Without a doubt, Christmas is the most wonderful time of the year, but yet could get expensive. If you have not yet thought about how to finance your Christmas expenses, this is the perfect time to organize the future of your finances with the advice of Valle Accounting.
Plan your expenses
Planning your Christmas expenses in October may seem a bit strange, but it really is the best thing you can do, and if you started earlier, much better.
Splitting the cost of Christmas into several months can really reduce the strain on your bank account.
Set a budget
The first step to stay within spending limits is to establish a budget. There is no right or wrong way to do this and what you can spend varies from one person to another. The most important thing is to be realistic with your reality and your finances.
Start buying Christmas gifts this month
Buying Christmas gifts in October is not too soon. Starting your Christmas shopping early is a great way to make sure you stay on budget and get great deals and promotions.
Make a list
The first step in organizing purchases is making a list. Thus, not only can you control who is going to buy a gift, but you can also accurately budget each gift.
Don’t waste your money on undesirable gifts
According to Amazon figures, almost half of people end up changing what they receive and three out of four people are disappointed with what they receive as a Christmas gift.
One option to not lose money is to ask them what they want. You may lose the surprise factor, but at least you will know that it isn’t money wasted.
Do not trust the last check
“I will buy Christmas presents with my November check”: Does this statement sound familiar?
The problem here is that your personal costs, such as rent and utility bills, don’t stop just because it’s Christmas. Be honest with yourself, how much money do you usually have left in your salary after paying all your essential services? Will it be enough to pay for Christmas? Probably not.
This is why it is really important to think about the future and distribute the cost of the holiday season in several pay days. That way, you won’t have to borrow money.
Avoid putting everything on credit cards
There are many advantages of buying Christmas gifts with your credit card, but avoid using your card to buy things that you simply can’t afford.
While this may seem like a good idea at the moment, you’ll regret it, once your credit card bill arrives in January.
Start thinking about Christmas next year
You may want to finish this December first, but it is never too early to start planning next year.
Think of this this way: If you need to save $ 500 between now and Christmas Day, you would need to save around $ 250 per month.
On the other hand, if you start saving from January, you would only need to reserve around $ 40 a month to save the same amount on time for the next Christmas. Easy right?
Remember that in Valle Group you can receive all the financial advice you need to keep your numbers in order. With the knowledge experts accountants of Valle Accounting, personal and business accounting will be organized and up to date, complying with all the requirements of the law.
Come to Valle Group and ask for accounting services Valle Accounting 5680 E Franklin Rd. Suite 225 #Nampa, ID 83687 | 208-505-0108 | www.myvallegroup.com