Buying holiday gifts with a budget in Austin, Texas is the best gift you can give yourself!
Did you know there are people in Austin who are still paying off their 2017 holiday gift purchases in October 2018? Yikes!
Capital Budget Strategies, LLC, Austin’s best Money Coach, is here to help everyone financially survive the upcoming holiday season. The key to successful gift buying is to make a budget and stick with it, to be financially organized for the holidays.
Rule 1: It is not how much you “want” to spend, but how much you “can” spend. Promise yourself to pay only with cash or a debit card, not credit cards.
Rule 2: If you need to use a credit card, you cannot afford to buy the gift.
This Austin Money Coach suggests using the following method when buying holiday gifts with a budget in Austin, Texas:
1. Draw two columns on a sheet of paper.
2. In the top right-hand corner of the page write down how much you CAN spend on holiday gifts. This is your “Holiday Spending Limit.”
3. Title Column 1 as “PERSON” and write down the names of everyone on your shopping list.
4. Title Column 2 as “AMOUNT” and, next to each name, write how much you can spend on that person.
5. Add up the total dollar amount for gifts in Column 2.
6. Compare the total dollar amount of Column 2 to your Holiday Spending Limit. Is the Column 2 number more or less?
If your Column 2 total is less than your Holiday Spending Limit, congratulations! Go forth and purchase!
If your Column 2 number is more than your Holiday Spending Limit, make adjustments to the amounts listed next to each name until the total dollar amount in Column 2 matches your Holiday Spending Limit.
For example, suppose your Holiday Spending Limit is $250. If you have 5 people listed, you start with $50 per person. However, if you spend $100 on one person and $75 on another, you can only spend $25 each on the remaining three gifts. The key is never go beyond your Holiday Spending Limit.
If you want to finally get fully financial organized before 2019, contact Capital Budget Strategies, LLC, Austin’s best money coach. For only $149, we sit down with you, your bank statements, your bills, your credit cards, and your pay stub and conduct a complete financial review.
We work with you step-by-step to organize your finances once and for all! Our Austin Money Coach will help you set up a personal budget, an emergency fund and a Snowball Debt Repayment Plan (if you need one).
We can meet during the week, on weekends or in the evening. We can meet at your office, your home, our home office or any quiet place that has comfy chairs, coffee and a large table! Our Austin money coach will meet you.
Give us approximately 4 hours and begin your journey to financial security and winning your retirement.
Question or Comment? Enter it below.