Saving up for holiday expenses is easier said than done. However, it may be more doable than you think. A solid budget and persistent mindset can fill up even the emptiest wallet for all the festive fun. Check out the tips below to ensure you have a bright and budget-friendly holiday season.
Write down all your upcoming expenses.
Before you start budgeting – first, you need to know what’s coming up.
Travel expenses, holiday dinners, gifts, and other seasonal festivities can all add up. Don’t forget that your monthly bills stay the same so you should also account for rent, utilities, insurance etc. Create a spreadsheet and do the math. Do you have enough cash saved up? If money doesn’t grow on your trees either, here’s what you can do.
Lower your most expensive bills.
Are you currently dealing with expensive student loan debt?
There’s no better time than now to refinance or consolidate your student loans. If you have federal student loans, you may qualify for a lower monthly payment by enrolling in an income-driven repayment plan. There are many different repayment programs that could lead to significantly lower bills!
If you’re not sure where to start, Docupop may be able to help. They can help you find and file for the best repayment plan possible to fit your unique lifestyle.
Make a budget.
Now that you know what your upcoming expenses are, and have hopefully achieved a lower student loan payment – it’s time to make a budget. Add a number to each holiday category below.. $50, $100, or $200?!
- Holiday decorations
- Grocery’s and restaurant visits
- Travel expenses (gas, flight, accommodations)
- Mail & postage (Include holiday greetings, and shipping expenses)
- Local holiday events
Whether you plan to spend more on groceries, restaurant visits, or gifts this year – take advantage of rewards programs that often come with credit cards. You may already know that your credit score affects which credit cards you could qualify for.
If your current score is preventing you from enjoying credit card perks, ScoreShuttle may be able to help! Their online credit enhancing technology could help you reach your ideal score right in time for the holidays!
Find ways to make more money.
If your holiday budget still comes up short, you may need to dig deeper to afford your upcoming expenses.
Start at square one – your home! Got old garage toys you no longer use? Find a new home for it, and enjoy some extra cash. Clothes, furniture, and electronics are other great products to help fill up your wallet.
Did you know that you can also get paid just by participating in online surveys?! It true! If you’re looking to add a significant chunk of cash, you might just have to look for an extra side hustle. Many local shops and restaurants extend their opening hours during this time of the year and are currently looking to hire. Grab a few resumes and get going!
You know what they say, the more the merrier!