Debt-Free Holiday Spending In September
Fall is approaching fast, and the holiday season is close behind. I have my game plan ready for the holiday season. Do you?
Where has this year gone? The Holiday season can be a stressful time for some families. This once-intimate family event has turned into a nightmare for some of us. Job losses have hit many of us, and some families with jobs are still unsure about the stability of their income. We are all looking for ways to save extra money and enjoy the holiday season with family and friends.
I started using these simple strategies years ago, and they have increased my joy for the holiday season and decreased my stress level during this time of year. The number one rule is to know exactly how much you plan to spend and start early. The early bird catches the worm!
Example: You plan to spend $300 on gifts. That means you need to save $100 per month for three months. Instead of going out to lunch every day for the next 12 weeks, eat twice weekly and have a sack lunch for the other two days. The average daily lunch allowance is $15 per week. Your savings will be $60 monthly and $180 in three months.
Another way to save is to cut back on vending machine use. Go to your favorite grocery or dollar store and buy your drinks, chips, and candy bars in packages instead of individual items. You will save at least $10 per week, for an average of $40 per month or $120 in three months. We now have an extra $300 over 12 weeks.
Consider finding a good movie on Netflix or Hulu for all you movie buffs. You are more than likely to have a monthly subscription that you are paying anyway; going to the movies once a month instead of four gives you an average for a family of four $500 and $600 over three months. I am not saying don’t treat yourself, but look at your spending habits and consider modifications that will let you treat yourself while still meeting your savings goal.
If we plan accordingly, these simple modifications will help us have that extra $300 - $600 in our pocket to enjoy shopping this holiday season. Parents, this is also a great teachable moment to talk to your child/ children about spending habits and the holiday season: the gift of giving and the joy of spending time with the people you love. For decades, we have commercialized the holiday season, and some of us have lost the true meaning of Christmas. This year, consider starting a tradition or returning to one you enjoyed as a child and teaching it to your child/children, such as baking cookies on Christmas Eve or allowing your children to make a traditional fruit bowl. These are memories for us to share with generations to come. Remember, the early bird always catches the worm.
