Start Saving Money for Christmas – The Painless Penny Pinching Plan

saving money for Christmas

I'm convinced the winter blahs are a combination of freezing cold weather and credit card bills rolling in from Christmas!

If Christmas bills are getting you down, it's time to come up ways to save for next Christmas! It's time to try The Budget Diet's painless penny pinching plan.

According to the American Consumer Credit Council, the average American family spends $935 on Christmas gifts, so if you can save around $78 a month – you'll be set! Pick just 1 item from my painless penny pinching plan, and you'll save at least $78 each month – it's an easy way to save money for Christmas!

Christmas Club
Open a Christmas Club account at your local bank or credit union. It's a simple way to save and earn a little interest. Most Christmas Clubs will set-up an automatic deposit from your paycheck in the amount you choose.

Brown Bag It!
The average lunch out costs $8, so if you'll brown bag it on Monday, Wednesday and Friday – you'll save $96 a month!

Make Your Own Starbucks!
Does your morning routine include a trip to Starbucks? It's time to kick the Starbucks habit and start saving about $3 a day or $90 a month! For $90 you can buy a coffee maker, Starbucks coffee beans, flavored coffee syrups and even whipped cream if you so require! After your first month as a coffee brewmaster, start stashing the cash for Christmas!

Credit Card Rewards
Does your credit card offer a rewards program? Cash back? Points? If you can be good about paying off your credit card bill in full each month, you might consider using that credit card for all your purchases, and then use the rewards to purchase gifts!

$5 Jar
This is the old fashioned coin jar adjusted for inflation! At the end of each day, place any $5 bills in the jar. At the end of the year, you should have more than enough money for Christmas, and it will be even more fun than counting coins!

Ditch the Drive-Thru
Try going 1 month without going to a drive-thru for any food or drink, and put all that money in a jar! It's sadly become the American way, and you might be shocked to discover how much you're wasting! Is it really necessary to drive-thru for breakfast???

Get Serious About Grocery Savings
You'll easily cut your grocery bill by $50 a week if you start using The Grocery Game. The Grocery Game shows you what’s on sale, and tells you where to find the coupon to make it even cheaper or FREE! You'll soon be a coupon queen!

Eat In, Not Out
Growing up, eating out was for special occasions. This year, bring back the home cooked meal! If your family eliminates just 1 dinner out per week, you'll save over $100 a month!

Buy 1 Gift Each Month
There are no rules that say you have to do all your Christmas shopping in November and December, so start trying to buy 1 gift each month! If you see a bargain, snatch it up, and don't forget about it come December!

That's it, just pick one and stick to it! If skipping Starbucks is not your idea of painless, then try the $5 jar. If you're not sure what to pick, try something new each month! Why don't you ditch the drive-thru this month and brown bag it next month!

Please leave a comment to share your ways to save for Christmas.

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Amy @mommetime
11 years ago

we do not use credit cards during the holidays; we don’t use credits for personal purchases… my better half is ANTI-credit card. I do however save my dollars and change, and put it into a jar at the end of the week or sooner, depends on how heavy the purse gets 🙂

I love the brown bag it suggestion, I bet we spend close to that each month; I hadn’t given thought to it –great way to save money. Thanks for sharing.

11 years ago

These are such great tips, and so easy to do! It’s amazing what we can save by skipping a few indulgences here and there!

Sharon Green
11 years ago

You have great tips that are doable too! I try to cook all the food we eat and I actually have a great ice cream store right next door to me which I barely go to; maybe once in 6 months!

11 years ago

These are awesome tips – a must try to save for holidays 2013!

11 years ago

I haven’t even thought about saving for Christmas – and I’m always scrambling trying to come up with something. My mom and I do have a change jar and we save about $100 every 3 months. I think that I should make a new envelope and start saving – thanks for the ideas!

11 years ago

Great suggestions. About 10 years ago I ditched fast food, coffee out, and ate healthy with fresh ingredients when possible. Living in California definitely helped, but I lost 105#, feel better, and have saved enough to travel to Europe for a month for FREE 4 times. Comes down to priorities whether cooking for one or a crowd. Thanks..we all need reminding now and then.

Pam from Two Loons
11 years ago

What great tips. Whether you’re saving for Christmas or not, these are the little things that really add up. I also love the idea of buying one gift a month. That way it doesn’t hit the wallet so hard all at once.

Karen Dawkins
11 years ago

Great tips. I shop throughout the year for Christmas and save a lot. My husband usually asks how much I saved on his big gift! One year, I got his big gift for 90% off using a combination of credit card rewards, coupons and in store specials. 🙂

For those who shop often on Amazon, using their credit card racks up rewards quickly. When the kids were more into toys (and I homeschooled and needed lots of books), I did my Christmas shopping almost exclusively with Amazon rewards. Great for the budget!

11 years ago

I could save a FORTUNE if I gave up my coffee! Will try to give up at least a couple of them and see how I do…!

Debbie Hickerson
11 years ago

I have saved over $150.00 in less than six months just by collecting loose change from the washer /dryer and the bottom of my purse!

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