Is it too late to save for Christmas?

Christmas might be around the corner but it's not too late to start saving.

Christmas is just a few weeks away! As exciting as this may be, the thought of it has many thinking of the costs they will be expending prior to and even after the festive season.

It may be especially worrisome if you have not saved through out the year and have roughly a few weeks to save in order to have a more festive season. It’s better late than never. You can start saving now!

Here are some tips to help you save some money for the Yuletide season.

CREATE A CHRISTMAS BUDGET

Create a Christmas budget to help you save money for holiday season. Decide how much you will spend for Christmas, divide that amount by the number of weeks, and start saving. For example if you plan to spend N40,000 this Christmas, you can start with saving N10, 000, and then another N10,000 in three more places.

BUT YOU MIGHT ASK, HOW CAN YOU SAVE N10,000 OR YOUR CHOSEN AMOUNT EVERY WEEK TILL CHRISTMAS ESPECIALLY WITH ALL THE BILLS YOU HAVE TO PAY?

You can start through the little ways, one of which is;

1. Meal planning: A lot of money is lost through ineffective meal planning and scheduling. Check these tips to help you get better with that.

2. Pay yourself first: When you get paid, extract the amount you’ll be needing for Christmas and put in another savings account before you proceed to budgeting the rest.

3. Utilise the period: This is the period of Black Friday/Cyber Monday. This means a lot of things can be gotten at discount prices during this period. Need any new products, outfits or gadgets. Check out this great discounts.

Here are some other pointers to help you in your plan;

To have a proper budget plan, break down your holiday spending into the categories that fit your plans. Here are some options – gifts, festivities, decorations, travel, clothing, entertainment, etc.

After you do this, write down your goals for this holiday season. Decide what’s important before you’re caught up in the hustle and bustle. Having a plan will keep your spending in line when things get busy.

If your holiday plans include travelling by air, it might pay to book in advance as fares are usually cheaper when booked in advance. Finally, find ways you can cut on spending as the season draws near and do not over spend beyond your means during the holiday. There are some affordable ways to have fun this season, you can find great joy in the little things.