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Hidden Costs of the Holidays

It's important to remember not all holiday costs are placed underneath the tree. Here are nine holiday costs that are often overlooked when making a holiday budget.
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Hidden Costs of the Holidays

The holidays are a great time for gathering with friends and family. When it comes to planning your holiday budget, however, it’s important to remember that not all holiday costs are placed underneath the tree. Here are nine holiday costs that are often overlooked.

Decorations
Many people enjoy decorating their home inside and out for the holidays. While festive garlands, ornaments, stockings, and centerpieces can be beautiful, adding to your décor or replacing items can also add expenses. Keep in mind that extra lights to turn your home into a twinkling wonderland may also increase your energy bill. Consider optimizing your energy output by utilizing timers that will automatically turn your lights and decorations on and off.

Food
Preparing special meals can add up quickly, even if it is just with immediate family. Make sure to account for all the appetizers, desserts, and beverages that go along with the main course. Using disposable plates and silverware can make clean-up easy, but can also add to the overall cost of a meal.

Gift Wrapping
It’s easy to forget the costs of supplies needed to package presents. Wrapping presents, gift bags, or other accessories like ribbons, tags, and bows, all add to the cost of gifts. Keep in mind that the more gifts you purchase the more gift wrapping supplies you’ll need.

Mailing Cards
The cost of stamps to send out holiday greeting cards can be surprising if you aren’t expecting it. Be sure to factor the cost of stamps into your holiday budget this year so you’ll be prepared for the cost at the Post Office.

Shipping Gifts
Just like you’ll want to consider the cost of postage for cards you send, you’ll also want to consider the cost of shipping if you are or sending gifts to a loved one out of the area. The price of shipping individual items can add up quickly, especially if you aren’t prepared. Many retailers offer free shipping on items, so it may be a good idea to order online and have them ship it for you.

Charitable Donations
In your holiday giving, you may also want to consider donating to your favorite charitable organization. If you plan on charitable giving this season, make sure you add it to your holiday budget.

Holiday Traveling
If you are taking a road trip to visit family and friends this holiday season, you’ll need to keep the price of traveling in mind when creating your budget. The cost of fuel and road snacks can quickly get expensive, but planning for the cost can help you be better prepared for it.

Holiday Thanking
We like to show our appreciation for the special people in our lives. Mail carriers, teachers, hairdressers, and garbage collectors are all people we may feel connected to. Small tokens of appreciation or tips can also add up to a large expense.

Self-Gifting
When out shopping for your loved ones, you might stumble upon something that would be a perfect gift for you! Be sure to set some of your budget aside so that you are prepared to treat yourself if the moment arises.

The holidays are an excellent time to connect with friends and family, and no matter how you choose to celebrate, you can keep your season merry and bright by considering these unexpected extras in your holiday prep.

This article is for general information only and not intended to provide specific advice or recommendations for any individual.

 

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