Does the sight of a Christmas tree make you want to hurl? Does it make you cringe to even think about Christmas? I can just hear some readers screaming, "it is 347 days away for crying it out loud".
What makes me cringe is realizing how much we spent on Christmas in 2010. Since we use credit cards for almost all of our purchases, we are paying the bills now for our Christmas presents. And even though we have the money to pay the bills off completely, I am still a bit queasy as I push the send button on my online bill payer.
As an experiment, I switched to cash in 3 categories: groceries, dining out and clothing on January 1st. I have now decided to add gift giving to the list of cash categories. I added up what we spent on gifts for the entire year in 2010 and reduced that by 20%. I then divided that new number by 12 and that is the dollar amount that I am going to transfer to a savings account every month. I'll use that money through out the year for birthday gifts along with Christmas presents in December.
I'm hoping that if I plan now, I'll spend less later.
Have you started to think about your Christmas spending for 2011? It is only 347 days away.
If you would like to receive FREE updates of FBS, there are four ways to do so:
- through your RSS Feed
- have updates sent to your email,
- become a fan and 'like' FBS on Facebook
- become a Twitter follower
Image: Paul / FreeDigitalPhotos.net