College Connect: Effectively budgeting for the holiday season

Posted By Crystal Beasley

By Emma Diltz

As the holiday season is upon us, students are strapped for money more than usual. Throughout the rest of the year, they’re usually focused on buying groceries, paying rent and with the little money they have left, shopping or attending a variety of events. All too often, December rolls around, the same time every year, and students haven’t even started pricing gifts, let alone purchasing them.

For me, I like to begin my shopping no later than September. Even though I’m likely to spend relatively the same amount of money, I’m able to spread it out over the course of three months, rather than break the bank and run up a massive credit card bill that takes forever to pay off.

I start preparing in January by deciding exactly how much I’ll spend on everyone. From there, I add it all up and divide it by 12 so I know how much I need to save for the rest of the year.

In order to buy for all their loved ones, students might find it helpful to set a budget for each person they plan to buy for. Personally, I set around a $70 limit for my parents, $50 for my sister and $40 for my cousins. Depending on each individual and his or her personal budget, the student might prefer to spend less or more. Regardless, this ensures that they only spend what they are able to afford and will not go over the price limit.

It doesn’t take a lot of money to have a great holiday, but it does make it easier. By planning ahead and finding the best deals, students don’t have to go bankrupt while trying to find the perfect presents for everyone in their lives.

Diltz is a junior studying journalism at the University of Missouri.

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