I Need To Duplicate Our Christmas Fund

We have a Christmas gift fund that we contribute to every month so that the cost of our gifts is spread out throughout the year.  This allows us to keep our budget intact during the spike of spending that inevitably goes on during Christmas.

I’m thinking that I might need to duplicate that for the month of May.  It turns out that May is a very high cost month when it comes to gifts.

Here’s what we have (so far):

  • Mrs. Beagle’s Birthday
  • Baby Beagle’s Birthday
  • Mother’s Day Gift I: Baby Beagle -> Mrs. Beagle
  • Mother’s Day Gift II: Me -> Mrs. Beagle (for doing such a great job raising Baby Beagle)
  • Mother’s Day Gifts III and IV: Us -> Our Mothers

The number of gifts has doubled since the addition of Baby Beagle.  We obviously didn’t have the expenses associated with purchasing a gift for him (or celebrating his birthday with family and friends), and the two gifts to my wife weren’t really there since in Mother’s Days past, she wasn’t yet a mother!

We don’t break the bank with any of the gifts.  As with all spending we do, we look for the most value for our money and don’t go overboard.

Note: I have to stress these are all important things to celebrate and recognize, and I wouldn’t cut or reduce any of them!  This isn’t a complaint at all, just a personal finance discussion!!!

Normally, we factor in gifts as just a regular part of our spending.  For most months, that seems to work just fine, but the additional gifts makes this a bit tougher.  I think I’ll look into trying to throw a few extra dollars per month into our gift fund and keep that in reserves for May!

What do you think?  Do you have any particularly expensive months outside of the holiday season that you save for?

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4 thoughts on “I Need To Duplicate Our Christmas Fund

  1. First off…good for you for recognizing the importance of celebrating all of these things!! This is an on-going struggle in my home (and my kids are almost 8!).

    As adults with our own family, we have stopped giving our mom's gifts for Mother's Day from us…the kids give them something homemade though. (Oh, and this goes for Christmas too.)

    If you are finding that May is a gift heavy month, then I totally think you need a May fund. Start in June for this…and you will be all set for next year.

    Yakezie…

  2. Ours tend to all come twice a year. The first comes between Thanksgiving and Christmas and the second comes between Mothers Day and Fathers day. I save for all gift giving once a month like you do with the Christmas fund, but for all occasions, too.

  3. We have two months like that. April has about eight family birthdays and August has five.

    I have a generic gift fund that put money away for each month. It incudes Christmas, birthdays, etc.

  4. I had the same problem with birthdays and holidays coming up throughout the year, and not having the extra money. So I set up a Gift Fund in my ING Account and deposit automatically a certain amount from each paycheck. This is not only for birthdays, but also will be intended for Christmas. Good luck.

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