Holiday Savings…Yes, You Should Start Now!

Hopefully you read our last blog (if not, go back and do it now!) on holiday budgeting. Today we move on to the second (and harder) part…holiday savings. It can be hard to find and put away that “extra” money during the year, but the relief will come when the holidays are approaching and you are prepared (or partially prepared).

One thing that is important to keep in mind, is the pressure on everyone around the holidays. This includes pressure to buy the right and the best gifts and pressure to show up to parties. For some this comes easy and is fun, but for you it may be hard. If you are struggling with buying what you need need to, take comfort in the fact that it isn’t a measure of your worth. It also isn’t a measure of the value you add to a celebration. There have been years that I could go all out for my family and friends. In contrast, there were years where my presence was all I had to offer. Although one may seem more fun than the other, it truly isn’t what the season is all about.

 

Here Are A Few Simple Ways To Increase Or Start Your Holiday Savings:

• That’s right folks, save your change for your holiday savings account. You may think this is an insignificant idea depending on how big your holiday budget is. But honestly, it really can help! My husband and I have a jar we fill and each time it is about $100. Make an effort to pay in cash more often, and watch what happens when you value and save your coins. Money is money!
• Direct deposit a percentage or small dollar amount from each check into a separate account. Many companies offer this and it is a really easy way to save a little off the top. The real trick is pretending that it isn’t there so it stays put until the holidays. Most companies will allow you to do as little $10 per paycheck or 5% of the amount of your paycheck diverted to a separate savings account.
• Make a point to sell a few things each month. It may sound silly, but most of us have things we don’t need or could share with others. You could even donate plasma (yes, they pay you for that)! Other examples include, consigning clothes you don’t wear often at the beginning of each season or holding a spring and a fall garage sale. One more example is putting purses or electronics on eBay or other resale sites that you don’t always use. There are possibilities all around to make money, you may just have to search outside the box to find them!