Do you save money each month to put towards Christmas gifts? Do you count on a bonus? Do you worry about it as Christmas nears?

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I say every year that I am going to save all year, but I don't... I really should as not only do we have X-mas with 3 kids, we also have 4 birthdays from Dec4-Jan 3. I always feel broke during Dec. and really look forward to getting back on track with our tax refund!

We have a gifts given line in our budget so that each month there is money put back. Keep us from being overwhelmed.

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Do you save money each month to put towards Christmas gifts? Yes, I save every week, all year long, starting the first Monday after Christmas. I use the money for gifts, entertaining, decorating etc It's something my Mom used to do growing up, just setting aside a certain amt each week from her weekly budget. I started doing it when I was in college and still do it today. The amt I save each week has changed but the premise is the same. It works out really well for me. I don't miss the amt I take out of my weekly operating budget each week and it really adds up. Every Monday I just move the money (online), into another account I have. Easy peasy.

Do you count on a bonus? Nope. Dh does get a bonus each year, but we invest it.

Do you worry about it as Christmas nears? Nope

I plan, budget and buy all year long as soon as Christmas is over. I hit the sales, buy Cards, paper, bows, ribbons, decorations, containers, stocking stuffers (Pencils, stickers, coloring/puzzle books) at 75% off. I pick up Bath products for Birthdays and Mothers day and Hostess gifts. I stash them in labeled boxes in the garage. When school supplies go on sale buy office type supplies, crayons, glue sticks, etc. Target had some great markdowns right before end of Sep to make room for all the Halloween Stuff. After Halloween, at 50%-75% markdown, I buy all the solid black napkins and plates to use for New Year's.

If there is something someone wants ie: my son's video game, I check out the cost and set aside $ for it each month. I waited for Universal Studio tickets to be free for military(retired included) and bought the discounted one for my son. I have set aside $100 a month so I could pay for and we can enjoy our trip. I got the tickets in June and are good thru 31 Dec. For someone who hates the cold, Christmas time is Perfect time to be in Florida.

Do you count on a bonus? NO Bonus I am now retired.

Do you worry about it as Christmas nears? Not really.
Keep in mind I worked my buns off to be debt free by 1999 and have stayed that way thru my frugal ways so I can afford to splurge on some things and still keep a roof over my head.

w

We take money out of our income tax refund and put it up for Christmas, so I've had it since April. Years ago I used to do the wait until Christmas is nearing to worry about it and that's part of how I got into credit card trouble. Now I do use my credit card for the perks, but I have the cash to pay for it put up already.

I take money from every paycheck and transfer it to a Christmas account. It has worked for us for the past few years.

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Every month, money automatically transfers from our checking account to our online "Christmas Fund" savings account. As I start Christmas shopping, I transfer that money to my online checking account with that same bank, and use that debit card strictly for Christmas-related expenses and gifts. If and when I have extra $$ in there afterwards, I put it toward the cc.

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Attaining financial freedom is like eating an elephant . . . it takes one bite at a time.

NO! I had to really prioritize my life a few years ago and Christmas was one of those times during the year that I ended up dreading, hating, and would be HAPPY when it was over. We would spend money that we didnt have on gifts for people that they didnt appreciate and gifts for the kids that would get played with once and then left around for me to pick up.

So we changed it. We buy our kids like 3 gifts each. And then one from Santa. We only buys gifts for the gift exchanges and thats it. Nothing extra.. and I tell our family to not buy us anything extra because we are saving money and would rather SPEND our TIME together as a family... not blowing money on gifts. I prefer memories over material possessions.

Suggestions- encourage the family to just do kid exchange NO adult exchanges.Its more fun for the kids. Make it a tradition. Then you only have to buy as many gifts as kids that you have. Get THEM involved in the process.

I couldnt stand how greedy my kids were becoming.. ripping through presents, asking for more, and no respect. Thats not what its about. We changed birthdays too. We spend the day as a family celebrating the day we added a new member... not blowing money on birthday parties handing out goody bags of junk to a ton of kids serving out cake to the free world. Dealing with tons of company.. no thanks! We go out to eat or make dinner as a family. And spend time making a cake at home and eating it with ice cream that didnt cost me an arm at Chuck E Cheese.

Quit wasting money.. make memories.

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~~Ember~~
Mommy to Bailey 10/02, Brooke 9/04, & DJ 6/06