Prepare Now for Next Year
The average family will spend almost two percent of their annual income on Christmas presents, some more than that. Unfortunately, much of the money spent between Halloween and Christmas Eve will be put on credit cards.
This means that many families will be paying off their Christmas spending throughout the year and possibly into the next holiday buying season, which will end up costing more than a gift bought for cash.
To help you avoid the same situation, you may want to start thinking about next year now.
Start Planning Early
The best way to avoid putting holiday spending on a credit card is to start saving money beginning with the pay cheque after Christmas. Determine how much money you spent on everything – gifts, wrapping paper, meals, cards, postage, clothing, decorations – and then divide that amount by twelve. This will give you an idea of how much money you need to save each month in order to pay cash the next year.
Some banks and credit unions have Christmas Club Accounts available so you can put money aside each week, month, or pay period to help keep Christmas costs in check. You may want to open an account as soon as you can and leave the money there until next year. In most cases, besides the money you place in your Christmas Club Account, you may also earn interest on your deposit. It may not be much extra money, but it’s much better to earn interest than having to pay it.
PLR
Gift Ideas for Ladies
Gift Ideas for Men
This means that many families will be paying off their Christmas spending throughout the year and possibly into the next holiday buying season, which will end up costing more than a gift bought for cash.
To help you avoid the same situation, you may want to start thinking about next year now.
Start Planning Early
The best way to avoid putting holiday spending on a credit card is to start saving money beginning with the pay cheque after Christmas. Determine how much money you spent on everything – gifts, wrapping paper, meals, cards, postage, clothing, decorations – and then divide that amount by twelve. This will give you an idea of how much money you need to save each month in order to pay cash the next year.
Some banks and credit unions have Christmas Club Accounts available so you can put money aside each week, month, or pay period to help keep Christmas costs in check. You may want to open an account as soon as you can and leave the money there until next year. In most cases, besides the money you place in your Christmas Club Account, you may also earn interest on your deposit. It may not be much extra money, but it’s much better to earn interest than having to pay it.
PLR
Gift Ideas for Ladies
Gift Ideas for Men
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