I don’t want to freak anyone out or anything, but Christmas is just a few months away. With that being said, now is the perfect time to start thinking and saving money for the holidays.
Yes, I know it seems like we have PLENTY of time to plan for the holidays but do you remember how last year went? It came and went by like lightening. So, let’s get a jumpstart this year and eliminate that last-minute stressful shopping and overspending.
How to Save Money For The Best Christmas Ever
I’ll admit, I am one of those crazy weirdos that start shopping for the following holiday season right after Christmas. Yes, I shop the Christmas clearance every year for the following year.
I also start saving for Christmas right away so I have a fully funded Christmas budget by the time Black Friday rolls around.
But I get it, that’s not everyone. So here’s a few ways you can start putting away money for Christmas as of right now.
Save $50 Every Paycheck
Whether you get paid 2 times a month, weekly or even monthly, start putting away just $50 a paycheck. You’d be surprised how quickly that adds up. And my suggestion is, put it away somewhere you won’t be tempted to spend it like a home safe or a separate savings account.
Round Up Savings Method
You know how you use your credit or debit card for nearly every single thing you buy or pay? Use the round up method and put away that excess amount for Christmas. For example, let’s say your Netflix charge is $16.50 a month, round up and put that $0.50 away. Then your Chick-fil-A charge was $22.29, you can round up to either $23 or go the extra mile and round it up to $25.00. Then put that extra money away into a savings account. You’d be surprised how quickly all these little amounts will add up.
Do A No-Spend Month
Pick a month between now and December and opt to do a no spend month. This means that you are not allowed to spend any money besides your normal bills (this does include food, gas, etc.). Any money left over for the month then becomes your Christmas fund.
Sell Anything You No Longer Need
Chances are, your house is filled with all sorts of crap you probably bought from Target on a whim because it was “cute”. Well, I am here to tell you that it’s okay to sell it and make some cash for the holidays. List it on Facebook Marketplace, in your local classifieds and even on places like ebay, Poshmark and Mercari. I’ve had great success just listing stuff around my house for sale and have made thousands of dollars.
Budget It In
Last by not least, if all else fails, at least budget in a Christmas fund. Some money is better than no money saved and beats charging gifts onto your high-interest credit card. Just like you track your bills every month, track your Christmas fund like a bill. Take whatever you think you’ll need like $500 for example and divide it by the amount you need to save out of each paycheck and then opt to not touch the money until you Christmas shop.
So, there you have it, hopefully these tips will help you save for Christmas to take a little bit of stress out of the equation.