Christmastime is Here..Well, Almost.

Well, we're on the latter end of October and it's almost time for the holiday season. Are you prepared? This year, try to get a jump on the season by bracing for the coming "generosity complex" by planning your holiday spending. What do I mean?


Well, it starts when you purchase that first ticket for Thanksgiving (for those of you who fly to other areas for the holiday). The day after the Big Meal (Black Friday) is often called the largest shopping day of the year (but this has not really been reliably confirmed). Then you have to fly/drive home again for the Christmas holidays. And then New Year's Day parties...And $500-$600 for a video game system? Does it come with spinning rims? Add in all the spending you do because you're "generous," and the next thing you know, you ring in the New Year with some new debt. Let's call it the January Jolt: you don't realize how broke you are until maybe that second week in January, and you think "What happened?" Then you start looking around for gifts to take back to the store…

This of course, can be prevented. By starting now, you can set aside a little bit of cash here and there for the coming season, it can help soften the blow. Try to give an estimated (but realistic) value on the amount you want to spend on gifts during the holiday season, being mindful of travel expenses, etc. Then, determine how much you expect to spend during the Christmas holidays. Finally, count the number of shopping weeks available to you—then count back to this week. Try to make a goal of saving a set amount over each available week.

For example, if you want to spend $500 on gifts, and $300 on travel and entertainment, and you find you have eight shopping weeks, then you calculate $800/8 weeks = $100/week. Try to consciously save this amount every week, and when it's time to shop, it's very important that you spend it! Not only does it program your mind to set and meet realistic goals and discourage being a scrooge at Christmastime, it'll soften the financial blow to your account. You'll be in better financial health, and you don't have to worry about debt!

So this time, ring the New Year in right: Christmas happens on the same date every year, and so your shopping days are coming. If you haven't started already, start saving now. Hit the Black Friday sales (if you dare), order online, and relax.