I don't start with a budget, but I do draw up a list of everyone I'm buying for, what I want to get them, and what I'm willing to spend. I look at the final total and I'm usually ok with it, if not then I go in an adjust. If I wind up being a little off I don't worry too much. What I really need to do a better job of is trying to budget (or at least keep track of) the other things - Christmas cards, postage, extra baking supplies, wrapping supplies, the tree (no decorations because I have TONS of them from my relatives) - I could probably do a little bit better there, but have never really kept track of my expenses to be able to budget it.