Save Now for Next Year's Holidays
By Kristi Vaughan
Does holiday spending have you tapped out? Why not start saving now for next year's holidays?
The idea of a "holiday club" might seem a bit old-fashioned, and, indeed it might even be hard to find an organized plan, but the basic concept of putting a little bit away each week so you'll have a lump sum at a future date never goes out of style. The following are a few easy ways to save for future gift giving without feeling much pain.
Clip coupons and pocket the change.
You know those cents off coupons that manufacturers put in the Sunday newspaper? Why not take the money you save by avidly using those coupons and putting the saved money in a special place. In a year's time you'll probably be surprised at how much you'll have.
Boost the savings with mail-in rebates.
Don't forget to check out the possibility of getting a rebate for the money you have spent. Watch for offers inside packages, in newspapers and magazines and on the packaging itself. And then, when the rebate comes, sock it away in your special account.
Skip the daily latte.
We've all heard this before but how many of us have actually followed the advice? Those few dollars each day can add up quickly.
Automatic deductions.
Talk with your bank or credit union to see if you can have a set amount automatically deducted from your paycheck and deposited in a special account.
Write yourself a bill.
You don't skip paying bills do you? So why not send yourself a regular bill for holiday savings? Just don't forget to pay it!
Search out a holiday savings club.
Although many banks have stopped offering organized holiday clubs, a few still do. An even more common place to find a holiday club is a workplace credit union. Try searching the Internet or calling local banks if you don't belong to a credit union.
Start the next year as soon as you finish this one.
Every week that you save means that much more money to spend later. So even as you are spending what you saved this year, get started on next year's holiday savings!
