TIP: It’s March! Time to get ready for Christmas, right? Start saving for Christmas gifts now so you don’t blow your December budget.
The holiday season is still several months away but planning now for gift giving can help alleviate the post-holiday money blues. A simple solution is to look over your bank records or make a simple estimation of how much you spent on gifts last Christmas. Then, divide that number by the number of months you have left to save. Since it’s already March, we only have 10 months to prepare! Open a separate savings account and each month, transfer a portion of your holiday expense to that account. Here’s an example:
Paula spent approximately $500 on Christmas gifts last year.
$500 / 10 months = $50
Paula should save $50 per month in order to have $500 in time for Christmas!
The Believe website offers some helpful resources about preparing for the holidays. Don’t wait, now is the time to prepare!
