Well, the real question is how far away is Thanksgiving? That day seems to be the day in which our benchmark of holiday savings must be met in order to cover the cost of the holidays and allow the shopping and eating frenzy to begin. Ugh! For some the day seems far away. So when the thought of saving now pops into our head we rationalize our thinking. Right now it’s easy to think that unbeknownst to myself at this early time in the year, is that large windfalls of cash will be bestowed upon me between now and Thanksgiving. Also, I will find super deals on everything I want to purchase because I am so frugal and I will not need as much money down the road anyway. So why worry? Besides March is usually the month I finish paying off last year's holiday expenses. The last thing I want to do is pay for next year starting in March. Time to take a break.
Every year I have these misguided thoughts about saving for the cost of the holidays. The truth is the windfalls never come and that I end up spending more than I ever thought I would. The only thing I banked was more worry.
OK, so I have 7 months to save and put an end to the January blues. When I analyze my spending over this time of year it actually is about the same every year even though I complain that it gets more costly every year. That amount divided by 7 put away monthly will make this cold winter much warmer.
Perhaps you may have a great method of saving for the holidays you would like to share. I would love to hear it.
In the meantime I will keep you posted on my goal.
PS. I am not crafty.
I am no Dave Ramsey but I have learned a little from some of my own mistakes. As an 80s graduate of the Father Guido Sarducci Five Minute University, I was highly sought after for low-level retail jobs at first. But when they dried up, I was forced to go back to school and get an additional degree in communications. Now I would still have a low-level retail job with with student loan debit to go along with it. Facing an uphill battle, I did the smart thing and started a family.