It’s almost the greatest time of year again: time for snow, hot chocolate, and giving thanks to one another. But along with the happiness of Christmas comes the stress of having to both save. and spend. Many of us have to buy presents, a Christmas tree, and decorations as well; but how are we expected to do this with no extra cash in our pockets? You don’t have to empty your bank account this holiday! Here are some easy tips on how to save for the upcoming holiday season.
A big part of creating your budget is estimating your monthly income for the months leading up to Christmas. This will allow you to know an estimate of how much money you will have coming in. One way to save this season is to record all your earning and spending in a journal. In this journal, list your incoming paychecks and outgoing expenses. Next, write down the due date and amount of each of your bills. This will help you to understand how much money to keep available for upcoming bills and what you have remaining until your next paycheck. You can also keep track of your spending in this journal. Writing down what you are spending money on each day can show you where the bulk of your cash is going each month. With the knowledge of when your bills are due, you can limit spending the week before. This will allow you to create a cushion so you're not down to your last dollar.
If you are the type to rarely carry cash and always use your card, you know it is very easy to overspend blindly. Then you have the moment of truth when you check your balance for your bank account to see what the damage is. If you frequently experience the anxiety of having to check your account, you may be overspending. But there is a simple solution to this problem: set aside an amount to place into your savings account when you get your paycheck. This will allow you to be sure that you're not spending money that already has a job to do!
By using your card rather than cash, you may be tapping into money that you need later for bills and expenses. Use cash this holiday season. Limit credit card use as much as possible. By having cash in your pocket, you will have a visual of exactly how much money you have, and prevent blindly spending. This will seriously prevent overspending from happening. It is much harder to spend money when you see your pile getting smaller and smaller.
One of the best ways to budget your money this holiday season is to look for sales. Don’t impulsively buy the second that you see something that you need or want. If you find an item that you would like to snag, look online for available sales and coupons. You can even try shopping on big sale says like Black Friday. and Cyber Monday. This will help you save big on items that you need for Christmas.
If saving is not going to cut it, and you just don't have enough money for the purchases you need to make for Christmas, you may want to consider taking out a small loan to cover the essentials like gas and groceries. Title loans are just one way to make the purchases you need for the holidays without letting your monthly expenses tap you out. Find out how title loans could put the extra cash you need for Christmas and the upcoming New Year in your pocket today!