Hi, loves! Okay, so this post might seem a little random but please bare with me, I promise you’ll be glad of the reminder! Did the title scare you a little? Do you think I’ve gone completely nuts? Maybe I have! Today I’m sharing the reasons why you should start saving, and also helping you put together a little plan so that when December rolls around you’re not scared to check your bank account.
I never used to save for Christmas. It’s literally on the same day every year (Wednesday, right? If you know, you know) and there’s no real excuse not to set money aside each month to help you out with buying your gifts once November/December rolls around. There’s so much more to Christmas than giving gifts, but it’s something most of us love to do. Giving my loved ones gifts that I know they’ll love makes me so much happier than receiving gifts, it’s just the best feeling seeing someone be happy with what you got for them. So, what do you need to do to start saving?
Firstly, you need a plan. Is anyone shocked that I’m suggesting you create a plan? No? Okay, well let’s get started. Write down every single person on your Christmas list this year; that’s going to be your partner, your parents/siblings, your extended family members, friends and even any Secret Santa gifts you may be taking part in. Next to each persons name, you then need to write an amount you’re willing to spend on that person, and that is then your budget for their gift(s). This year, Matt and I decided not to do any ‘big gifts’ for each other, and instead we’re going to plan a trip for the new year (and also save more towards our house!) so we’ve set two limits; one for our ‘main’ gifts, and one for our stocking fillers. We always go overboard at Christmas and spend a
small fortune, but really we’re just so happy to spend Christmas together and see both of our families so the the gifts part really isn’t important! I hope I stick to the set budget, because buying gifts for Matt really is one of my favorite things to do and I always feel like I just have to get all the things he’d like, hah!
Now you know how much you’re going to spend per person/couple, add those figures up, and divide it by how many weeks there is until Christmas. If you’re doing this today – if not, why aren’t you doing this today?! – it is 15 weeks until 22nd December. As you don’t want to be waiting for the balance of your money to be saved by the last weekend before Christmas, I’d divide your total by 14; meaning the week before Christmas all of your shopping should be completely done! Of course, you can save more than this figure each week, because the sooner you save that total the sooner you can have that money back for whatever else you want to spend it on. Also, if you’re not able to save that amount each week, maybe take another look at your totals for each person and adjust accordingly; your family and friends don’t need you to spend all of your money on them as that is NOT what Christmas is about, so be realistic with your figures.
So, where are you going to save this money? For me, the most logical thing to do is create another savings account; this means you can see the money mounting up, and you can also easily save each week by adding a standing order to your current account, meaning the money goes out each week and you don’t have to manually do anything. Of course you’ll need to adjust your budget to suit this money going out each week, but that’s another post!
It might also be beneficial to save extra money that you are wanting to spend at Christmas related to giving; we’re all so much more generous at Christmas (although it should be an all year round trait!) and there seems to be lots more giving opportunities. Whether it’s donating to charities, buying food for your local food bank, donating toys for children that don’t have them or something else entirely, even if you saved a few pounds each week you’d have an extra buffer ready to be able to give. Matt and I sent shoeboxes with Operation Christmas Child last year and we’re so excited to do it again; you pay a donation to be able to track your box, and fill it with sweets, toys, games, colouring books etc for children who would otherwise receive nothing on Christmas Day. Ours made it to Africa last year, and I can’t wait to see where they go this year! If you’re interested in participating this year, please check out the details here.
So, maybe you’re now freaking out that you need to save so much each week to be able to buy the gifts you want to for your loved ones. Don’t worry, you have so much time to be able to save, it’s more than three months until Christmas (which for me is now only two pay cheques, oh my GOD!) Here’s a few ways you can save money in the rest of your budget:
– limit eating out; cooking at home is way cheaper (and way more fun) than going out to eat all of the time. Check out Mix And Match Mama for some amazing recipe ideas, you’ll never want to go to a restaurant again!
– make your tea/coffee/hot chocolate at home; instead of stopping by Costa or Starbucks on the daily, make your own and you can take it on the go in the cutest re-usable (and collapsible!) cup. You can still enjoy in moderation, because after all it is Bonfire Spice season, YAY!
– have a No Spend month before December; basically eliminate everything from your budget that isn’t the absolute essentials. Of course you need to pay for your car, home, groceries, petrol etc, but do you need a clothing allowance this month? Or a beauty treatment? Give yourself a little ‘pocket money’ to spend at your own leisure to keep you encouraged, but for the most part you can forego everything but the necessities for a month, it’s life changing I promise you! You will absolutely hit your goal quicker if you do this.
– get creative with date nights; at home date nights (or friend nights) can be just as fun as going out, and as a bonus there’s no need to wear makeup, hallelujah!
– check out sales and offers in the buildup to Christmas; even before Black Friday hits our shelves and screens, there are so many good deals to be found – you just have to look! I like to add a separate column to my Christmas spreadsheet where I can list what I want to buy for each person (Matt’s so lucky because I do all of the choosing for gifts, he just gets to take the credit with me hah!) and then keep an eye out for discounts or deals.
December is always a crazy expensive month; with all of the gifting, giving and partying going on it seems that you’re constantly spending money, so I hope if you do plan a little in advance then you’re not going to feel the pinch so much! Also, if you get most of your December wage to yourself, think of all the extra Christmas chocolates you can pick up! 😉
Thank you so much for reading, I hope you enjoyed this post (and don’t think I’m completely mad). Some people save all year round then beef their savings up when Christmas gets closer; do you do that? Or, are you now going to start saving after getting this little kick up the butt? I really hope this helps you, please leave any extra tips and tricks you do too!