10 Ways To Prepare NOW Financially For The Holidays!

**10 Things You Can Do To Prepare NOW Financially for The Holidays So You Don’t Feel The Pinch At The End Of The Year**

Have you thought about how you can prepare now financially for the holidays, no matter how close or far off they are?

People often talk about how suffocating the holidays can be financially at the end of the year. It’s the time of the year when you’re looking back at all the holiday events you booked and the get-togethers you spent with family and friends last Christmas and New Year and you’re wondering whether you can bear the months of eating Ramen so you can pay for all the expenses you incurred only to turn around and do it all again. These 10 Ways To Prepare NOW Financially For The Holidays will help!

Holidays cost money, many times much more money than we can actually afford. But, it’s never a good idea to get into serious debt for any holiday.

Don’t let yourself get too down in the dumps about it, though, because there are ways of keeping yourself from feeling the holiday pinch at the end of the year!

Set Your Own Rules

You don’t have to do the things that other people are doing during the holidays. Change things up and focus on having memorable, enjoyable experiences rather than giving extravagant gifts.

Your goal is to thrive and be happy during the holidays, to make memories and enjoy the people you love. The goal is not to see how much debt you can get in year after year buying gifts you really can’t afford.

A few months before the holidays, create your own gift list. Decide how much you want and can spend on each person. Or keep a list of what you would like to purchase for each person on your list and throughout the year as you run across these things and they are a good deal and you have the finances to do it, then do it. Remember Mom having presents hiding away in a closet all year? That’s how she did it… if it worked for Mom… 🙂

If you have children, you should prioritize them first.
When you have an extended family, instead of giving them gifts one by one, suggest a Secret Santa instead.
If you don’t have a lot to spend on gifts, give the gift of time. Take your parents out to dinner or spend time watching a movie at home with them You know they really only want to spend time with you, right? They don’t really want anything but you). Babysit your nieces and nephews so your siblings can have a night out without having to pay for a sitter.

Open A Holiday Savings Account

It’s easier to save up for your holiday budget by setting up a separate savings account.

Open a second savings account with your bank or if they allow you, you can create a sub-savings account on your online banking for your holiday purchases.

Creating a separate savings account allows you to automate your savings contributions, so, it’s easier for you to meet your holiday budget.

Capital One 360 has a free online account. No fees, at all, and you can set it up online in minutes and have a card sent to you in a few days.

Place A Hold On Luxury Spending

Do you really need to buy that new bag or pair of shoes?

Is it necessary to grab a coffee from Starbucks? Maybe cut back once or twice a week and put your coffee money in your new account. I, personally, buy Starbucks bagged coffee for home and they come with Starbucks Rewards that add up to money I can have on my Starbucks card and spend for coffees at the store.

Look at the discretionary expenses in your budget. Shift those funds to your holiday budget instead. Again, you’ll be happy when the time comes that you took the time to prepare now financially for the holidays.

You can cut down the money you’re spending on dining out, entertainment, clothing, and other extras. You can save a few hundred to thousands of dollars and you’ll be surprised at the money you’ll have in time for the holidays.

Fly Strategically

Are you flying home for the holidays?

Instead of booking your flights on the weekends, book your flights on a Tuesday, Wednesday or Saturday!

According to FareCompare, these days are the cheapest days to fly.

You should also consider flying late night or very early in the morning. Since most travelers don’t want to fly past their bedtime or at the crack of dawn, flights during these times are cheaper than those during normal business hours. Just keep in mind as you plan these things, that at the end of the year it will be worth it when you’re not stressed about the cost because you took the time to prepare now financially for the holidays.

Host Potlucks

Hosting a holiday dinner can put a hole to your pocket. It can add up quickly on your grocery bill. Keep the food costs low by encouraging your friends to have a holiday potluck dinner.

Ask your family members or friends to bring their favorite dishes, desserts, pastries, and drinks. You can also have a themed dinner party and prepare food and drinks that best fit your theme.

You Might Also Like: 7 Ideas For Hosting A Theme Party! PLUS Free Printable Party Planner List!

