiday approaches to avoid full price purchases. As for food, most restaurants offer discounts for group orders, and it is always good to take up these offers to save some cash.
Easter:
This is the third-most-expensive holiday with an expenditure of $145, and contrary to the belief that not much purchasing is done during Easter, the spending is almost as much as any other major holiday. The major items bought during the Easter holiday are gifts, candy, clothes, and food. To save up on spending too much on these, you can make your candy and gifts as well. You can also get cheap clothing from reasonable pricing shops and as for food you can always have a homemade meal that costs much less that eating out in a restaurant.
Valentine’s Day:
The day that marks the celebration of love makes the fourth-most expensive holiday with an expenditure of $120 averagely. The highest purchase for most men, especially, during this day is Jewelry for their significant others. The price of jewelry during and close to Valentine’s Day can be insanely high and can lead a huge expenditure, therefore creating a subsequent dent in many men’s budgets. However, this being the next holiday after Christmas, most men can do their jewelry shopping right after the end of the Christmas festivities when retailers are at their lowest activity level regrouping after Christmas. This saves a considerable amount as opposed to shopping close to this holiday.