While many retailers started giving their full court press in holiday advertising at least a month ago, most shoppers shift gears to the holidays after Halloween has passed. Well, tomorrow marks the occasion for haunted houses and candy corn, which means November and intense holiday shopping is already upon us. During the holidays, saving often takes a back seat to spending, so here is my solution for ensuring you're left with more than pennies after the season of giving has ceased.
In-the-Black tip: If you haven't already, set up automatic transfers from your checking account to a savings account that occur whenever you receive a paycheck. The money will be out of sight and unavailable when you're out shopping with your debit card, and you'll feel better about spending money on gifts for others knowing that you've already taken care of yourself.
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this is definitely a good idea, I do this with my check on the 15th every month.
My other fail proof thing is set a budget for each person you want to buy for and stick to it. It's work for us so far.
1VERY smart. i think that once the holidays come along, we forget that we're supposed to save some of our money just like we do throughout the year, and if you don't automatically do it, then chances are you won't remember and that money will be spent. unfortunately creditors don't go for the 'i had to buy my mom and dad, and 100 friends presents - sorry' excuse.
2Holidays aside, discipline practice is a must. Hiding it and stashing it so you don't see it all sound like you're trying to ignore a problem. The first step is admitting you have a problem.
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