Don’t Wait for Winter to Start Thinking About the Holidays
It may seem a bit soon to be thinking about winter holidays, but we advise people to plan for them all year long. Now is as good a time as any to get ready for the winter holiday season and all of the expenses that come with it.
Start saving. Generally, we advise having a set amount to spend on gifts, and to save toward that goal all year. For example, if you plan to spend $600 on gifts this Christmas, you need to set aside $50 every month in a savings account you know will remain intact. Ask about a special holiday club account at your financial institution. If you haven’t started saving for your holiday spending yet, then get to it–you still have a few months, and everything you set aside now will ease your burden when you’re in the thick of the season.
Set expectations early. Soon, before the holiday season begins, let everyone know you want to keep your holiday spending in check, and they shouldn’t plan to spend too much on a gift for you. Let everyone in your family and circle of friends know you’re on a budget this year and encourage them to do the same. In this economy, they’ll certainly understand, and they’re even likely to thank you.
Start early, finish early. Start your shopping soon and try to be done before December begins. That way you avoid all the hassle of shopping in the busiest time of year. The only reason to wait until the end of November to do any shopping is to take advantage of any post-Thanksgiving day sales.
Shop for research, not to spend. When you go shopping, leave all of your credit & debit cards, checkbooks, and cash at home. Think about each purchase for at least a day before you return to the store to buy. Cut out all impulse spending this year and see how much you save.
We hope by giving you a heads up now, you’ll start thinking about this holiday season early enough to avoid getting sucked into expensive last-minute and off-budget shopping. The more of you who can get through the holidays without having to use credit cards to do your shopping, the merrier our holiday season will be!
Photo: launceston_lad
