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Ever been accused of being greedy? Or being stingy with your money? If you’re on a debt-free journey like me and pinching every penny, it can be tough for outsiders to see your generous heart. But what others sometimes fail to see is that being frugal and sticking to a budget doesn’t make you greedy – it doesn’t change your generous heart at all!
Even though you’re trying to save money and crush your debt, I bet you’re still very generous. I loved giving before I started my debt-free journey and I still love giving now.
And I bet you do, too. Especially when it comes to birthdays and Christmas.
Oh, Christmas… Christmas is my absolute favorite holiday! Everyone is so cheerful and extra-generous with their time and money. Even with all that joy, your best money-saving strategies won’t save your budget if you aren’t prepared.
There are few things that derail my best budgeting efforts as much as buying Christmas gifts does.
There is good news, though, and I’ll let you in on my secret for preparing for the extra gift-giving at Christmas time.
I have a Christmas Club.
Now, don’t laugh. I know, I know. A Christmas Club account is something my mom had – and it always seemed like such an “adult” thing to do. So you must be thinking you’re not “adult enough” to do such an adult thing!
But I assure you, you are.
And the simple fact that you’re reading this blog proves it. You WANT to get out of debt. You WANT to get your spending under control. And you WANT to set yourself up for future financial success.
So, do yourself (and your family) a favor and set up a Christmas Club account. I bet your bank will even let you do this for free!
And now that you’re convinced this is the best way to stop Christmas from ruining your year-long debt-busting progress, you need to decide how much to put in there. But how?
It’s easy to do. And I wrote this article for the Huffington Post that covers this exact topic.
In this article, I outline the exact steps you need to take to figure out the magic number you need to set aside every paycheck between now and Christmas.
Once you know that magic number, contact your payroll department at your office (or set up a recurring transfer through your bank) and have that amount automatically transferred to your Christmas Club every week.
Because if it’s done automatically, you won’t even miss it from your paycheck.
Just a few short years ago, I was lost when the holidays rolled around. I was struggling to find money to buy gifts for my family and friends – and that made me feel terrible. See, I LOVE to give! And when I didn’t have the money available to give Christmas gifts the way I wanted to, it made me feel bad.
Ease the guilt of gift giving and make the holidays stress-free. Set up your Christmas Club account today!
Amy Beardsley is a wife, mom to a teenager and frugal lifestyle enthusiast. She’s always on the lookout for new ways to cut costs and increase income, without sacrificing comfort. She’s also a freelance writer who specializes in credit reporting, FinTech, and probate and estate planning topics. When Amy isn’t perfecting her budget spreadsheet, you can find her curled up with a good book or watching Marvel movies with her husband and daughter.