Save Now for a Simpler Christmas Season

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It is only March, but now is a great time to begin a savings plan for the holiday season. By starting to save now, you will have a simpler Christmas season later!

Get Started

Start by making a comprehensive Christmas list. Include not only the gifts you buy, but all the extras you will need (decorations, lights, wrapping paper, etc.) Now, put what you want to spend on a gift next to each name and add a rough total amount that you’d like to spend on the extras. Once you have your total, make any adjustments to arrive at an amount that you are comfortable with and that is affordable – and then divide by the nine months that are remaining until Christmas. That is the amount you must save each month between now and December.

Shocked? That’s good! So often, we shop under pressure during the holidays and don’t even realize until the credit card bills come in January how much has actually been spent. With a budget in hand, you can save now and pay cash for holiday expenses, as well as take advantage of early gift purchases when you see something special.

Take Simple Steps

So, let’s say that you’d like to save around $1200 for Christmas, and you have nine months to do it. If you save roughly $135 a month between now and mid-December, your holidays will be paid for and you will not have the shock of January bills. Sounds good, but how?

In his article, “How to Save Money: 20 Simple Tips”, Dave Ramsey suggests ways to “find” money that can be saved for a special purpose, such as a holiday fund:

  • Cancel subscriptions you don’t use. I recently went through my Amazon charges and realized I have been paying for a subscription to a movie service that I apparently signed up for when renting a film one evening. I was also paying for Kindle Unlimited, which I had never used. By cancelling these, I save $25 each month. What subscriptions do you no longer use?
  • Cut your grocery bill. This could be an easy place to save at least $50 – $75 each month. Plan a few meals each week, look at what you have already before you shop, stick to the grocery list, and buy generic when you can. You may find your entire Christmas budget at the supermarket!
  • Explore cell phone and cable options. By streaming TV, rather than paying cable, you can save $50-$60 a month, and the same with switching cell phone carriers or eliminating features you don’t use or need.
  • Borrow or buy at a discount. When you do need to purchase something significant, check online marketplaces or even a Buy Nothing Group, if you have one in your area. Often you can find what you need for free, or at a greatly reduced cost – and save something from the landfill in the process.

Saving for Christmas may seen strange when spring is just arriving, but when the holiday crunch hits, you will be glad you did!

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The Perfect Time to Make a Gift List

Presents under a Christmas tree

The end of February is near, and maybe you are thinking ahead to spring planting or a summer vacation. But now is also the perfect time to think ahead to those who will be on your Christmas 2020 gift list!

This may seem a little absurd, especially if, like many, you have just finished paying for all the gifts you gave this season. But that is precisely why it is a good idea to plan now for giving at the end of the year. By planning ahead, you can take advantage of unique gift ideas and sales, which will save you time and money in November and December.

If you have a created a Christmas planner, you may already have a gift list started. If not, creating a gift list is a great way to begin planning. I keep a running gift list on my computer, which I usually update once immediately after Christmas, and again in September when I start looking for gifts in earnest.

For Family First

I am someone who likes to wake up Christmas morning to a huge pile of presents under the tree. I always have numerous gifts for my immediate family to open. My gift list reflects this: next to each family name, I add spaces for the number of gifts I want to have them unwrap.

My immediate family page also has a section for stocking stuffers, where again I add spaces for the number of things I want to put in their stockings. Extended family and friends are on the next page, where their names are simply listed down the side, with one space for each.

And Everyone Else…

Here I also include the more general gifts that I know I’ll need, such as small hostess gifts, gifts for exchanges, something for neighbors, work colleagues, or household helpers (babysitters, dogwalkers, etc.). and a couple of “emergency” gifts, good for last minute giving to anyone. By putting those smaller items here, no occasion or person is forgotten and you will always be prepared for any last minute needs.

Giving the right gift to everyone on my list is, for me, the most fun part of the Christmas season. By making my list early and keeping it updated throughout the year, I can be sure to make everyone on it feel special!

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