It's Never Too Late to Start Saving for the Holidays
Many retail websites are currently promoting Christmas in July. For some, this month may be a good time of year to shop. For others, the idea of Christmas shopping in the summer is preposterous!
Yet, saving toward your holiday shopping can be a good idea at any time.
According to Lana Brown, a certified credit counselor with FamilyMeans, “In an ideal world you would save some funds every month to cover your end-of-the-year holiday shopping. If you aren't already doing this, begin saving some money out of every paycheck so your holiday shopping will be more enjoyable and less financially stressful.”
Starting in August, people still have an average of eight pay days before Christmas. Putting even $25 away per paycheck will allow shoppers to set aside $200. Then, in January, using the same savings method and amount, you can save more than $600 toward your holiday shopping throughout the year.
FamilyMeans certified credit counselors recommend these savings methods, when doable, for items such as back-to-school shopping, vacations, new cars and other items that can quickly add up.
Last year, FamilyMeans helped more than 13,000 people in the areas of budget and credit counseling, debt management, credit report review and financial education. Helping consumers better understand their personal financial situations and reclaim their financial futures is fundamental to the support provided at FamilyMeans.
To learn more about how FamilyMeans can help you budget, contact a financial counselor today.