Christmas can be a stressful time of year for financial reasons. It can feel like you’re in your very own financial crisis!Not only do you have all your regular bills to pay but you’ve got to come up with extra money for gifts and for social gatherings too.

How do you deal with budgeting at Christmas time?

Besides the typical advice of drawing names, doing pot luck meals to save on groceries and making homemade gifts, here are some tips for you to get ready for next Christmas.  You’re arleady in the thick of it for this year if you’re reading this post at the time of publishing so do what you can to get through it but plan ahead for next year.

Start Planning For Christmas In January

In January, hit the sales on stuff for next year. This includes gift wrap and bows but it can also include stocking stuffers and gifts for next year. Throughout the year as things go on sale you can pick them up and put them away. This will not only save you money but it’ll save you time too.

Open a Christmas account in January and put money away all year.  If you decide you’re going to spend $1200 on Christmas, put $100 in the Christmas account each month. This way, you’re not stressing, spending everything you earn and putting Christmas on credit come November / December.  This Christmas money can encompass your gift list, your groceries and your decorations and other related expenses so that your regular earnings around the Christmas season aren’t impacted.  If you are someone who receives a Christmas bonus from work, don’t factor that amount into your budgeting and that’ll give you some extra wiggle room during the holidays if an unexpected expense or unexpected gift comes up.

Another wise idea is to save your change in a jar for the year and towards the holiday season either roll it up to use for your Christmas grocery treats or put it in one of those Coinstar machines that allows you to use it for a grocery store gift certificate.

Little things done throughout the year can definitely make the season more enjoyable and less of a financial burden. Merry Christmas!