Holiday Savings Tip #1

Holiday savings tip for the day:

Have a goal and start saving now. Lets say you wanted to have $200 for Christmas gifts this year and you wanted to buy your gifts on December 12th this year. This gives you about 2 weeks to shop. Today is exactly one month. You have 4 weeks counting this week but not counting Thanksgiving week (because most work places close down for the whole week or the day before and the day after). If you can contribute on Thanksgiving week divide your amount by 5 weeks instead. If you want to save longer or shorter, do it! Customize your plan to fit YOUR needs!

$200/ 4 weeks = $50

You would need to save about $50 a week to have $200 in time for Christmas shopping. If you can contribute more, then do so if you want to. No one is stopping you! You can save more or less depending on what you need. But before you start saving any amount, you need to have a clear goal. Without a goal most people fall on the wayside and forget what they are saving for and end up spending the money here and there. Another important thing is to put that money out of sight so you won't spend it. Put it in a savings account at Listerhill! Don't attach it to your checking if you have an account there already. Make a separate savings account. You can use this account again in the future.

Another important thing to think about is what you are going to buy and how much each item is. This will help you in determining your goal. Set a limit for yourself on how much you are going to spend on each person. If you can only afford to have a small Christmas, make your list smaller. Only buy for your closest of family like, spouses, parents, siblings, and/or grandparents. Your family will understand if you don't buy EVERYONE a gift. The season is about being with the people you love. Don't let the retail market make you think otherwise!


This also works for anything you'd like to save for! Birthdays, vacations, holiday dinners, road trips, etc. This can work for reoccurring bills such as tuition, books, school supplies, rent, utilities, etc... BUT I have another plan for that and it works better! Stay tuned for more and don't forget to listen to me tomorrow at 12:30 on Star 94.9 WMSR!


-Kayla