Quill’s Guide to Surviving the Holidays: Don’t Break the Bank!

The holidays are just around the corner, and I'm sure you can already smell the gingerbread baking and hear "Jingle Bells" in your head as you pass by storefront windows, anticipating all the gifts that you will buy your loved ones this year. Sounds perfect, right? Well be careful, because before you know it, the New Year is here and you're flat broke. How did that happen so quickly?

Well, as harmless and simple as gift-giving may seem, most people are unaware of the total amount of money they actually end up spending around this time of the year. Even if you don't celebrate a holiday, most people still use this time to go on vacation with the kids or travel to see family members. Whatever you choose to do, you still risk paying the price after this joyous time has concluded.

Though it may seem early, you should be planning your holiday budget before summer is over! Some experts even suggest starting your holiday budgeting as early as January. Once you decide how much money you are willing to spend on each person, you will be able to set aside a realistic amount of money each month until the holiday shopping season begins. To determine a reasonable spending amount, adjust the amount spent the previous year. Determine if you have the means to spend more money this year or if you need to cut back. A new addition to the family or pay raise at work could mean greater spending, but stay within your budget.

Whatever you decide, make sure you stick to it! Avoid impulse buying and charging on multiple credit cards. By choosing one credit card for holiday spending or creating a separate savings, you will be able to closely follow your set goals--allowing you to welcome the New Year without worrying about how you are going to pay off your debt from last year.

For most of you reading this, it is too late to start the long-term budgeting process, so here are some last minute helpful hints when it comes to budgeting for the holidays:

• Consider starting a gift-giving lottery instead of buying something for every person in your family--put everyone's name in a hat and each person pulls out another person's name
• If you still feel like you should get gifts for everyone within your immediate family, cut down on the amount of gifts to buy and start getting creative--bake cookies, knit a sweater or make homemade candles

Offer yourself up! Offer to babysit, run errands or help out around the house. Don't think that if you don't buy your cousin that iPod he wants, he'll never talk to you again. Just enjoy this time off with your family and friends and do what you can. Always remember that you're not the only one that goes through the money woes around the holidays. Set goals and stick with them! There are always ways to budget for the holiday...even at the last minute!

Check out what is new on Quill's Office Living community for December! Learn how to do a little something extra for your holiday houseguests to make them feel welcome and comfortable in your home.