By hosting a holiday potluck, you are not only saving more money, but, you’re also encouraging your loved ones to share what they love.

You might also like: How To Recover Financially From The Holidays!

Use Your Credit Card Rewards

Review the rewards from your credit card and store rewards. You can pay for your gifts by using your points or redeem your points for gift cards and other merchandise.

If you have a credit card with grocery rewards, you can use it to buy gift cards at the grocery store.

You can also consider getting a balance transfer credit card with a zero percent introductory APR in January, if you have a good credit. You can pay your debt with zero interest for a period of time.

Organize A Exchange Gift Event

When you buy something for everyone you know, you’ll easily overspend! Buying for everyone spreads your resources thin and your credit card debt thick.

Instead of giving gifts to everyone, arrange a exchange gift event with your family and friends. Draw a name out of a box and buy a gift for that person.

Organizing a gift exchange event allows you to give a more thoughtful gift for that person. It also reduces the amount you spend on gifts. Plus, it’s exciting to wait for your own gift from your own Secret Santa!

Shop Online

Before you go to the mall to purchase your gifts, check out online shops first.

Look at the prices online and see if making an online purchase can save you more time and money.

A lot of online stores have free shipping and provide online-only discounts. It also lets you save money on gas and time spent driving to and from the store.

Buy Early

Set a goal to finish shopping at least two to three weeks before the holidays arrive.

Wrapping your gifts as soon as you buy them limits you from being tempted to add a little extra after.

Shopping earlier keeps your spending under control. It also makes your holidays more relaxing and enjoyable too.

Start A Side Gig

If you’re strapped for cash, try and start a side gig to earn extra cash.

You can help people tidy up their homes before the holidays. Market your service helping people to get organized. You can also offer to babysit for parents while they shop. You can also help busy parents who don’t have time to shop and run errands for them. It’s not hard to think a little outside the box to help you prepare now financially for the holidays. You’ll be happy you did!

You might also like: 12 Ways To Make Extra Money On The Side!

The holidays are the most wonderful, yet, the most expensive time of the year. Making some simple, but, important changes to your habits will ensure that you can enjoy your Christmas and New Year without feeling the holiday pinch at the end of the year.

What are your tips to prepare financially for the holidays?

How To Recover Financially From The Holidays!

by Dian Leave a Comment

Overspent This Holiday Season? How To Recover Financially From The Holidays!

Did you just pile up a ton of holiday debt? Paying off debt can be daunting. However with a great budget planner & these tips you'll be out of debt in no time.

With the holidays behind us, you might notice that your wallet is thinner than it usually is or you have a pile of holiday debt. The holidays are a wonderful time with family and friends and sometimes we just get caught up in holiday overspending. But, overspending can put a huge hole in your finances for months to come. Some people overspend during the holidays and don’t truly recover until they get their tax refund. Or they spend months paying off debt from the holidays.

The post-holiday financial stress is something that you can either run away from or you can face head-on. Dealing with the aftermath of the holidays as well as your poor financial decisions can be stressful, difficult, and time-consuming. However, if you deal with it sooner, rather than later, you can make an immediate recovery.

The sooner you work on paying off the holiday financial aftermath, whether it’s a small or not-so-small pile of debt, the less damage it will do to your finances.

Here is a step-by-step approach on how you can recover financially from the happiest, yet, most expensive time of the year.

Assess Your Current Financial Situation

Before you make any move, it’s important to examine your entire financial situation first. This includes your monthly budget, as well as your short and long-term financial goals.

Make a list of how much you spent over the holidays, all your debts, their due dates, minimum and maximum payment amounts, interest rates, and the timeframe in which you would like to clear your debt. Include how much money you have in your savings accounts and how many credit cards you are using.

Create A Plan And Stick To It

Creating an action plan is another obstacle. Despite the fact that creating a budget is one of the easiest and fastest ways to track your finances, the majority of people in the United States just don’t do it.

