I can’t tell you how many years I’ve entered November and felt like I was ALREADY behind the eight ball. It wasn’t until recently that I really sat down and asked myself, how can I truly feel prepared for the next holiday season rather than feeling chaotic and broke?
How would you feel if you could enter November and already have money set aside?
The extra spending on food, gift giving, traveling, and donations really adds up this time of year. I’m sure you could add on with your own shopping list.
Do you feel peaceful … secure … empowered? If not, what can you do?
Having the money set aside before the holidays happen, will create guilt-free, stress-free holiday time for you and your family. The money will already be there for each special person in your life. Money for when things go on sale.
This is possible.
As much as it feels like planning for next year isn’t rightthismoment, it is.
Start by writing a list of people, food, and travel that happens through the holidays.
Also, attach the ideal number you would like to spend on each item. Just to give you an idea, we set aside $30-$50 for the grandparents, nieces and nephews.
Then, total up the dollar amounts. Divide the total amounts by 12. (Example: if your total is $1,500, then divide this by 12 and you need to save $125 per month).
Once you figure out your monthly goal, start setting this aside in January. By the time the holidays come around, you will have the cash you need.
Creating Your Holiday Fund
The best strategy, I have found, is to take the money out and put it in a safe spot. Many local credit unions (local to the seacoast is Holy Rosary Credit Union) have club accounts that act like mini savings inside your savings. You can label the club accounts to be whatever you’d like them to be. (This is different from a Christmas Club Account. Often these have rules and stipulations that prevent you from taking the money out as you want.)
Having the money set aside in your safe, as cash, or in a separate savings account allows you to have access to the money anytime throughout the year. So, if you find gifts on sale throughout the year, the money is already set aside for you!