With the Holiday season upon us, we naturally shift into gift-giving mode to celebrate the special people in our lives - but it’s expensive! I get it. My spending is ALWAYS higher during the month leading up to Christmas. So, I want to share with you how I handle my holiday spending, along with a few planning tips you, too, can tackle it without the added stress one month at a time:
October/Early November: start stashing extra in your savings account for December’s higher than normal expenses. One way to find extra money - instead of buying yourself things you want in October/November/December stop and put it on your Holiday Wish list.
Let’s be honest, wouldn’t you rather have someone else buy them for you anyway? 😂 Now you have extra cash to spend on other people or put away in an investment account. Way more rewarding!
Early November – download Rakuten and have it be an extension in your browser. It will pop up and say, “Hey 5% cashback at Macy's.” You then hit accept and say hello to a cashback check in the mail. I made $300 last Christmas!
Thanksgiving – as you’re digesting your mashed potatoes and gravy, sit down and make your Holiday shopping list – to whom, what, and how much it’s going to cost. Can you afford that number? If not, go back and change to what you can afford.
Black Friday – The Friday morning after Thanksgiving take your Holiday Shopping list and see what’s on sale. If it’s on sale, buy. Items are sometimes 50% - 70% off. This is when I do most of my Christmas shopping. If it’s not on sale… think twice before you buy!
Cyber Monday – The Monday following Thanksgiving, go online first thing in the morning. Anything not on sale during Black Friday might be on sale today for you to buy.
If it’s not on sale during those two dates, it may never go on sale. Ask yourself if you want to bite the bullet, buy, and be done with Christmas shopping in the first week of December. Then, go enjoy the holidays with friends and family with no stress. '
Spent less than expected during the Holidays and have extra cash lying around? Great! More towards your life goal fund!
Happy shopping and saving!
Hope you have found my tips helpful. If it would benefit you to have a financial partner along the way to help with big financial decisions in life schedule a FREE 30-minute call here.
