GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
This is particularly true for retirees on fixed incomes.
Here are seven ways retirees canset a holiday budget and stick to it.
Check out bank and credit card statements from previous holiday seasons.
Identify expenses that went straight toward the holidays, and consider how they might need to change this year.
Go over all income sources includingSocial Security payments, retirement fund withdrawals and outside income.
Review how much discretionary spending your budget allows for the holidays.
Setting realistic boundaries is essential to sticking to your budget.
Make a List of Holiday Expenses…
If you cant afford totravel this year, then let your loved ones know ahead of time.
They might decide to come see you instead.
Paying with cash also ensures you only spend money that you actually have available right now.
Whether you use a spending app or pencil and paper, this should be a priority during the holidays.
For our full Privacy Policy,click here.
