Saving for Christmas

I know it’s hard to believe, and probably not something you want to think about right now, but Christmas is only 6 months away. On the one hand, 6 months sounds like a long time. On the other hand, when you are saving up for something, it’s really not that long at all. There are a lot of expenses involved with Christmas and that doesn’t even include the presents.

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Some other things to consider in Christmas spending are: Christmas cards (and the postage to mail them), a Christmas tree, Christmas baking, Christmas parties, and any other special Christmas events you might like to attend. When you add it all up, it’s no wonder the amount you spend might make your head spin.

Thankfully there are ways to avoid the shock that comes with the expenses of Christmas. I will share how important it is to start saving now, and ways to save money on your purchases.

First, you need to figure out how much you usually spend at Christmas time. Then you will be able to see how much you need to save each month. So if your total Christmas spending will be $500 and you start saving in June, you will need to save $83.33 every month. You will have enough to start your Christmas shopping in November.

Easy ways you can save extra money each month for your Christmas spending fund

• Save money with the Ibotta app – Earn cash back on your purchases with the Ibotta app. You can then have the money you earn put in a PayPal account from which you can withdrawal and put in your Christmas fund. You can also put the money you earn towards gift cards that you can use to buy your Christmas presents or give the gift cards as presents. You can downloaded the Ibotta app by clicking on the link below.

• Take surveys – There are different online surveys you can take to earn money or gift cards. My favorite survey companies are Survey Junkie and Survey Savvy. This is something that’s easy to do in your spare time and those points will add up quick and be a nice addition to your Christmas spending fund.

For other ways to earn and save extra money check out my posts:

Creative ways to save money

Apps you can make money from

How to save money buying Christmas presents

• Shop sales for Christmas presents – Stores will start having some great sales around Thanksgiving. In fact, Black Friday, is one of the best days to find deals on some of the items you might be looking for.
• Shop for Christmas presents all year round – If you see something that you think would be perfect for someone on your list earlier in the year, go ahead and buy it and tuck it away for Christmas (especially if it’s on sale). Just be sure to keep a list of who you’ve bought for and don’t hide your gifts in a spot so safe that you forget where they are. 😉
• Draw names for a gift exchange – If you have a large family, instead of buying a gift for every single person, you can exchange names and do a gift exchange. We do this with the adults on my side of the family. We’ve done a few variations of this over the years. Some fun ideas are: a book exchange, a gift card exchange, and the simple name exchange. With the name exchange we also give wish lists for ideas of things we might like. That way you aren’t stuck if you get someone that’s a little harder to buy for.

How to save money on holiday parties

• DIY decor – You don’t need to spend an extravagant amount of money on your party decorations. Your house is probably already decorated for Christmas anyway, so you wouldn’t need to add much. There are so many cute ideas on Pinterest for easy and inexpensive holiday party decorations you can make yourself.
• Do potluck appetizers or dinner – One way to save on food is if you have other people bring an appetizer or side dish. This will not only save you money, but also time and stress about planning everything.
• Have a white elephant gift exchange – Instead of buying a gift for every guest at your party, do a white elephant gift exchange. These type of gift exchanges are a lot of fun and everyone can do gag gifts or you can let everyone know a theme ahead of time.

Other ways to save on your Christmas spending

• Christmas cards – If you send out Christmas photo cards every year, a lot of the card companies will have discounts through Groupon. You can save anywhere from 40 – 60% on large quantities. My favorite company to use is Photo Affections. They have lots of different designs to choose from and they are great quality cards.
• Christmas outings and activities – Not all the activities and celebrations for Christmas have to be expensive. There are many of them that you can do for free. One of my kids’ favorite thing to do is drive around and look at the Christmas lights. We’ve found neighborhoods with some pretty awesome light displays. Other fun Christmas activities you can do are: have a family movie night and watch your favorite Christmas movies, bake and decorate Christmas cookies, make homemade tree decorations. If you do decide to go to a concert or Christmas event, be sure to check on Groupon to see if there are any coupons or discounts.

Are you ready to start saving for Christmas? It’s never too early to start! If you follow even a few of these tips, you will be sure to save some money this Christmas season and your wallet will thank you.