Cash In For Christmas
It may be Halloween, but if you haven’t been saving money for your holiday season purchases, you’re really going to be in for a scare. The current economy has made planning and preparing before the “big day” oh so much more crucial.
I’m always amazed when I meet people who somehow manage to forget for the first ten months of the year that there’s this big expensive event coming in December. It’s not like they move Christmas every year. It’s always on the 25th day of December, like clockwork. But what do these forgetful souls typically do? They buy their holiday happiness on credit and pay interest on it for five or six months until they get their tax refund to apply to their accounts. Failing to plan is planning to fail. Don’t be surprised if the refund you get next year is smaller than you planned for, and won’t cover your seasonal spending.
One of the greatest ways to take a lot of the stress out of the season is to cash in. Don’t buy Christmas on credit. Save money each month in a Christmas club or dedicated savings account. If you set up an automatic deposit, you can just coast knowing that the money will be there when the need for it arises. Of course, that’s the kind of planning that needs to be done in January, not October. What do we do today?
Today, you’re going to have to follow the advice of all those folks who say, “cut your spending”. If at all possible, don’t buy on credit. If you have to, spend as little as possible and pay it off as fast as you can. Think about trading services with your friends and family: babysitting, grocery shopping, car washing. Give a gift certificate for “movie night” when you’ll rent a movie and make popcorn for the family. Or give coupons for lessons in a craft or skill that you can teach that you know others are interested in learning. Instead of racking up debt or spending beyond your budget, consider what you’d most like to give in terms of time. That’s always a far more precious gift.
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Do what I do…make presents. Supplies in bulk are cheap and go pretty far. If there is something you are particulairly good at, making jewelry, knitting, crocheting, sewing, etc. Make your gifts. They are not only cheaper, but your time and energy is in them, and are far more precious than anything that has been made in mass and purchased.