It’s starting to feel like fall in Iowa. I’ve put out a few pumpkin decorations, planted some mums and contemplated making pumpkin bars.
So, you know what that means? Christmas is right around the corner!
I know it can be a stressful time for so many reasons, so today I want to share some Christmas budgeting and savings tips! Financial health is important! A little planning now can make the holiday season so much smoother.
Make a Shopping List
You make to-do lists for everything else, why not the holidays? Start by listing everyone you want to buy something special for, including small gifts for neighbors and teachers. Then, brainstorm some ideas for each person based on their hobbies and interests. This helps you stay focused on what you really want to get for each person, rather than veering off and buying random things that might be a good fit for someone.
Set a Per Person Budget
Be realistic about what you can spend as a lump sum on the holiday season. Don’t forget to calculate in greeting cards, holiday meal prep, Christmas entertainment and baking supplies in addition to gift giving. Assign a dollar amount to each person or activity. Then, do the math and total up your estimated spending and divide it by the number of weeks until your holiday parties begin!
Tuck Away Cash
If you break down that estimated amount into smaller chunks, it’s much easier to put the money aside. Whether you tuck away cash in a special savings account each week, or each pay period from work, you’ll be glad to see your Christmas nest egg grow over time. Ask your bank if they have a holiday savings plan that lets you earn interest on the lump sum. That’s like getting free money!
Save Unexpected Income
Do you sell crafty things on the side or have an annual fall rummage sale? Allocate those extra funds to your Christmas savings plan to give yourself a little boost. Or, make extra money by taking unwanted winter clothes to a consignment shop and e-Baying those collectibles that you never look at anymore. You’ll declutter your home and boost your bank account all at once!
Get The Best Bargains
Once you have your savings plan figured out, look for the best online deals possible to stretch those dollars. Focus on free shipping, cash back rewards to replenish your checking account, BOGO offers and special holiday add-ons, like free samples and bonus gift cards. Scope out Black Friday sales and stick to your shopping list! You got this!
Until Next Time,
PS: Wonder what I’m up to today? Visit me on Facebook at Cupcakes and Yoga Pants!
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