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So, how’s your budget doing these days?  Fall can be an expensive time anyway, and the recession is making this year even harder than usual for a lot of families.

If you haven’t given much thought to the financial pitfalls awaiting you over the next couple of months, this is the perfect time to take stock.  When you contemplate spending you probably jump ahead to either Christmas or Hanukah, but even Halloween and Thanksgiving can take quite a toll on your pocketbook if you purchase costumes, candy and decorations, or buy food to make a feast for a large group.

A little planning ahead can make a big difference in the amount of debt you incur (or not) by January.  The first thing to do is decide as a family on a budget for each holiday, then look for ways to make your dollars stretch as far as possible.  Here are some simple ideas:

October

• Decide, very soon, what your children will be for Halloween.  Many thrift stores have a good assortment of costumes and/or props right now, and you can put together an outfit much more easily (and less expensively) than if you have to buy a costume for retail price the week of Halloween.
• Try to purchase your candy all at once, and do the same with decorations.  If you buy candy over a period of time you can end up spending more than you wanted to, and having more than you need.  Buy treats close to Halloween, so they don’t mysteriously vanish before the big night arrives.
• For some great inexpensive decorating ideas, see Creatress’ blog this week. 

November

• If you’re going to be hosting Thanksgiving, think about how much food you need to make and decide how much you want to spend on a ham or turkey.
• Choose your menu early, so you can take advantage of the sales many stores have on Thanksgiving staples.
• Get your kids involved in the decorating.  For dozens of inexpensive Thanksgiving crafts, check out Family Fun’s website.  If you have loved ones overseas, get holiday packages in the mail now – you can save a huge amount of money by avoiding last minute expedited shipping.

December

• Decide how much you want to spend on each child, and how to divide funds between large and small gifts, the fun and the practical.
• Think about your options for adults in your household.  Do you all want to exchange gifts, would you rather pare down and focus more on the children, or might you do a special activity together and forego all the adult presents?
• Look at alternatives to standard gifts.  Maybe your best friend really needs help cleaning out her closet, or your mom could use a hand sorting through old photos.  Time spent helping someone can often be the perfect gift.
• Remember the stockings.  It’s both unpleasant and costly to realize on Christmas Eve that you’ve completely forgotten about stocking stuffers.  Pick up inexpensive goodies whenever you come across them and you’ll be well prepared.
• Set aside money for the many seasonal expenses other than gifts, such as new outfits, travel costs, and even holiday cards.  Buying and mailing large quantities of cards can become very costly.  Are there people you could send an e-card to or call instead of sending a traditional card? 

This time of year can bring so much joy when you have young children, and you don’t want financial concerns to intrude on this.  By making a budget and planning ahead, you can focus more of your attention on your kids and on making wonderful memories together.    

Your assignment:  Look at your finances from now until the end of the year, and decide how much you want to spend on each of the upcoming holidays for food, gifts, activities, and all the other expenses.  If money is tight, decide which expenditures are most important to you and how you can save enough for the things that matter most to your family.

Ready to take the assignment?  Want to talk about this?  Share your ideas and thoughts at the M.O.M. Balance Forum.