Hi yall, new member here… When do you all begin to plan/budget for Christmas??<️
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I plan/budget year round. I put aside an amount with every paycheck and then use it for the holidays.
Welcome to PH @karinna!
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I am lucky that I never need to plan for Christmas, all I ever do seeing as my children are all adults, is ask them will a check be good enough and they reply back, Dad you don’t need to spend your money on us, I say are you sure, they say yes Dad we’re sure, then I say that is fine by me. That has worked for me for the past 12 years now.
P.S., I am normally at work during that time of the year.
Welcome to PH.
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Welcome @karinna! I also have an account that I contribute a small amount to each month for gifts. I use the money for Christmas gifts, birthdays, Mother’s Day, etc.
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Now that I am retired and no longer have a Christmas Club through work, I just put aside the same amount of money (less than what I used to when employed). The kids are all grown and we wish each other a Merry Christmas and send an online card, no need for gifts. I have enough to do a special project around the house, take a short vacation trip or use in case of an emergency. The saving are Nov to Nov.
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I have a Smarty Pig account. I currently have three goal accounts. I make a monthly contribution and the money gets divided up as per your direction. Every November, when the Christmas account is funded with my goal, I receive a deposit into my regular bank account. I have another for grandchildren’s college and another for vacation. You choose your goal amount and when it’s reached you get the money. You can always withdraw sooner if you need to. Oh, and you get interest!!!
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i started already i build up all my amazon rewards and in September i order the gifts for the great grandchildren, all done for them, the older ones i give money , but i take out so much from each pay check, so i have it all by Christams
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Including it in a weekly or monthly budget, year round works best.
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Welcome, @karinna! I usually budget for gifts/holidays year round, but I tend to think specifically about Christmas gifts around late August or early September. I’ll even start buying gifts early as I come across different things rather than saving up a certain amount and then doing the shopping.
(Here’s a helpful article that’s about saving for Christmas!)
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I start preparing for Christmas at the start of the “BER” months and your first priority should be the budget so you wouldn’t get overwhelmed by December comes.
I start saving money every September!
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I do the Christmas Club year round with my credit union. No interest, but I like seeing the deposit roll over to my checking account in early November.
I pay into my 401K for the first ten months of the year and then in November and December, I get a full paycheck to pay for the holidays. A great way to work the system so you have extra cash at the end of the year.
These are all such great suggestions!. Back in the day when I really shopped for Christmas gifts, I saved money monthly as a Christmas Club member. Whatever was in the account around the end of the November was used to buy gifts. Now, I buy fewer gifts and use my Amazon gift card balance.
I have a savings account at Smarty Pig. You can have a certain amount withdrawn from your checking account every month and divide it between different goals. I set money aside for Christmas and college for grandkids. When the goal is reached, you have the money transferred back to your checking account. SmartyPig.com
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