Saving Tips for the Holidays
We are finally turning the corner to the end of 2018, which means that the holiday season is quickly approaching. Although the holidays are a time to come together and enjoy family, they can also bring up stress when it comes to preparing financially. So, what better time to get ahead and start planning than the present? We are going to give you the scoop on the best practices for saving money so that you can sit back and relax by the time December rolls around.
Track Your Spending
It’s hard to know exactly how much money you will have by the time the holiday season is here, but the sooner you track your spending, the better. Make yourself aware of how much money you spend monthly on bills, and then pay attention to how much money goes into less important expenses (like coffee in the morning or eating out at restaurants). You will be surprised at how quickly it all adds up and can trim your expenses where you see necessary! From there, you will have a clear understanding of just how much you make versus how much you will have saved up to spend on family and friends.
Make a Budget
Once you’ve got an understanding of how much money goes into your monthly expenses, plan a budget for how much you can afford to spend. Make a list of each person you are buying for and sort it by priority (i.e. kids, parents, siblings, cousins etc.). From there, you can allocate your budget on each present based on priority and determine exactly how much money should be set aside and saved for gifts.
It’s never too early to start shopping for the holidays! The earlier you start, the less stressed you’ll be. Start a note in your phone and jot down every time you think of a gift idea for someone you care about. That way, you can start buying now, or at least have a steady grasp on what to buy once you do decide to get up and start shopping (or sit down and shop from the comfort of your home… whatever you’re into!).
Are you saving up for a new home in 2019? I can provide you with a free and accurate mortgage plan based on your unique situation. Reach out today to get started!
Penfield is a lively town, located on the southern tip of Irondequoit Bay and just outside of the City of Rochester. Follow this blog to discover more of what our town has to offer; from great local businesses to awesome events, we'll cover it all!
Courtney Dudek Licensed Real Estate Salesperson
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