Hi friends! This is my weekly “I work for a bank” lecture (just kidding, it’s the first and hopefully last). OPEN A DANG SAVINGS ACCOUNT FOR HOLIDAY GIFTS. Sorry to shout, but this is important.
- It’s easy. Look. I know not everyone has a ton (or any) extra money to save. Believe me, I get it. But hear me out: if you’re going to buy gifts anyway, that money’s got to come from somewhere. So why suffer during the most joyous time of the year when you could have some extra cash socked away with which to purchase all your tidings? Even if it’s just $5 a month…okay, that’s only $60, but it’s a start! In all seriousness, for the price of a single coffee each week, you’ve practically quadrupled that monthly five dollar investment.
- It eliminates stress. Here’s my own personal example: until a few years ago, I didn’t really plan for the holidays. I’d typically just charge Christmas gifts and spend the first half of the year paying off credit cards. It was so stressful! Every time I’d purchase a gift, it was like a little part of me died. Giving gifts is one of my very favorite things, so something had to give. I decided to put $100 each month in a dedicated holiday savings account, and my life has been better ever since.
- It makes fun life events…well, more fun. Listen, I know $100/month might seem excessive: that comes out to a whopping $1,200 come December. And it may be excessive for you, depending on the amount of people you buy for and the types of gifts you exchange. However! I also allocate some of these funds to buy things such as holiday decor, baking supplies, and gifts for other holidays throughout the year. The amount saved is less important than the fact that funds are being earmarked for the holidays, but if I have any left over I can just roll it over into my general savings (or save up for a spectacular gift for someone the next year).
That’s it! Now come Christmas each year, I’m legitimately stress-free. It’s wonderful. I can enjoy all the eggnog and merriment and what have you ’til the reindeer come home.
Oh, and do I ever.
Ho ho ho, and happy saving!