How Do You Get This Year’s Christmas Cash?
- 1. The first step of Christmas savings is to create a spending plan based on your current budget and how much flexibility you have in it.
- Make a list of every gift that needs to be purchased for whom and the amount you can afford to spend. Make sure to include all items needed for the holiday such as food, travel, and decorations.
- Commit to not going into debt. Once you have a plan, stick with it! Whatever you decide to spend, be ready to stay within the plan.
Now Make the Plan Work!
- Where can you make adjustments to find the extra cash? Review your budget and move the money that you have budgeted for your daily trip to Starbucks to home-brewed coffee or try brown bagging rather than grabbing lunch out.
- Ask yourself what traditions that you could skip or downsize. Instead of hiring a photographer for the family photo, do it yourself and create your own. Perhaps you can start a new family tradition of baking cookies to give or consider a name exchange instead of buying for extended family members.
- Think of ways that you could increase your income. How about selling your fabulous Christmas cookies? Take on a few extra hours at work or some part time work. If you love wrapping gifts or addressing cards, offer your services for a fee. Quite a few people would gladly pay someone to do a task that they would rather not do.
- How about selling that extra stuff that is boxed away in your attic, basement, or garage? You will be decluttering and simplifying your space. Look for sales and deals early. Then you will also have more room for whatever you may be bringing into the house after the holidays.
- The best plan is to start early and look for ways to save money in your weekly budget. If you come under budget in groceries or clothing, save the difference in your Christmas savings. Over time, those savings will add up and make a world of difference.
- Almost everyone has spare change laying around. Instead of having it laying around the house, start putting it into a jar. This is a great way to start saving for the holidays or anything else you may need!
By following a few of these suggestions, you can feel less stressed about the upcoming holidays. If you are not into the whole holiday spending, use these tips to plan for a special vacation or another special occasion.
