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Save Now for a Simpler Christmas Season

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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1,023 thoughts on “Save Now for a Simpler Christmas Season

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