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Although most parents do not want to acknowledge it yet, the holidays are here. Therefore, it is important to start thinking about ways to put aside money for Christmas gifts, and you should also put together a strategy for reducing your overall expenses. By taking the time to work on this plan now, you can have a successful holiday season that is not filled with a lot of stress.
1. Open A Special Savings Account
Putting aside money for the holidays is always a good idea in theory, but it can be a difficult thing to actually put into practice. However, you can make it much easier to save money by opening a savings account that is dedicated to Christmas shopping. Once this account is in place, you can get a specific dollar amount put into it automatically each time you get paid.
2. Shop Online
Buying Christmas presents online is usually less expensive than going to a brick and mortar location, and it is also much faster and easier. Additionally, you will be able to find a much better selection, and items that are created specifically for Christmas are available all year to help people start their holiday shopping early.
3. Make A Realistic Budget
Although you might want to buy everything on your child's wish list, this is not going to be realistic for most people. Instead, you need to look at your household expenses and determine how much you can realistically spend on each person if you start shopping now. By sticking to your budget, you will be able to provide your family with a nice Christmas without worrying about how you are going to pay your bills in January.
4. Do Black Friday From Home
Shopping online is always an easier way to get Christmas gifts, but it is imperative for budget-conscious parents who do not want to subject their children to the long and crazy hours that are associated with Black Friday. Instead, you can participate in this annual day of retail savings by visiting the websites of your favorite stores. If you do not find everything you need on Black Friday, you should check out the top Internet retailers on Cyber Monday to fill in the gaps.
5. Cut Back On Items That Are Not Necessities
If your budget is razor-thin, you might need to cut out some items in order to give your children a memorable Christmas. For example, if you indulge in a latte on payday, you should skip it and put that $5 aside. If you do this several times, you will be able to save up enough money to buy some nice gifts.
Being proactive is the best way to handle the holiday season. After all, there are always other things that you will need to spend money on, but if you do not put a savings plan in place, you will end up incurring a lot of debt to put gifts under the tree.
Krystle Cook – the creator of Home Jobs by MOM – put her psychology degree on a shelf and dived into a pile of diapers and dishes instead. She is a wife and mother to two rambunctious boys, sweating it out in her Texas hometown. She loves cooking, DIY home projects, and family fun activities.
I used to have to put Christmas purchases on credit cards since we had no extra money to use. A couple of years ago I made a decision to not buy it if I didnt have the money for it, even if it meant people didnt get presents or get as nice presents. I use Swagbucks to get giftcards to spend on Christmas and that is where the majority of my Christmas money comes from.
Great suggestions! It’s almost entertaining to see people scurrying around at the last minute shopping for a holiday that comes at the same time every year! I do love the ability to do online shopping and taking advantage of sales right after Christmas. I try to accumulate things all year long for those I’m buying gifts for. Thanks for your tips!
Great post Krystle!! The tips that you have in here work not just for saving for holiday shopping, but year round as well. Needs vs. wants is an excellent topic, plus you are demonstrating the results of your actions for your kids to emulate as they get older! Excellent example of being a great role model!
As the parent of two high schoolers, one of whom will leave for college next fall, I love the content here!
This makes me so happy. My husband and I stopped being so Christmas gift concerned and do our best to “gift” people through the year as we can. It really takes the pressure off and somehow our family loves it. We still celebrate Christmas and number 2 for me, is so valuable. I have never liked the shopping crowd experience.
FYI I for some reason can only comment on your blog on fire fox and my computer is at the shop so I’m using my husband’s. Once I get my computer back I will comment 🙂
Some very helpful advice here. I saw an ad the other day about Christmas “sneaking up on you” and indeed it does. When you have little ones, it must be overwhelming and easy to go over budget on gifts. Fortunately, there are many fabulous bargains to be had online, which makes it easier to stay organized and track your spending1
Yep, I always do my research before for making the final purchase and it does help. Although stores like to throw in those last minute deals which make me mad sometimes.