If you are looking to dig out of the hole that the holidays made to your finances, the first thing you should do is to create a budget that outlines your monthly finances. Having a budget planner will not only help you manage your money, but, it also helps you figure out how much you can afford to repay your debt every month.

Check this out: 6 Ways To Start A Successful Budget Plan! With FREE Printables and/or Spreadsheet!

Creating a budget does not need to be complicated! You need to make a list of your recurring expenses, including any one-time bills. Compare your total expenses to the amount of money that you take home every month. If you find that your budget is completely maxed out, then you’ll need to spend less on other items to free up some cash to pay your debt.

Select A Payment Strategy That Works For You And The Family

Consider paying off the credit cars that have the highest interest rates first and work your way down the list. Always pay on time and pay more than the minimum payment, if at all possible.

Cut Some Expenses

Remember your monthly budget? If it does not give you enough room for your savings, you need to think about cutting down some expenses to pay your debt. You may slash a couple of smaller expenses or reduce the major expense in your transportation, housing or food.

How will you choose which expenses to cut to pay off your debt quickly? It really depends on your lifestyle. If giving up your weekend entertainment, morning coffee or sandwiches for lunch will result in misery (and eventually, retail therapy), you might consider downsizing your apartment instead. Or if you live in a spacious home or have a car to go to work, you may cut back on leisure and store-bought lunches.

The key here is to free up more cash from your budget to pay off your debt. Eventually, once you paid all your debt, you can use the extra money to add to your emergency funds.

Get A Side Hustle

If you don’t have enough wiggle room on your budget or you want to immediately pay your debt, getting a side hustle is a great solution to end your debt problem.

If you are willing to work on a second job, you will get extra money to pay off your bills. Believe it or not, out of 44 Million Americans who have a side gig, more than one-third of them are bringing home at least $500 a month!

You might like this: 12 Ways To Make Extra Money On The Side!

Return What You Don’t Want Or Need

You might have plenty of holiday gifts that are just sitting around — these include gifts that you don’t want or need.

If you still have the receipts, return them. You may either get cash in exchange or if you can get store credits.

Sell Them

Maybe you received a lot of things during the holiday season — even if you already have them or you don’t know where to use them. You may sell some of it, either online or by holding a garage sale.

The extra cash that you get from selling that tablet can pay down your mountain of debt.

Check Out This Article: 10 Yard Sale Hacks That Everyone Needs to Know!

Stop Spending Frivolously

It may sound simple, but, stopping any frivolous spending can help a lot. Take a financial diet and try not to spend money on other non-essential items until you pay off all the extra debt you incurred during the holidays.

Cut back on your daily expenses by doing your own nails instead of going to the salon. Carpool to work to save on gas. You can also take your lunch to work or make your coffee at home.

Take advantage of free leisure activities. Instead of buying a movie ticket or going out for dinner, go to the park or visit a free museum or art exhibit. You might also organize a potluck dinner with your friends.

Together with these changes, you may save a total of $5,000 savings in a year.

Proactively Save For Your Holiday Shopping This Year

It is never too early to start saving for the upcoming holiday season. Start a holiday shopping budget and set aside money for it. If you put at least $100 every month, you will have more than $1000 you can put on gifts or travel.

No one wants to start the new year in debt. By following these guides, you will have a cleaner and better 2019.

Holiday Shopping: 7 Tips To Reduce Spending!

by Dian Leave a Comment

7 Holiday Shopping Tips To Reduce Overspending!

The holidays are definitely something we look forward to each year and a great memory of years past. However, they can also be very stressful. It may be the season of giving, but, for many people it may mean the season of spending! So many spend so much on the holidays it takes 3 months or more to recover financially each year. That causes a great deal of stress and strain on a family – only to turn around and do it again in 9 months.

Every year people ask me these questions:

In this post Holiday Shopping: 7 Tips To Reduce Spending, we will answer all of these questions.

Have you ever dreamed of making it through the holidays without spending a fortune? lol Well, it is absolutely possible!

Here are 7 tips on how you can alleviate the stress and financial burden of the holidays!

