Are you setting money aside for Christmas? I know you may not be ready to think about Christmas yet, but here’s the rub: If you don’t plan for it a little bit right now it will cause you pain later. By simply doing one thing you can make your holiday better. Today that one thing is to start saving money to cover Christmas expenses.
Step 1: Estimate expenses
How much do you spend on gifts, decorations, entertaining, donations and travel? If you aren’t sure just check last year’s credit card bills or see how much your bank account decreased beyond typical monthly expenses. Ballpark it.
Step 2: Set the Goal
Take the amount you spend and divide it up into smaller chunks based on the amount of time between today and Christmas. You can divide by the number of months or weeks (or even days).
Step 3: Pick a Safe Spot
Decide where you will put the money you are saving. Choose someplace safe where you won’t, or can’t, get at it before Christmas; your savings account, a Christmas Club account, your safe deposit box, a friend or relative’s house, your safe.
Step 4: Do It!
Put the money in there! Wherever you are keeping your money, put it in there on a regular basis.
