Holidays, the season of giving. Although this might mean giving back to the community, it also requires a lot of spending. Especially if you and your loved ones prefer to spend your holidays overseas. Having a holiday budget might just provide you with more means to spend within a limit.

The New Savvy - Women - HolidayBudgetThrough this budget, you can plan what you spend and not stress about being in debt.

Begin By Listing Your Holiday Expenses

Before you even think about going overseas, make a list of all the holiday expenses that you will have. Getting gifts, cards, wrapping papers, decorations and even charitable donations.

This will give you an idea of how much you need to be able to splurge and travel overseas. Bear in mind that going overseas with your family will also require a lot of money. Even if you save up the whole year, you can still be unprepared for the expenses that roll along with December.

Decide on Your Spending LimitHoliday Budget

Once you have determined your potential expenses, decide on how much your holiday budget should be. Instead of using up your salary and savings that you acquired the whole year. Make sure that you set aside enough money for Christmas expenses. 

Assign Money to Each Category  

Dividing your spending limit into different categories will help you allocate your holiday budget accordingly.

For example, by dividing it into gifts, food, travel expenses and even charity will help you split the money fairly and not overspend.

Having a set amount helps you find ideas within that price range.

Make a Shopping List  

With the many discounts and offers in every mall and market, shopping is a given. Keeping within your price range can be done by making a shopping list.

List down the people that you want to give gifts to and allocate a budget to each individual. Make sure you include wrapping paper and cards as well. There is no need to splurge and buy only branded goods, but something that is memorable and meaningful.

Be smart about your shopping. Buying holiday decorations that can last for years can help you reduce your expenses. 

Track Your Spending

As you tick off every item on your shopping list, make sure that you carry a budget sheet with you. Whether it comes in the form of a physical tracker such as a journal or even in the form of a digital app in your mobile phone.

As you purchase every item, subtract it from your holiday budget to ensure that you can track your spending.

The New Savvy - Women - HolidayThis will let you know how your budget is doing at all times and make it easier to make adjustments between categories if needed. Tracking your spending is the biggest key to sticking to your budget.

Savvy Tips!

  • Use cash instead of charging your expenses to a credit card. This will help you track your expenses better and not exceed your holiday budget.
  • Keep a look out for sales and discounts when buying Christmas gifts. Some presents can be bought with 50% off and more. Brave the crowd!
  • Consider shopping online can save you money and time. When you go window shopping, take note of the items and code numbers. Look them up online as many online stores offer extra savings and free shipping!
  • Earn extra holiday money by working part-time.  You can earn extra money to cover your holiday expenses by taking on a holiday job.


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Founder @ The New Savvy
Anna Haotanto is the Advisor (former CEO) of The New Savvy. She is currently the COO of ABZD Capital and the CMO of Gourmet Food Holdings, an investment firm focusing on opportunities in the global F&B industry. She is part of the founding committee of the Singapore FinTech Association and heads the Women In FinTech and Partnership Committee. Anna is the President of the Singapore Management University Women Alumni. Anna invests and sits on the board of a few startups. Anna is also part of the Singapore Chinese Chamber of Commerce & Industry Career Women’s Group executive committee. Anna’s story is featured on Millionaire Minds on Channel NewsAsia. She hosts TV shows and events, namely for Channel NewsAsia’s “The Millennial Investor” and “Challenge Tomorrow”, a FinTech documentary. Anna was awarded “Her Times Youth Award” at the Rising50 Women Empowerment Gala, organised by the Indonesian Embassy of Singapore. The award was presented by His Excellency Ngurah Swajaya. She was also awarded Founder of the Year for ASEAN Rice Bowl Startup Awards. She was also awarded the Women Empowerment Award by the Asian Business & Social Forum. Anna has been awarded LinkedIn Power Profiles for founders (2018, 2017), Tatler Gen T, The Peak’s Trailblazers under 40 and a nominee for the Women of The Future award by Aviva


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