It’s March, so we all know what that means. It’s almost Christmas! Well, maybe not. But even if Christmas is actually nine months away, you should still be thinking about it. A little bit.
The great thing about Christmas is that it’s on the same day every year. This means you can, and should, plan for it. There’s no reason to be caught unprepared when December rolls around. If you want money for gifts, or decorations, or lights, then do this:
Set up a category in your budget called Christmas, and throw some money in there every single month. If you start in January, by the time Thanksgiving is testing your waistband, you’ll have 11 months of savings to draw on.
I also think we should try to focus less on gifts, and more on family, which would decrease just how much you’ll actually need to save for Christmas, but that’s a discussion for another day. How much do you need to save? Easy. How much do you plan to spend? Divide that by twelve. Or if you’re just starting now, divide that by nine.