Christmas Gifts vs Christmas Budget... why bother?

Every year I set aside x amount of money each month for Christmas gifts. I base it on the previous year's budget, add whatever amount I exceeded on that budget and add 5% for inflation. In theory by Christmas I will have plenty of money to buy gifts. Yeah, to date I've not had a year that works. I just added it up and I'm again over... this time by only $137 and change, but still...

Do you always overspend for Christmas?

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smiler2012 · 61-69

{@ontheroad] sadly budgets are all well and good but as you say things go up sadly so what you desire to buy as a chritmas present is not always feasible . the problem generally is people spend spend and spend though there is no tomorrow and in january the reality hits home when the bill for the credit card comes through the letter box

Ontheroad · M

@smiler2012 yeah, i got caught by the credit card bill years ago and now dont use a CC for Christmas. I just over spend and go deeper into savings than planned.

smiler2012 · 61-69

@Ontheroad very wise move and not too be tempted too get into deep debt