When I first read Christmas – in September – I thought Nooooooo. But now looking at your tips – it is best to start now, particularly saving if you haven’t done so already. Also, I find many stores try to clean out their inventory this time of year to get ready for Christmas product. You may find some excellent deals on some clearance items. This is the first year we have our Christmas gifts for our kids already but it was an incredible bargain – I suppose to prepare and to save starting Christmas early is not such a bad thing 🙂
These are great tips for Christmas shopping. The only thing that can be hard is the “shipping” charge associated with online shopping. I love the idea of setting aside your latte and saving the money. 🙂
I’m all about Cyber Monday. The crowds on Black Friday are too intense! These are all great tips, but the one I most believe in is putting a little extra aside in savings. A little here and there really does add up.
I was just talking about this today with a friend. It seems like we just celebrated Christmas 2 months ago lol. Time goes by so fast. You tips are perfect! I have used most of them for years and they really do help. Now that my children are older I asked them what is it that they really want and that is what they get. I’m big on birthdays so that is where I like to go all out.
I know. Time really flies especially when kids are involved. I try to do the asking thing but a lot of the time I get I don’t know. I like to take them around a store and see what they are interested in since they are still pretty young.
I start my Christmas shopping straight after Christmas by getting some things via a Christmas Hamper Company……eg Hamper King or Chrisco. I also buy things during the year that I see in stores on clearance racks and add them to my gift box which is a large cardboard box under my bed. In December it is empty by August it is over flowing and I am looking for some other place to store stuff. I do Christmas toy laybys in July that is when you layby and have till December to pay it off and get it out. I also have a Christmas savings account which I put money into through the year.
I usually start in October getting ideas for Christmas and perhaps buying gifts during the year if I am sure they will still like it by December. My husband usually gets an extra pay check near Christmas so we typically save that for Christmas presents.
This was an awesome post, Melanie. It drives me nuts to see folks in a panic at the last minute at Christmas time for shopping. And it’s both sexes who proscratinate. I listen to suggestions very incognito all during the year. Then I will slowly put together my list. One thing I will not do is buy a ton of gifts for children. The reason for that is many of them getting played with for one minute or not at all. I would much rather give a child a gift that will be remembered and used. And if it’s a toddler then I will give the parents a gift certificate for something that will be used wisely. Or cash so that can buy a Savings Bond or an investment for later on. Those are my favorites for kids. Absolutely love your suggestions and I hope folks get on the ball sooner rather than later 🙂
I agree. Kids can be hit or miss with gifts but I can’t get my own children nothing. I think this year will be lighter than last year though. I don’t feel like that really need too much. My grandma loved giving me savings bonds as a kid. I think I ended up buying a dog in high school with them. I wish I would of saved them longer but my mother didn’t encourage me to do so.
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Raspberry Pomegranate Mocktail #momsmeet
I used to have to put Christmas purchases on credit cards since we had no extra money to use. A couple of years ago I made a decision to not buy it if I didnt have the money for it, even if it meant people didnt get presents or get as nice presents. I use Swagbucks to get giftcards to spend on Christmas and that is where the majority of my Christmas money comes from.
Nice. I need to try swagbucks sometime. I hear a lot of people like it.
Great suggestions! It’s almost entertaining to see people scurrying around at the last minute shopping for a holiday that comes at the same time every year! I do love the ability to do online shopping and taking advantage of sales right after Christmas. I try to accumulate things all year long for those I’m buying gifts for. Thanks for your tips!
I like doing gifts through out the year too but it depemds on the person and if they will still like it by Dec.
Great post Krystle!! The tips that you have in here work not just for saving for holiday shopping, but year round as well. Needs vs. wants is an excellent topic, plus you are demonstrating the results of your actions for your kids to emulate as they get older! Excellent example of being a great role model!
As the parent of two high schoolers, one of whom will leave for college next fall, I love the content here!
Thank you for sharing!!
Thanks Mark! Yes, we all need to really analyze the needs vs. wants more often. I’m sure we would all have a lot more money if we did.
This makes me so happy. My husband and I stopped being so Christmas gift concerned and do our best to “gift” people through the year as we can. It really takes the pressure off and somehow our family loves it. We still celebrate Christmas and number 2 for me, is so valuable. I have never liked the shopping crowd experience.
