“The journey of a thousand miles begins with one step.”
Lao Tzu
Christmas is less than two weeks ago! Are you killing yourself by working more hours to get your Christmas gift funds?
Christmas is less than two weeks away! Are you killing yourself by working more hours to get your Christmas gift funds? No need to take out loans or get into credit debt for one day!
I know what you’re thinking… “There’s no way I can save over $1,000 with my current income!” Well, let’s break this thing down!
There are 51 weeks from January 1 to December 25 so that means you will have to save $19.60 per week! Not bad at all right?! What about $10 per week for a whopping $510?
Here’s how to save over $1,000 by next Christmas:
- Make the decision to save because if you don’t you won’t do it! Make a promise to yourself to save as much as your budget permits.
- Open a separate Christmas account that you won’t touch until it’s time to buy gifts! Make sure that your account has little to no fees because that won’t give you the best bang for your buck! Get a free checking account with no minimum balance! Don’t worry about getting interest on this money because most bank accounts have low interest rates.
What if something happens and I need the cash that’s in my Christmas account? You have to figure out if that problem is an immediate threat to your well being or standard of living. That’s why we have an emergency fund. If you don’t have an emergency fund, use as little as possible from your Christmas account and replace it. - Automate your savings so you won’t forget to put the money aside and eliminate the temptation to spend the money. You can do this easily in your banking app. If you don’t have a bank account, take the $25 and put it in a sealed box or jar that you can’t open!
- Use the money when the time comes and spend guilt free! You can save some or blow it all! It’s your money so use it how you want to!
So, there you have it! It doesn’t take too much effort to save money! You just have to figure out how much you want to save and break it down into weekly achievable goals! Don’t forget to spend it freely! Do you have any ideas or methods you use when saving for short term goals? Comment below!