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How to Prepare Your Finances for the Holiday Season

These 5 SUPER Tips Will Get You Financially-Ready This Holiday Season!

The holiday season can be a time to give, but you don't have to spend all of your savings on gifts. With careful financial planning, you can help make this season joyful giving instead of stressful budgeting.

As the holidays get underway, it’s important to stay on top of your finances. If you’ve got a good idea of what’s already in your financial planning pipeline and if you’ve managed to set up a budget for this holiday season, then the rest should be relatively easy.

Just put some careful thoughts into your celebration budget, and you can avoid draining your bank account or maxing out your credit card.


Use these 5 TIPS to ensure you stay on budget for the new year, rather than getting wrapped up in holiday shopping!

👉🏻 1. Set Holiday Spending Limits

Your Christmas spending can be kept under control by establishing a set spending limit.

Set a budget for how much money you will allow to leave your account this holiday month so that you can spend freely with both your credit card with your peace of mind intact.

Make the most of this window of opportunity by establishing or cleaning up your budget and determining your available spending funds.

Spending what you can afford on presents is a good way to keep that cash from having to be used for other things. However, if you'd like to have a bit extra to spend, listing what’s important and necessary can leave you more than just a spare change at the end of the month.

👉🏻 2. Make your own 'Naughty and Nice' list

Your holiday budget and shopping list are the first things you should consider. This will allow you to assess your financial situation and make proper savings decisions.

Put some thought into your Christmas list by writing down the names of the people you want to send presents to. List the items you intend to send them, and add monetary amount you wish to spend.

You do not have to give expensive presents to everyone, sometimes we need to just take a closer look and meaningful items count more.

👉🏻 3. Be on the lookout for bargains, special offers and discounts

Holiday season means holiday sales, discounts, and promos. So before you shop online or in the malls, groceries, always be on the lookout for codes, coupons, and sales.

Take advantage of these deals to cut back on your spending. Keeping the savvy shopper mindset can make a huge difference in your budget. Make sure to save money on your purchases or shipping costs.

Savings can happen just by keeping your eyes peeled for deals.

👉🏻 4. Time to get crafty! Homemade gifts are always appreciated!

Just because it's Christmas and you want to be generous doesn't mean you should break the bank.

Rather than spending a lot of money on something the recipient would never use, show your appreciation with a tiny, personal present. Don't rush into holiday shopping at trendy boutiques; instead, consider the needs of the people on your list.

Homemade presents are great ways to save money while creating something memorable.

And making a gift at home is a wonderful way to show appreciation without much cost. This might not work for everyone on your list, but they’re good options for some. Think about sending pictures to grandma and grandpa, or baking cookies for the kids' teachers.

It is important to keep in mind that expensive gift giving is not necessary. Limit yourself to thinking about the close friends and family members and significant others in your life. Make sure that the items on your list are concise and meaningful.

👉🏻 5. Save now - Spend later.

The best way to make sure you have enough money for the holidays is to start putting money away now, look over your holiday spending plan and cross out any items you can do without. To make it even better, choose a place for your holiday money to grow.

Putting away small amounts that you can afford is a great way to get into the habit of saving for life. It can also help you relax during the holiday season. Find an easy way to save a few dollars from each paycheck, whether it's monthly, semi-monthly, or weekly, and make sure that money goes straight into a separate savings account.

The traditional holiday spirit needs to be nurtured and supported in our modern times.


Contact the Lynden Group for more in-depth insights on how we can aid you with expanding your finances and making better preparations for 2023.

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