Most people tend to overspend during the holidays and can simply write it off as a once-in-a-while occasion. That could be true, yeah but in the end if you hadn't planned to spend that much you might find yourself in dire straits. There's one easy way to avoid all that. Since you know that you'll need to spend a certain amount of money for holiday shopping why not plan for that from the beginning of the year? You could stash a little bit of savings into a special account or coin jar if you like . . . money set aside specifically to be spent on holiday shopping. What do you think?
I always put money aside for my holiday. Actually I have a special account just for my holiday savings to which I add every month. Perhaps it sounds ridiculous, but I also have an old-fashioned piggy bank, in which I continuously deposit coins and small bills. It's amazing how much adds up at the end of the month.
I do this by keeping in mind the holidays throughout the year. I start working on online earning sites as early as possible because they don't pay that much but as I accumulate a years worth of work I know I'll have enough to fill out the expense needed for the holidays. Some years I've been a bit lazier than others so I didn't make as much of a dent on the expenses but even then I think it helps a lot because it's a lot better than having none and I end up using all my actual money to pay for gifts rather than just the extra I've accumulated.
We have a coin jar that we use to hold excess coins in the pocket. But for Christmas, we use those coins to give to the carolers. And for my other savings like some 100 bills in an envelope for emergency, they would be gone after Christmas. I get a headache writing down the names of everyone that we should give - that includes the mailman, garbage collector, and all other sundry people connected to our lives.
I agree that it is a good idea to have money specifically for the holidays. It prevents the holiday season from rolling around and you not having enough money to purchase presents, and you avoid the risk of overspending. I have done that many times in the past and it is a horrible feeling knowing that I am going to have to recoup that money somehow.
You have to put money aside, and you have to make a plan so you always know exactly how much you're going to be spending at this time of the year. If you don't do this, then you are always going to run the risk of spending far too much money, and this is something that you just can't afford to do. I always try to be as organised as I possibly can be, and it usually works out well for me.
Yes that is indeed a good idea to have some money stashed for your holiday shopping. I think aside from putting spare change in a coin jar, you can also allot a portion of your earnings every payday to be used for holiday shopping so that overspending can be avoided during the holidays.
Thats a great idea if you would like to save some money specifically for the holidays. Any parent knows that travel costs multiply dramatically when kids are added to the mix -- you need more money, more more more.
People are always talking about looking for ways to remove stress from their lives and holiday shopping is a huge source of stress for many people. It is sad in a way because the holidays are meant to be a time for fun, relaxation, and being with family. The more money you can start to save toward the holidays now since we are 11 months away, the better you will feel when the holidays role around again.
I agree, although I always save some money here and there over the course of the year, not exactly for this purpose but yes this is a good idea, especially if you have a bunch of loved ones that you're going to be spending money for during the holidays.
I always do this, because it means that I'm able to spend that money on what I intended to spend it on and not have to worry so much about finding money from my income at the time to pay for it. Sure, bits and pieces end up coming out of it because I may well forget to budget for something (last Christmas for example I thought I'd budgeted for everything, then realised I'd forgotten to buy any wrapping paper!) but most things I can get out of the money that's set aside strictly for that purpose. While I try not to go over, sometimes it has to happen I guess.
I actually have a separate bank account for the soul purpose of squirreling away money for Christmas and birthdays. I set my budget at the beginning of the year. Come up with a total, divide by 12 and put away the necessary amount each month. This is my new system. I haven't always done it, but I am excited about it and it has worked very well so far this year.
I always approach xmas with a dollar amount in my head that i will not go over. When buying gifts for my son, i strive to buy gifts that he can use and that are thoughtful; not bought for the sake of volume. So far, with these 2 approaches i haven't put money on credit cards.
That is exactly what I do! Some years ago I crated a special bank account where I redirected certain amount of money from my paycheck. It's nothing significant but imagine how much money would save a person who quits only smoking. It certainly adds up. Don't you think?
I could never put away a stash of money for a holiday. It doesn't feel that special to me because if I do that, it just feels like I;'m planning for something like a vacation, and I don't want to feel like that on holiday's like Christmas. I'd rather wait until it gets close to the holiday to start worrying about it. It's more special to me when it comes around and goes away like it's supposed to. Saving throughout the year means it's always around and on my mind.
