When it comes to holiday shopping, savings give you power. The old saying is, cash is king when you shop, and that is never more true, than during the holidays. Everyone starts their holiday shopping with the intent of keeping their credit cards free, and clear, of debt. The reality is that it is extremely difficult to save up for the holidays, and not spend more money than you actually have in the bank, Payday Loans Online could help top up those savings you have managed to make.
Here are some steps that you can take to save money, and get ready, for the holiday shopping season.
The biggest aspect of holiday shopping, and saving up for it, is to have a realistic budget. This budget should be established at least six months before you want to start your shopping. You should make a list of every person that you have to buy a gift for. This is going to set you up to assign values to them, so that you can figure out how much money you are going to spend in total. Start coming up with ideas for what you want to buy, and make sure that when you actually go shopping, you do not exceed what you stated you would spend on them, even if the gift changes.
Once you have your budget established, you want to set up what is known as a holiday shopping fund. Open up or use a separate savings account, which you do not have access to with a debit card or other easy access. Using your work direct deposit, figure out how much of your paycheck needs to be placed in this holiday shopping fund, in order to meet your budget. The goal should be to have at least 75% of your budgeted spending amount in the account, by the time you begin the holiday shopping. This will give you an opportunity to have cash for just about everything you buy, with the last 25% coming from your paychecks in the last few months of the year, when you are wrapping up your shopping. The goal, keep the plastic in your pocket!
With your holiday shopping fund in order, and ready to go, you can begin shopping. Start your shopping early, even in the months of June or July. This is going to allow you to spread out your spending. It is far easier on your savings, and your monthly budget, to spend money over a long period of time, rather than cramming it all into a one-month period. Shopping early also gives you the opportunity to keep an eye out for sales, so that you can really take advantage of bargains when they appear
The majority see holiday shopping as a very stressful thing to do. When you plan accordingly though, with a budget in hand, and cash in your pocket, you are going to be able to shop with much more confidence. Knowing you can shop freely, sticking to your budget, without having to be hit with credit card bills in the New Year, is going to really clear your mind, and make the shopping season, that much more enjoyable.