How to budget for Christmas

By You and Money

Christmas shopping and other holiday season expenses can put a dent in your budget that might take you months to recover from. Here are a few ideas to help you plan for next Christmas – it’s never too early!

  • Open a Christmas savings account so that you save regularly during the year for holiday season expenses.
  • Buy things like Christmas cards, decorations and wrapping paper in January at the post-Christmas Day sales.
  • Take advantage of sales and bargains throughout the year – shop early for the gifts you need to buy.
  • Organise a Kris Kringle, where everyone buys one gift for one other person; that way, you don’t have to buy gifts for everyone on your Christmas list.
  • Give yourself a budget for each gift before you shop (and stick to it).
  • Lay-by gifts or use cash rather than credit cards.

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