I know for most of you, Christmas is one of the last things on your mind as you're lounging by the pool or rushing to the shore (beach if you don't live in NJ) on the weekends. But the holidays can be more stress-free with a little bit of planning now.
If you don't already have a budget, start there. Look at your net income and compare it to what goes out each month. Invest in some good reading material like Dave Ramsey's Total Money Makeover (link at the bottom) to help you set a reasonable budget that will help you save, get out of debt, and reduce your financial worries. Once you've set a budget, you can see how much you can set aside to save up for gifts during the holidays. I recommend setting aside a budgeted amount each month in a cash envelop marked "gifts." That way, when you're ready to start shopping, you'll have cash to work with instead of a credit card or cleaning out your back account!
If it turns out you don't have much wiggle room in your budget to save for gifts, consider finding a way to get a little extra income! What can you make and sell on etsy or a small website? Take a look at the "stuff" you don't need. What can you sell on ebay or craigslist? Find comparable items and list yours for a little less if you really want to sell. Consider the condition of the items you're listing. If you take great care of your things, let the buyers know that what you're offering is in "Excellent Used Condition." If you're not into posting things online, enlist the help of an internet savvy friend. Or have a good ol' fashioned Garage Sale!
Keep your eye out for deals on things you know you want to purchase. For example, I've been looking for a wooden kitchen set for my Little One and have been pricing them for the last several months. Since I've been earning amazon.com gift cards using Swagbucks, I look primarily on amazon.com. Ask around to find the best sites to get discounts on the particular items you want to purchase like newegg.com for electronics or babysteals.com for boutique baby items. REMEMBER, if you buy online, it still comes out of your budget!
What tips do you have for preparing for gift-giving season?
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