Start Saving For Christmas 2022 Now
The countdown to Christmas is on!
You may be thinking, “Seriously? We are talking about Christmas, it’s only July.”
With it being July that means there is only 5 months until Christmas!
Sure I may sound like a crazy-Christmas-loving-Who, but by planning early you can reduce your stress and hopefully avoid any after season debt.
Plan Ahead
Christmas comes the same time every year, making it easy to set a plan in place, to be prepared. If you love celebrating, take the time to create a budget, find out who’s hosting, a menu plan, and start thinking of gift ideas now.
Set a Budget
All you need to do is determine a realistic amount that you are willing to spend this Christmas season and divide by the upcoming days, weeks, or months.
It may help to break down that number into categories such as food, decor, gifts, gift wrapping, and travel costs.
Once you have a goal to work towards and a number that works with your budget, you can choose the best savings method for you.
Things to Consider When Making Your Christmas Budget
- Will you be hosting this year?
- Do you need to save money for travelling to see family and friends (especially with gas prices as of late)
- How many people do you need to feed/ buy gifts for?
- Would a Secret Santa/ White Elephant be more cost effective for your family or friend group this year?
- Can an experience replace gifts for certain people this year?
- Homemade baked goods are my favourite way to cut costs (who doesn’t love homemade cookies 🍪?)
- If you are crafty, make a gift.
- Can you reuse decor from last year?
- Shop the thrift store or dollar store for decor or gifts.
- Shop throughout the year, when you see an item you know someone would love, watch for a good price and buy it. Make sure to keep track in the budget, and hide it somewhere you will be able to find it again later. (I also keep a gift stash list to help me when shopping)
- Can you earn cashback rewards or gift cards to help pay for Christmas?
⭐️ Remember Christmas is not all about the gifts or going over the top on decor, so relax and enjoy the season.
Set Money Aside
Automatic Payments
Set up an additional savings account (even label it Christmas) and automate a pre-determined amount each month to set aside.
The key is to only use it for purchases related to Christmas (this includes, food, decor and gifts).
Start today, you can even start right after Christmas for next year, this will allow you more funds when Christmas rolls around.
Digital Not For You?
If you have the will power, try stashing your Christmas cash in an envelope.
I have also heard of people saving their spare change and using that for Christmas shopping as well.
Example amounts to save per month, and where you will be by December
- $20/ month = $100 by December
- $30/ month = $150
- $40/ month = $200
- $50/ month = $250
- $100/ month = $500
- $200/ month = $1000
My budget for Christmas this year is at $500, this includes eating out, hosting a small pot-luck style dinner, and gifts. It can be tight, but I have switched to making cookies the main part of all my gifts.
Now that you have a plan and know what to save for Christmas, I hope it will be less stressful and you feel empowered this season!
Let me know how much you usually spend on Christmas, down below in the comments.
Stay Frugal,
