Save Money For Next Christmas – Part 4

In this series, we are learning how to ensure we pay cash for next Christmas!

Step 1   Determine how much money you want for Christmas next year

The goal in this step is to use the Mini-Budget Form (Excel) to determine the amount of money that you want for next year's Christmas.

Step 2   Save EVERY month for Christmas next year

By saving for Christmas every single month of the year, you can really lighten the financial burden that is regularly felt in November and December's budget!

Step 3   Make it AUTOMATIC!

By making your savings automatic, you help ensure that you stick to you savings plan!

Step 4   When Christmas shows up, pull your savings out in cash

You have done great!  You have planned your spending and actually saved up the money!  Now, it is Christmas time.  There is one more hurdle to jump – sticking to your spending plan!  I highly recommend that you use the cash envelope method.  Why?  Because when you spend cash, it is IMPOSSIBLE for you to spend more than you planned!  It is the ultimate accountability!  When you run out of cash, you are done!

I have found that when I spend cash, I am much more frugal and I usually end up getting a lot better deal than if I would have paid with a credit card.  Why?  I really can't explain it.  I think it has to do with the fact that I am less impulsive and that means I think longer before making the purchase.

Well, that is it!  That is how I have managed to pay cash for Christmas every single year starting in 2003.  Here's to you having an all-cash, debt-free Christmas next year!

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