Thanks for introducing us to Melanie, Krystle.
Over from LinkedIn group BHB
That’s a nice way to do it. It spreads the expense too which is great!
FYI I for some reason can only comment on your blog on fire fox and my computer is at the shop so I’m using my husband’s. Once I get my computer back I will comment 🙂
Some very helpful advice here. I saw an ad the other day about Christmas “sneaking up on you” and indeed it does. When you have little ones, it must be overwhelming and easy to go over budget on gifts. Fortunately, there are many fabulous bargains to be had online, which makes it easier to stay organized and track your spending1
Yep, I always do my research before for making the final purchase and it does help. Although stores like to throw in those last minute deals which make me mad sometimes.
These are some cool tips. Numbers 2 & 4 are me this year. Almost all of my shopping will be done online.
I have done a lot of Christmas shopping online in the past. I think this year will be no different 🙂
We pretty much wait until the last minute since we have to wait until I get my bonus.
We do that with some of our gifts too since Nov. is a 3 pay check month.
When I first read Christmas – in September – I thought Nooooooo. But now looking at your tips – it is best to start now, particularly saving if you haven’t done so already. Also, I find many stores try to clean out their inventory this time of year to get ready for Christmas product. You may find some excellent deals on some clearance items. This is the first year we have our Christmas gifts for our kids already but it was an incredible bargain – I suppose to prepare and to save starting Christmas early is not such a bad thing 🙂
Yes, it def helps to save early for Christmas. It helps so you don’t have one big expense it one shot.
There is nothing I admire more that a well organized person! This is a great plan and thanks for sharing it.
I love being organized when I can. Planning is my friend 🙂
These are great tips for Christmas shopping. The only thing that can be hard is the “shipping” charge associated with online shopping. I love the idea of setting aside your latte and saving the money. 🙂
During the holiday time there are always free shipping deals going on. I like amazon and ebay because you can usually get free shipping.
I’m all about Cyber Monday. The crowds on Black Friday are too intense! These are all great tips, but the one I most believe in is putting a little extra aside in savings. A little here and there really does add up.
I’ve never done cyber Monday much. Do you really get good deals?
I was just talking about this today with a friend. It seems like we just celebrated Christmas 2 months ago lol. Time goes by so fast. You tips are perfect! I have used most of them for years and they really do help. Now that my children are older I asked them what is it that they really want and that is what they get. I’m big on birthdays so that is where I like to go all out.
I know. Time really flies especially when kids are involved. I try to do the asking thing but a lot of the time I get I don’t know. I like to take them around a store and see what they are interested in since they are still pretty young.
I start my Christmas shopping straight after Christmas by getting some things via a Christmas Hamper Company……eg Hamper King or Chrisco. I also buy things during the year that I see in stores on clearance racks and add them to my gift box which is a large cardboard box under my bed. In December it is empty by August it is over flowing and I am looking for some other place to store stuff. I do Christmas toy laybys in July that is when you layby and have till December to pay it off and get it out. I also have a Christmas savings account which I put money into through the year.
I usually start in October getting ideas for Christmas and perhaps buying gifts during the year if I am sure they will still like it by December. My husband usually gets an extra pay check near Christmas so we typically save that for Christmas presents.
This was an awesome post, Melanie. It drives me nuts to see folks in a panic at the last minute at Christmas time for shopping. And it’s both sexes who proscratinate. I listen to suggestions very incognito all during the year. Then I will slowly put together my list. One thing I will not do is buy a ton of gifts for children. The reason for that is many of them getting played with for one minute or not at all. I would much rather give a child a gift that will be remembered and used. And if it’s a toddler then I will give the parents a gift certificate for something that will be used wisely. Or cash so that can buy a Savings Bond or an investment for later on. Those are my favorites for kids. Absolutely love your suggestions and I hope folks get on the ball sooner rather than later 🙂
I agree. Kids can be hit or miss with gifts but I can’t get my own children nothing. I think this year will be lighter than last year though. I don’t feel like that really need too much. My grandma loved giving me savings bonds as a kid. I think I ended up buying a dog in high school with them. I wish I would of saved them longer but my mother didn’t encourage me to do so.