Labor Day is in a few days and before you know it, the holiday season will be upon us. Whether you plan on using your savings to buy gifts, traveling to visit family, or hosting a special holiday dinner, the holidays always come with a number of expenses. That’s why it’s never too early to start saving up for the holidays.
Here are some tips to help you get ready for the holiday season:
- Start shopping for Christmas presents early. That way you can find the best deals and spread out your spending over time. If layaway is available, pay for presents a little at a time.
- Use a rewards credit card to earn cash back while you make your holiday purchases.
- At the end of the holiday season, stock up on seasonal decorations and other seasonal items when they go into deep clearance.
- Before the holidays get here, sit down and create a budget for your holiday spending. Look at your current budget and figure out where you can save in order to put that money towards holiday costs.
- Santa doesn’t have to be the only person making a list this holiday season. Make a list of the people you want to buy for and compare this to the budget you created for your holiday spending. Stick to your list and don’t be tempted by items that you didn’t budget for.
- When the new year rolls around, start setting aside money each month for the holidays. Budget how much you can save each month for your holiday fund and put it in a separate savings account so you aren’t tempted to spend it.
- If you’re planning on hosting family or friends over the dinner, save some time and money by asking guests to bring a side dish or dessert.
As bankruptcy attorneys, we know that it’s never too early to start planning for your financial future, whether that’s for upcoming holiday expenses or your children’s college fund. For legal financial advice, give us a call at Craft Law Offices in Greenville, NC.