save extra $1,000 before Holidays
02Oct

Top Tips on How to Save an Extra $1,000 before Christmas

Christmas is less than three months away, and heavy spending. The good news is that you can start preparing right away. You could have an extra $1000 to spend during the holidays, if you start saving now. Here are some tips that can help you save enough for Christmas

Save at least $ 333 per month

With the holidays only three months away, you can divide your target amount, set aside at least $333 every month, or $84 every week. With such saving you will have reached your target by December. Your Christmas holidays will be stress free and more enjoyable.

If you can afford to save more than this, all the better, you’ll reach your target earlier than expected allowing you to save for other expenses or investments.

Let Christmas be one of your budget items

The Christmas holiday should not be an afterthought; it should be an expense in your budget. With this mind-set you can easily reach your target.

Adjust your spending

Look at your budget and see what can be adjusted to help you achieve your targets. There are some items which can be reduced or tweaked to allow you save more money for your target Christmas savings. You could reduce the amount spent on Entertainment, cut back your entertainment expenses or do away with it for the rest of the year. Most of the money that you are saving will go towards ensuring that you and your family have a good time this Christmas.

You can also adjust the budget by purchasing cheaper alternatives of common items. You could buy home brand items to save on expenses such as food and clothes. Do this for several items and your target could be reached within a short time.

Earn extra money

It may be difficult adjusting your budget; this means that more income is needed to bridge the gap. There are several ways you can earn that extra income. You can start a side hustle where you offer services during your free time.

You can engage in jobs such as house sitting, or pet sitting. These extra efforts can earn you enough to help save your target amount. Even after the target is reached, you can continue these jobs to increase your income throughout the year. This will make it easy to save for the next holiday or event.

Disclaimer: The above information is general in nature and not intended to be advice. You should consider seeking professional advice before following any suggestions in this blog/website.