Welcome to the third installment of the Momdot Christmas of Dreams Blog Party!
Nov. 14, 2008
Have you started your Christmas shopping yet? Do you budget for the holidays? Do you always stick to your budget? Share with us any budgeting tips you may have!
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Christmas shopping is normally a lot of fun for me, but not so much this year. My car accident cost us almost $500 that wasn’t planned and then we spent about $200 helping Chrissy out with her car accident. So, needless to say, we are broke. We haven’t really bought anything for Christmas yet.
I picked up a little something for my FIL at Halloween time and a trinket for my Mom last week (it was on sale for less than $3). But, other than that, we haven’t bought anything.
We desperately try to budget for Christmas, but it always seems like something comes up. We planned on $1,000 this year, but never actually saved the money up.
We do have a budget for the rest of our expenses, though. Tim manages our money. He tells me when I have money to spend and when I need to be frugal. I mostly listen. I don’t really want for much. (Except a baby!)
We follow the Dave Ramsey principle of paying off your smallest debt first. We started over a year ago, paying off our lowest loan as quickly as possible. We put a tiny bit over the minimum on all of our other bills except for the target bill. Then on the target bill we put all of our extra money from each pay check. That way we were able to pay it off a lot faster than expected. Then we moved to the next lowest loan. We’ve done pretty well this way.
Well, that's all for today, I'm off to go blog hopping!