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How to start saving for Christmas now

2023-05-13T13:00:29+00:00
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Navidad, compras, presupuesto, vacaciones, MundoNOW / Christmas, shopping, budget, holiday, MundoNOW
  • Are you ready to start saving for Christmas?
  • Set a budget and stick to it to afford the best gifts.
  • Discover the best way to increase your Christmas savings.

Start saving for Christmas now! Did you know that, according to statistics, each family in the United States spends close to $900 on gifts? This figure could put the family budget in serious trouble but the good news is that there are ways to prepare ahead of time.

The holidays are still a few months away and perhaps one of the best strategies to stick to your budget is by making a list of potential gifts you want to buy now. Discover the best ways to make your money work!

5. HOW TO SAVE FOR CHRISTMAS? OPEN AN ACCOUNT JUST FOR GIFTS

save for christmas
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To save for Christmas starting now you will need a lot of discipline. It is normal to run into unexpected expenses or to see something you’ve just got to have that isn’t in your budget. Therefore, one way to avoid the temptation to spend extra money is by opening an savings account exclusively for your Christmas gifts.

Many banks allow you to open holiday savings accounts that you can only withdraw money from during November and December. It is important to know the interest rates and penalties associated with early withdrawals but, without a doubt, this is one of the easiest ways to stick to your plan.

4. CUT SOME EXPENSES

christmas expenses
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What are some expenses that you could eliminate, at least for the next six months? As a first step, you can do a quick analysis of your bills, because you could be surprised at the recurring expenses that you have been paying without realizing it! Doing this could save you hundreds of dollars and increase your Christmas budget.

Consider the possibility of saving money by cutting some expenses such as buying coffee ever day, eating at restaurants several times a week, or spending on products or services that you may not use that much, such as cable service or subscriptions to streaming platforms.

3. HAVE A GARAGE SALE

Garage Sale
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Saving for Christmas now is a smart decision that will help you plan your expenses and make more informed financial decisions. One way to generate easy income, and de-clutter at the same time, is by having a garage sale.

Many of us have items that no longer serve a purpose and could be of use to others. A garage sale is not only an opportunity to save, it also helps people who can’t afford to buy things new.

2. GET A TEMPORARY JOB

save for christmas
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According to a survey by Zippia, at least 43% of adults in the United States have a temporary or part-time job. Most do this to help with household expenses, save for a vacation or to add to their savings.

There are many options for temporary work, such as parcel deliveries, pet, baby or house sitting. Selling products on e-commerce platforms, baking, creating content, selling art, and renting out rooms are just some ideas for making extra money.

1. BUY SECOND-HAND

second hand items
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Start saving for Christmas now! When you’ve set a budget and have opened a savings account, it’s easier to stick to the plan and avoid impulse purchases. One tip that could make a difference how much you save for Christmas is to shop at second-hand stores for clothes and other items.

Nobody said it was easy to save, especially for Christmas, but by sticking to these tips you will see how little by little you can reach your goals without having to sacrifice your lifestyle along the way.

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Money
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