Setting a Budget and Sticking to It

Setting a Budget and Sticking to It (Even with Impulse Spending)

The holidays are a time for giving, celebration, and, often, increased spending. For people with ADHD, holiday shopping can come with added challenges, such as impulse spending and the difficulty of sticking to a budget. With holiday sales, gift-giving pressures, and seasonal temptations, it’s easy to overspend—and face stress later.

At ProADHD Coaching, we understand the importance of a balanced approach to holiday budgeting, especially for individuals managing ADHD. In this article, we’ll offer practical tips for creating a budget, avoiding impulsive purchases, and using tools to keep holiday spending in check. With a few strategic approaches, you can enjoy the season without breaking the bank.

Setting a Realistic Budget for Holiday Expenses

A well-thought-out budget can help prevent holiday overspending and make the season feel more manageable. Here’s how to set a budget that works for you:

• Determine Your Total Spending Limit: Start by deciding how much you can afford to spend overall. Write that plan out and keep it somewhere you can see it regularly. Consider your current financial situation and any other upcoming expenses. Once you have a total amount in mind, it’s easier to allocate funds thoughtfully.
• Break Down Your Budget by Category: To make budgeting less overwhelming, divide your spending limit into categories, such as gifts, holiday meals, decorations, travel, and events. Be specific and keep it visual. For example, you might allocate 50% of your budget to gifts, 20% to food, 15% to decorations, and 15% to other holiday activities.
• Set Spending Limits for Each Person: If you’re buying gifts for multiple people, set a spending limit in writing for each person. Again, this visual plan and accountability is key. This helps prevent last-minute splurges and keeps gift-buying consistent with your budget.
• Add a Buffer for Unexpected Expenses: The holidays often come with surprise expenses—an extra gift, a donation, or last-minute travel costs. Setting aside a small buffer (like 5-10% of your budget) can provide flexibility without risking overspending.

Strategies to Curb Impulse Spending

Impulse spending can be especially challenging with ADHD, as holiday deals and sales can feel irresistible. Here are some strategies to help curb impulse purchases:

• Make a Shopping List and Stick to It: Before you start shopping, create a list of the items you need and stick to it. Whether it’s for gifts, decorations, or groceries, a list provides focus and can help you avoid straying toward unnecessary purchases.
• Shop with Cash, Not Cards: If you tend to overspend with a card, try shopping with cash. Set aside cash for each shopping trip according to your budget, and use only that amount. When the cash runs out, your shopping is done.
• Avoid “Peak” Shopping Times: If possible, avoid shopping during busy hours when crowds and sale signs can be overwhelming. Shopping in quieter hours can help you make more mindful decisions, reducing the likelihood of impulse buying.
• Set a Waiting Period for Big Purchases: For larger purchases, implement a 24-hour waiting period before buying. This time allows you to think over whether the item is really necessary and worth the investment.
• Practice Mindful Shopping: Before making a purchase, pause and ask yourself, “Is this in my budget? Is it on my list? Do I really need it?” Mindful shopping helps you stay intentional and focused.

Using Tools to Track Spending

Budgeting tools can help you monitor your spending and stay aware of your progress. Here are some recommended tools for tracking holiday expenses:

• Budgeting Apps: Apps like Mint, YNAB (You Need a Budget), and PocketGuard allow you to set spending limits, track expenses, and view all holiday purchases in one place. These apps also send notifications if you’re approaching your spending limit.
• Expense Trackers for Specific Categories: Some budgeting apps, like Goodbudget or Splitwise, allow you to allocate funds by category (like gifts or meals), which can be especially helpful for holiday budgeting.
• Gift-Specific Apps: Apps like Santa’s Bag and GiftPlanner can help you organize gift ideas, track spending per person, and even keep notes on purchased and wrapped items. These apps help you avoid last-minute overspending and keep your gift list under control.
• Digital Receipts and Records: If you’re shopping online, keep digital records of your purchases to track spending accurately. Many online retailers offer the option to store receipts or email confirmations that can be saved for easy reference.

Rewarding Yourself for Sticking to Budget Goals

Sticking to a budget can feel challenging, so celebrating your progress with small rewards is a great way to stay motivated. Here’s how to make budgeting feel rewarding:

• Set Small Goals with Mini-Rewards: For example, if you manage to stay within your weekly shopping budget, treat yourself to a favorite activity, like a cozy movie night, a special coffee, or a holiday treat. Setting small rewards for sticking to your goals can make budgeting feel less restrictive and more enjoyable.
• Acknowledge Each Milestone: Whether it’s staying on track for a week, completing your gift shopping, or coming in under budget, acknowledge each milestone. Celebrating these moments reinforces the progress you’re making and can encourage continued effort.
• Reflect on What You’ve Saved: Take a moment to calculate what you’ve saved by sticking to your budget. This reflection can provide a sense of accomplishment and help you appreciate the effort you put into mindful spending.

Conclusion

Setting a holiday budget and sticking to it can feel challenging, especially with the extra temptations of seasonal sales and impulse buys. By creating a realistic budget, using strategies to avoid impulse spending, and tracking your expenses, you can stay on top of your holiday finances and focus on the joy of the season.

If you need additional support for managing holiday spending or other ADHD-related challenges, consider reaching out to ProADHD Coaching. Our team is here to offer personalized guidance and resources to help you feel more in control this holiday season.