Why did you start saving for the holidays – even though they were months away
It’s an expensive season that I like to prepare for early.
the main points
- Many consumers routinely accumulate holiday debt.
- Make sure you set aside money for vacations early to avoid stress.
Last winter, I spent several thousand dollars on holiday gifts. And while it was a lot of money, I was happy to spend it.
I like to shower the various important people in my life with gifts that bring them happiness. Also, I know that my children’s teachers, coaches, and activity leaders are hardworking and a lot of patience. And so I would like to express my appreciation by donating generously during the holidays.
But obviously the money I spend during the holidays can add up – especially since it’s not like my regular bills magically pause during that time of year. That’s why I’m already starting to set aside money for the holidays – even though it’s several months away.
It’s all about managing my costs
Saving several thousand extra dollars isn’t something I can easily do in a short amount of time (not without loading work to the point where I don’t have time to sleep). But over the course of six months, it became more than possible. That’s why I generally try to give myself about half a year of time to deposit extra money into my savings account for the holidays. By spreading out my savings, I usually hit my goal, so I don’t have to cut back on gifts or other expenses in December.
It’s an approach I like to take any time I have big expenses coming up. Let’s take summer camp for example. Camp is babysitting for my kids during the summer months, and costs several thousand dollars. But instead of only paying for those two months of camp out of my earnings in July and August, I instead set aside money for it every month during the year so that I wouldn’t be bothered when those education bills started coming due.
Likewise, saving for the holidays in advance removes a lot of stress. That alone makes it worth it.
Don’t land in a confined space
Many people inevitably end up with a huge credit card balance on holidays. And when you take into account the various expenses that tend to come up, from gifts to travel to decorations, that’s understandable.
But accumulating holiday debt is, frankly, a bad way to start the new year. So, if you don’t want to land that boat, do what I do and start making money away from the holiday season now. It may seem silly to start saving for a Christmas tree when you’re busy planning picnics to the pool or beach, but you’ll be thankful you started that leap when the holidays roll around and your expense list continues to grow. .
In fact, it’s not only too early to start saving for the holidays, but it’s also never too early to budget your vacation. Doing so can make it easier to set savings goals and avoid financial stress during what is supposed to be the most amazing time of the year.
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