Do you save up capital all year long to buy Christmas presents, or do you wait until the last minute and come up with a budget on the spot? Perhaps you are a person that buys gifts all year long for people so that you’re ready to come to this special holiday. One thing you don’t want to do is end up running late and/or maxing out your credit cards. You want to get people gifts, but you have to budget the money to get those gifts.
When sacrifices need to be made for gift-giving, that’s great. Yet it helps to build up wealth ahead of time if you can of course so that you’re able to get the presents without breaking the bank. Speaking of banks, they like to offer holiday loans to people at lower interest rates, but again, the name of the game here is saving money.
What you could do is have a separate account for gift giving and also tithes and charity. That would help you plan, but you have to decide how far you want to go with the preparation. It’s an idea, but you don’t necessarily need a separate account. You could just keep track of what you’re putting away for Xmas.
Let’s say that you want to set a target goal for Christmas Eve spending at $1k. If you start right after Christmastime each year, then you have 12 months to save towards that goal. You would need to put away $84 dollars a month to come out over the top of that budget. If you overdo it a little, you could be ahead of schedule when it comes to buying anniversary gifts.
If for some reason you miss Christmastime, you will still have a head start on your budget. You can cover the rest much easier if you have a little bit of cash stashed already. Of course, you can also buy presents throughout the year that way if you have cash. Whatever you can get together vs just waiting until right before the festivity is going to help you out.
Many people wait until about October or December and then start trying to buy presents. They find out that they don’t have enough money, so they start charging items. Once Christmas Day is over, they spend the entire year and then some paying back the money. Have you ever been in that boat? You might not be able to right the ship the first time around completely, but you can certainly give it a try.
It’s difficult paying the bills, budgeting and coming up with all the extra bucks you need for Christmas money. But we all have to give it a try. We have to do the best we can and find the right coupons. And it’s so much fun to buy people a souvenir. The real reason for the season, Jesus, is most important. We don’t have to give people gifts, but it is nice. We love people, and it’s fun to buy them Christmas gifts that they want to have.
Read more posts here.