Have you ever had those panicked moments at the end of the year, towards the holidays, when the gift-giving season is approaching fast and you have tons of loved ones to snag awesome presents for? Instead of stressing about the holidays at the last minute, plan ahead with a savings and shopping plan that allows you to invest in holiday gifts the whole year round.
Make a Gift Plan for Every Birthday and Holiday, for Every Loved One, at the Beginning of the Year
Sit down at the beginning of the year and make a list of your loved ones—their interests, passions, hobbies, and wants included. Then create a tentative list of things you’d like to give them as gifts for the following holidays. Of course, this list is not set in stone because things change throughout the year, but it helps to anticipate so you can better prepare for impending gift-giving seasons. For instance, your hubby might love inner beast clothing for the gym. Or, your bestie might be thrilled with a tea set of all her favorites.
Whittle the Gift and Recipient List Throughout the Year
As mentioned, there are some instances where gifts and recipients will change throughout your year. Therefore, you should strive to keep the list updated month to month.
For Coworkers and Acquaintance Gifts, Buy a Gift Card Every Month Until Christmas
There are some gifts that you simply cannot plan for, like the Secret Santa at work, or a new acquaintance, like your cousin’s new girlfriend at the family Christmas party. For these occasions, buy gift cards throughout the year. One a month should be enough to dole out for Christmas. Moreover, what you don’t give out, you can use for yourself or save for next year [check the expiration dates though].
Stow Away 10-Percent of Each Paycheck as a Budget for Holiday Presents
This is a big one. To better plan for the holidays, without shopping now for presents that might change, put back 10-percent of your paycheck for each paycheck from January to September. Then use the saved money and remaining months of the year to budget out holiday gifts for your loved ones.