Set A Limit

One of the best things you can do to make your holidays less stressful is to create and stick to your holiday budget. Give your credit card and your mind a holiday by limiting what you will buy during the holidays.

Create a working budget and use it to decide how much you can afford to spend. Make a list of all the expenses that you’ll have. This includes gifts you need to buy, traveling expenses, decorations, and food. This will give you an idea of what you need to cover.

Assign a budget to each gift recipient. Many offices and friends exchange gifts and they set limits on how much you can spend per gift. You can do the same with your own budget. Set aside the total amount you want to spend on gifts and then break it down per recipient. If you find a great deal, you might even save some money!

Assign To Each Category

Divide your budget into the different categories that you have. Assign a specific amount for gifts, food, travel expenses, and more.

Making sure you know how much you have to spend on decorations, food, an so forth will help you stick to you budget and remove all the stress from how much you’re spending. You decide which categories have more budget and which have less and it will make it much easier when shopping.

Price Check With Your Phone

We all know that the gifts we buy are the majority of our holiday spending.

If you find a gift that is over your intended budget, use your phone and check if there is a better price elsewhere. A lot of stores are offering price-match polices if you find a better deal than what they have.

I love to use Earny, too. Earny is FREE and it keeps an eye on what you’ve purchased online and makes sure to alert you and send a request to the store for a refund if a price drops! I LOVE it! I make money back EVERY month with Earny and the holidays are the perfect time to give it a try!

How does Earny work?

Earny is your personal assistant who automatically gets you money back on almost every item you buy. Earny finds better prices on items you’ve bought and gets you back the difference.
His mission is to give you the confidence to purchase wherever and whenever you want, knowing you will never overpay for an item.

Earny has a PHD in comparative pricing. He starts by collecting electronic receipts from your inbox and finds out what you’ve purchased. Then he continuously monitors those prices everywhere else online. When he finds a better price, he goes to work, claiming the difference on your behalf. He will never let you down!

So, all you do is shop online as you normally would and Earny watches your email receipts and tracks what you purchased. Sign up for FREE now <– Click here.

Also Read: Start Couponing In 4 Easy Steps!

Become A Coupon And Coupon Code Collector

Sales are not the only way to get the best deals during the holidays — you can also save money using coupons.

Before you shop, search for coupon deals at your favorite local store. Comb through the coupons you received in your mailbox, newspaper, magazines, email, and you can also check our coupon database and/or our Search for Deals feature where you can find a deal on almost anything! Just enter the brand you’re looking for or an item, like Milk or like Borden Milk (either way) it will show you where that item is on sale and what coupons you can use to get the best deals.

Don’t forget to use all the FREE apps to help you get money back, too!

Stop Procrastinating

One of the best ways to avoid overspending is to NOT wait until the last minute and buy everything in a rush.

Not only are you most likely to overspend, shopping during the holiday rush will also make you feel stressed and make you spend more in a hurry to get out of there — even if it is over your budget.

Consider Making Gifts

Making your own gifts is great way to save while creating something that will be memorable.

Although homemade gifts may not work for everyone on your list, they are good options for some. You can give framed photos to your parents and grandparents, cookies for your friends and neighbors, and soap and body scrubs to your girlfriends!

Use Cash

Do yourself a big favor and stick to paying only cash. Using your credit card when purchasing your holiday needs is an easy way to overspend.

Paying in cash can help you stick to your budget during the holidays. It is also a great strategy if you are working on a limited budget and you are shopping at a store. Just split your budget into envelopes and only take the envelope you need. When shopping for decorations, only take the decorations envelope, and so forth.

Sticking to a budget will help you enjoy the holidays more with less stress about finances and time! Spend time with your family and friends, base your gifts on sentiments rather than price, and avoid giving yourself a huge debt to pay off in the coming months by sticking to a specific price range.

Do you have other tips on how we can save more money this holiday season?

GSFF Gardening Shopping Finance Family

Here at GSFF we focus on Gardening, Shopping, Finance, and Family. We share tips, tricks for anything from growing your own food to living well on less money.