Because it’s something we should all be thinking about…
Please don’t adjust your screen or skip over this post. I know, I know, it’s far too early to think about Christmas. But in terms of ensuring you enjoy the festive period without worrying about money, now is the time to start thinking about it. I know that for me, my holiday financial prep needs to start now. I’ve got three big events happening before December that I want to enjoy fully. So thinking about my finances and what I need to put away has to start now.
Do you want to start off 2020 in a good place? With a few months to plan, here are my strategies to prepare your wallet and get your holiday financial prep in place…
01. START THE PRESENT LIST NOW.
By no means, you do not need to buy presents now (unless you really want to. But part of the financial planning for the festive season is getting organised. So make your list of the people you want to treat this season. Family, friends, pets (your pet deserves a treat). Note them all down.
02. NOTE DOWN THE EVENTS YOU WANT TO GO TO.
There are going to be so many events that you’re going to want to go to. There are the work dos, the squad get-togethers and the odd festive cocktail times. Now, the invites might have not come in now, but you’ll know the ones that come around like clockwork. So as part of your holiday financial prep, note them down now of the ones you know you’ll want to go to.
03. BUDGET TIME.
Now is the painful part. How much do you want to pay for all of this? Set a gift amount now. Do not feel guilty about the amount. People who are stuck on an amount are not worth buying presents. Anyone who truly loves you will just be happy to receive something special from you. Whilst you’re also thinking about the gift, set yourself a budget amount now for the outings you’re going to. How much do you really want to spend on cocktails and dinner with the girls? Finally, decorations. I am terrible for wanting to buy Christmas decorations every single year (hello The White Company). Give yourself a budget for that now and work out your total amount.
04. START SAVING.
This is simple. Now you’ve got your spending amount. Start saving now. This is the key to planning for the festive season. From today, there are three Pay Days before Christmas. Use them wisely. Luckily, I have nothing happening in October, so I can make the most of saving as many pennies as I can. If you can even put £50.00 away each month, that’s £150.00 for presents already saved. Trust me, December-self will be thanking you.
05. TICK OFF WHAT YOU CAN NOW.
Now I know I said you didn’t have to buy presents now, but hear me out. You’ve got one annoying but brilliant holiday coming up where you can bag a bargain. And whilst I’m a little upset that Black Friday falls on my birthday this year (better than last year when it fell on a major American Holiday) it’s a brilliant opportunity to bag a bargain. There are a few presents we know we want to get family that we’re going to be buying on that day. The other thing to think about is travel. I’m pretty sure train tickets for that time of the year will be available now, so why not buy them now if you need them and save yourself a pretty penny.