We’re 3 months away from Christmas – how does that make you feel? For many, Christmas can be a time where there are all the extras and so without a plan we can end up overspending. As a certified financial coach I love helping people feeling clear about their finances and this often includes some planning and thinking ahead.

Here are 5 tips to get yourself on track ahead of Christmas so that you can start January in control rather than wondering where your money went.

  1. Calculate and Save Accordingly:
    • Begin by estimating your total Christmas expenses: gifts, decorations, travel, and festive meals included.
    • Divide your total estimated cost by three (for the 3 months we have left), setting a clear monthly savings target.
  2. Use a Dedicated Savings Account:
    • Consider opening a separate savings account or using a budgeting app feature dedicated to your Christmas fund. This separate pot of money will prevent accidental or impulse spending from your main account.
  3. Plan and Shop Early, Stay Alert for Bargains:
    • Start your gift shopping now, making the most of sales, discounts, or even exploring quality second-hand options.
    • Keep an eye out for special shopping events like Black Friday and Cyber Monday for potentially significant savings.
  4. Re-evaluate Subscriptions & Memberships:
    • Take a moment to review all your recurring expenses. Are there magazines, online platforms, or gym memberships you’re not making the most of?
    • For the ones you wish to keep, always check for promotional deals or even consider negotiating for a better rate.
  5. Mindful Shopping & Gift Budgeting:
    • Sketch out a gift list early on and decide on a budget for each individual.
    • Use any available sales, promo codes, or cashback offers to your advantage. Remember, buying over time can ease the financial load compared to last-minute shopping.

By following these tips, you can hopefully go into Christmas without the stress of unexpected financial strain and start January with a smile.

For those of you wanting to tune in with your spending, my journal to improve financial well-being will be a good companion over the next 3 months.

I help high-achieving women get financial clarity, so they can live well today while building wealth sustainably for the future. For ways to work with me click here.