
Brandon Gregg – Let It Save: Your Ultimate Holiday Budget Plan
Expert Insight on Holiday Spending
Contribution from Brandon Gregg on MoneyGeek
BBK is in the news again!
This time Brandon Gregg, CFP® shares his thoughts on a few financial planning topics with a holiday theme. Moneygeek.com has featured Brandon and his expert advice. Read more below…

What questions should consumers ask themselves before creating a holiday budget?
There are both emotional and analytical questions that need to be asked. It can be detrimental to start the budgeting process without first asking thoughtful questions.
Analytical Questions:
What does my current cash flow allow for holiday spending?
Does it fit within the confines of my annual budget?
Do I spend equally on each individual?
What is the current price environment, and do I need to raise my budget from previous years?
What amount would be too much to spend (and will it affect other budgeted items)?
Questions with emotional aspects:
Are you being thoughtful?
Will the gifts bought within the budget allotted confines be meaningful to those receiving them?
Are you creating any memories with these gifts?
How can buyers balance the emotional with the practical when it comes to buying meaningful gifts?
This can be difficult because it is easy to become impulsive when you find what you believe to be the perfect gift. It is important to look at your budget and ensure that if you decide to spend extra, the effect is not detrimental to the rest of your holiday shopping and even more so to your overall budget needs. A few ways to protect yourself are:
Be factual; keep the emotional side from winning out on every decision. Be ready to say, “I will spend x dollars for this person.” You can also ask the question, “Will this be meaningful?”
Stick to your budget. You created the budget for a reason. Chances are there will be a direct effect on you if you continue to overspend.
Don’t overthink it! If you believe it will be significant, it most likely will be.
If getting gifts for everyone on the holiday list is going to put someone in a monetary bind, what alternatives do they have during this season of gifting?
There are several ways to enjoy the holidays together. You can be creative!
Enjoy fellowship together anyways and forget the presents. Families want to be together, laugh and catch up with the year’s stories! That is what is most important, right?
If you really want to do presents at a lower cost, play some holiday games where everyone brings in a smaller gift, such as “White Elephant.”
Try something different and give one gift to the family. There are unique opportunities, such as on “Cameo,” where you can pay to have a celebrity do a small video shoutout. What family wouldn’t like a big name wishing them a happy holiday? The great thing about it is that it can fit almost any budget. Costs can be as low as $50, and I bet it will leave a memory that no one will forget.
If getting gifts for everyone on the holiday list is going to put someone in a monetary bind, what alternatives do they have during this season of gifting?
There are several ways to enjoy the holidays together. You can be creative!
Enjoy fellowship together anyways and forget the presents. Families want to be together, laugh and catch up with the year’s stories! That is what is most important, right?
If you really want to do presents at a lower cost, play some holiday games where everyone brings in a smaller gift, such as “White Elephant.”
Try something different and give one gift to the family. There are unique opportunities, such as on “Cameo,” where you can pay to have a celebrity do a small video shoutout. What family wouldn’t like a big name wishing them a happy holiday? The great thing about it is that it can fit almost any budget. Costs can be as low as $50, and I bet it will leave a memory that no one will forget.
