Things You'll Need:
- holiday organizer
- receipts
- savings account
-
Step 1
Using a holiday organizer, keep track of who you shop for, how much you spend and save your receipts. You can usually find holiday shopping organizers at craft fairs, dollar stores or Christmas shops. You can also use a simple 1 subject notebook.
-
Step 2
Open a savings account and label it "holiday shopping." I like using ING Direct savings for two reasons: 1) The interest is usually higher 2) You can open multiple sub-accounts and create different nicknames like "Holiday Shopping" or "Vacation."
-
Step 3
Total all your receipts from holiday shopping this year and then divide it by 11 months. This helps you figure out how much you'll have to put away each month to take care of all your shopping next year.
-
Step 4
Wouldn't it be wonderful to: 1)Have saved that money during the year, 2)Use it for all your holiday shopping, 3) Not use credit cards, 4) Not get overloaded with spending and, 5) Have earned interest in the meantime!
Comments
Alisiane said
on 12/23/2008 I always say I'm going to do this, but with no real plan in place I never do. You've provided some good ideas and thoughts to get me started!
Rockster said
on 12/20/2008 This is a great idea. I have been using cash for the last two years. You are so right about the credit cards, they just cause more problems. Avoid opening a new charge account to save 10 percent, this will lower your credit score. which we all know the lower your score the more you pay in interest.
CBPope said
on 12/20/2008 Years ago, I used to have savings in a Christmas Club account just for this purpose.
Jennywrites said
on 12/18/2008 Awesome Article! I started doing this now that you taught me. Cute Cat!
RENorton said
on 12/15/2008 Great idea! It always helps to be prepared, and to get your budget set now. Thanks!