We always start with good intentions. We make lists that we check twice. We give ourselves generous budgets. But, if you’re like me, we somehow manage to overspend on the holidays. If you’re not like me, well done you!
With the holidays over, it’s too late to change what we’ve done. But, it’s not too late to get back on track, and create a better savings plan for this year.
Adapt along the way
Even if your Christmas Envelope is red right now, that’s okay! Since you overspent in that Envelope, try spending less in another. If Groceries looks extra full, make an Envelope Transfer to help pay back the overspending on holiday shopping.
Make a new plan for this year
Start by figuring out how much you spent on gifts, travel and entertaining last year. The Spending by Envelope report is a great place to start. Once you know the number, create an Annual Envelope with a budget of that amount. Goodbudget will help you set aside what you need from each paycheck to hit your savings target in time for the holidays.
With your budget back on track and your new plan underway, you can rest easy knowing that grandma will enjoy that really overpriced candle, and you can say goodbye to guilt.
Get started on your plan now!
– The Goodbudget Team