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The Holidays Have Begun | Entreprelife

The Holidays Have Begun

Cash Money

Way better than a credit card bill

December 1st marks the beginning of the Christmas season. Over the next 25 days, there will be more parties, shopping, and deco­rating than at any other time of the year.

In February, I warned you that Christmas is coming. Turns out, it shows up every December 25th!

Who knew.

Back then, I told you to start saving for Christmas by figuring out how much you spend in 2010 and saving 1/12th of that every month from January until December. An easy solution that makes December enjoyable instead of stressful.

Now that December is offi­cially here, how did you do?

  • Do you have all the cash you need for the month tucked away somewhere safe?
  • Are you most of the way there, but may still need to dip into other funds?
  • Do you need to work an extra job this month to pay for the holiday?
  • Are you going to charge every­thing and “most likely” pay it off in January?

I’ll go first:

I am $100 dollars short of where I wanted to be on December 1st. My biggest down fall was not having a consis­tent income over the summer (quitting your job to start a blog will do that). My short fall means my family will be cutting back a little bit this month. Still, we’ll be able to do about 90% of the stuff we hoped to.

All thanks to putting a little bit of money away every month.

Now it’s your turn. You will spend more money in December than at any other time of the year. Are you ready for the added expense or will this be another over-spent Christmas?

How will you control spending this Christmas?

6 Responses to “The Holidays Have Begun”

  1. Don Sartain December 1, 2011 at 8:49 AM #

    You don’t HAVE to spend more money in December…just don’t buy people Christmas presents. Tell them that your gift to them is allowing them to wait in eager antic­i­pa­tion for NEXT Christmas, so they really get the feel of Advent.

    • Alex December 1, 2011 at 10:25 AM #

      It’s not just presents, friend. It’s grabbing a beer with friends or driving more miles than normal, or donating a bit more this month. In December, people spend more.

  2. Loren Pinilis December 2, 2011 at 7:17 AM #

    My wife and I don’t save a specific amount towards Christmas gifts, but we do know they’re coming and try to stock up. I’m fortunate enough to get Christmas bonuses, etc. so that helps too. To control our spending, we make lists of people we want to buy gifts for and then an amount we’re comfort­able spending on each person. I know that’s not really anything special :)

    • Alex December 2, 2011 at 9:20 AM #

      That is signif­i­cantly better than most people. Are you pretty good at staying within your limits?

      • Loren Pinilis December 2, 2011 at 3:25 PM #

        We’re pretty good for the most part. We end up maybe spending a few bucks less on this person to spend a few bucks more on another. And we don’t really mind going over budget a little, too. It’s one thing to go over your enter­tain­ment budget because you eat out too much, but going over your gift budget because you want to show some love to your family — that doesn’t really bug me as much. We just tighten up in another area to supple­ment the gift budget.

        • Alex December 2, 2011 at 4:14 PM #

          Maybe I shouldn’t admit this, but my wife and I are similar with gift giving. We budget for each person and if it goes a little over or a little under it’s no big deal — we just tighten up somewhere else.

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