The holidays are mere weeks away; it’s time to start planning to go easy on your pocketbook. The experts at Broussard Poché, LLP know there are more than a few people out there who need to start now, so they can have a financially stress free holiday.
Here are a few tips to help you get ahead:
Don’t Wait: Seriously, start now! Put money aside from every paycheck from now until you start shopping. Next year, plan even further ahead by putting away a bit every month. Don’t risk overspending when even setting aside $20 a paycheck could cover expenses. Create a special savings account just for holiday and Christmas spending.
Know Your Budget: It’s a good idea to take a look at your overall finances and budget every few months. Setting aside money for shopping may be the perfect time to get things in order. See where your money is going and where your spending habits are headed. Create your shopping budget around things like loan payments and credit card debt.
Cut Costs: If you haven’t saved up for this year’s shopping list, you still have time to make up for the oversight. After figuring out your budget, you may have noticed a few places you can cut back for a few months. Maybe lose a few monthly memberships? Or start coupon shopping on your regular grocery trips? Are you getting the best deal on your car insurance, etc? Most people can find big savings a few dollars at a time.
Shop Around: If you start early you can shop around and compare prices. Black Friday isn’t the only place to get cheap prices, many online retailers start deals as early as October. Make lists and compare. Even seemingly small price differences can add up.
Clean Closets: Another way to add a few more dollars to your holidays savings account is to sell your stuff. This is especially handy if you have children. They are going to get new toys for the holidays, it might be time to get rid of the ones they don’t use. Take stock of items you haven’t touched in a while, as well. Consider selling them online or even having a garage sale. Take the money you’ve earned and deposit it directly into your Christmas account.
The tax professionals at Broussard Poché, LLP can also help you save on your tax returns. Make sure you are not overpaying; pass those savings on to your Christmas account. Contact the experts at Broussard Poché, LLP for assistance.