Start saving for the Holidays? But it's September! When saving money and budgeting for the Holiday season, now is the best time to start. Let's head into the Holidays with less stress and a budget ready to celebrate. Here's how!
Set a budget
Now is the time to put on your thinking cap and get into the details. List out each person you want to purchase a gift for, a budget per person, and stick to it! By working your Holiday budget into your day-to-day budget, you can ensure you don't overspend and stay on track with your financial goals.
Account for the unexpected
As the Holiday season approaches, you may realize that there are expenses you didn't account for before. Those could be things such as an additional person to shop for, the cost of travel to a friend's house for a Holiday party, or the cost of gift-wrapping materials. Either way, it all adds up. Add a little extra to your budget to account for these!
Don't be afraid to step out of the box
While an expensive gift bought from a store can be meaningful, some of the most thoughtful and well-received gifts are often a little outside of the box. There are lots of ways to show your loved ones that you care. Homemade or nostalgic gifts are a great place to start! Giving them a gift that helps them feel special while recalling a memory will be heartwarming for the giver and receiver.
Opt for potlucks, Secret Santa gift exchanges, etc.
When celebrating the Holidays with a large group of people, the costs can certainly add up! By opting for a potluck-style meal, a "Secret Santa" gift exchange, or making your cards, you can save tons of money while still feeling festive!
Open a Holiday Savings Account
Did you know that you can open a Holiday Savings Account? While this account doesn't necessarily come with jingle bells or a dreidel, it can help you save money for the months leading up to the Holiday season. That way, the money is stored in its own account where you won't touch it, and the funds are automatically transferred to your Savings or Checking Account in November. Set up a Holiday Savings Account today!
Give the gift of time
We all want more time and never seem to have enough of it, right? Time sure is valuable! Giving someone the gift of your time is a great way to show them you care. By taking them out for a meal, offering to help them with household tasks, walking their dog, or taking care of their children, you can show generosity while reducing the stress on your Holiday budget.
Happy Holidays!
"Before anything else, preparation is the key to success." – Alexander Graham Bell.
While it may seem early, now is the time to prepare your budget for this Holiday season. You'll be so glad you did!
