When it comes to saving money for holiday gift-giving, the idea is to start sooner than later. When you start saving money for Christmas now, you can feel less rushed and under less pressure as the big day nears. This not only makes the season more enjoyable for you, but it can help you shop within your budget as well.
Take a look below at 7 ways to start saving for Christmas shopping NOW, and see how easy it can be to save money without stress or worry. Here is what you need to know!
1. Set aside a percentage of your paycheck each week
One of the easiest ways to save money for the holidays is to be mindful about setting aside cash now. A great way to do this is to set aside a certain percentage of your paycheck each week. You can place this in a savings account or Christmas Club account and watch it grow.
2. Cash in items you no longer need
Search high and low to cash in on items you don’t use any longer. You can consign these items, sell them on the internet, host a yard sale, the list goes on. Take the money you earn from clearing away your clutter and put it into your holiday savings. This is a great way to turn trash into holiday cash.
3. Start making budget cutbacks as soon as possible
Start pinching those pennies as soon as you can. Cut back on video streaming services, use coupons when you grocery shop, and give up small luxuries so you can instead put your money into your holiday savings. Remember it is just temporary and a way to get the cash you need without going into holiday debt.
4. Go on a spending freeze
Take a one-week spending freeze where you vow not to spend a dime on unnecessary items. If you are feeling brave you can do longer than a week! Start small and work your way up to longer periods of time. This is a great way to freeze mindless spending so you can instead save your cash for holiday gifts.
5. Plan your shopping list out well in advance
Have an idea of how many people you need to shop for. This way you don’t feel like you are saving with no end goal in mind. Having an idea of what your budget will need to be can help you be more realistic about your savings goals.
6. Save your change
Don’t spend your change. Instead, anytime you get coins back at the store add them to a jar. After a month you can cash in and see what you have to put towards holiday spending. Coins add up fast, so don’t spend them, save them! If you don’t want to save all of your change, try saving just quarters.
7. Create a savings chart
Even adults work harder when they have a visual goal. Create a chart in graph form to track your savings. Try to reach a minimum amount each week and colour the chart in as you go. This will be a visual reminder of what you are working towards and can help keep you on track.
Are you inspired to start saving money for your holiday shopping? Consider these 7 ways to start saving for Christmas shopping NOW, and see how easy it can be to get a leg up!