The holidays are almost over, and pretty soon the holiday bills will be coming in. If you overspent this year, you don't have to make the same mistake in 2020. I know Christmas 2020 seems like it's very far away, but with a little planning now, you can avoid overspending next year.
So, where to start? First things first: you'll want to finalize your 2020 Budget. Having a realistic budget that you stick to every month is the single best thing you can do to get off to a good start in 2020. Holiday spending should be a line item in that budget. Determine how much, in total, you can afford to spend on holiday giving. Then divide that total by 12 to get your monthly cost. Each month, stash away your monthly cost into a savings account.
Now it's time to figure out what, exactly, you'll be buying with all that wisely-saved money. If you sketch out a list now, you can take advantage of seasonal pricing on many items. Check out this article from Consumer Reports on what time of year certain products are cheapest. Shop throughout the year to get the best prices.
If you regularly use a credit card throughout the year, use one with a low interest rate that gives you reward points for using it to buy groceries, gasoline, etc. If you shop smart all year long and pay off your balance each month, you can use those reward points to get free gifts like gift cards for family and friends. What's better than free? If you need a simple, low rate card with great rewards, check out Coosa Valley Credit Union's great options.
With a little planning ahead, you can save big on holiday spending in 2020. Merry Christmas!