Promise yourself just one thing!

If you love the holidays and having fun in December, promise yourself just one thing:  You'll budget for it in 2017.

Seriously, that simply is one of the best things that you can do for yourself.  Put aside *some* money.  Ideally you will cover all your planned expenses.  But if you can find $10 each week (office workers - bring your lunch and skip a coffee), then you will have a nice $500ish to spend and a lot less worry.  

I try to put aside money for many things on both a weekly and a monthly basis ($5 here, $15 there, it all adds up!) Life costs money and if I'm not extremely careful I would be running up a credit card bill.

[As much as I'd like to say that I wouldn't put things on a credit card (and not pay it off each month), my smugness shall we say comes from the habit of consistently putting money aside.  If I didn't do that, I have to say that yup I could definitely see myself charging and then cringing when the bill came.]

How to do it?  Well some banks, credit unions etc. actually used to have a Christmas Club.  (Some still do but not many.)  Take advantage if yours does.  Or transfer money each week or month (I do this!).  Or set up a small automatic transfer from checking to savings (I do this!) so you don't need to think about it.  Or have some of your paycheck direct deposited into a savings account.  (I used to do this!.)  Or get a sealed pot or piggy bank or big jar and start tossing in the change and bills (I do this!).

Of course the best first step is to look back on January 1st and ask yourself how you feel.  Did you have a great December?  What did you like?  What should you continue to do?  What should you stop doing?  Are you in the red or in the black?  Take your holiday temperature.  Then put a price on it.  Think about what you spent and whether you could lower that number or if it needs to increase etc. Lastly, add in a little extra for the post-holiday sales because depending on what you buy that may be a good time to pick up cards, wrapping paper etc.

The next step is to start saving!

This year I'm a little behind time-wise - well by a week.  But I don't need to go anywhere crazy busy (thankfully) to get the remaining items.  And I think I will just come in on budget.  Next year, however, I am planning a few different things so will need to increase it a bit.  Having to spend more money is not ideal but having 12 months to budget for it softens the blow.

Pru