3 Ways to Start Saving for Next Christmas Now
Published on December 23, 2024
•4 min read
It may seem strange to start thinking about next Christmas when this one is barely over, but getting ahead now could save you time and money next year.
Whether you want to stop overspending or put more thought into how you save during the holiday season, we have three money-saving strategiesthat can help make the holidays easier on your wallet.
Gifts You Won’t Use
Regifting has a negative connotation, but it does not have to be that way. The reality is, between multiple Christmas parties and family gatherings, you might end up with a few things you already have, don’t need, or cannot fit into your lifestyle.
Consider starting a “regift” bin. Find an empty corner of your closet, grab a small storage bin, and keep the things you don’t need or won’t use in there. This is a great way to have things stowed away for next year, which you can use for the office Christmas party swap, or to fill a stocking in need of some extra love.
A regift bin can allow you to participate in events when you otherwise may have struggled to make it all financially work. People who keep regift bins will often take advantage of holiday or post-holiday sales to stock up on items at a discounted rate that can help them get ahead of holiday needs and prepare for whatever gift-giving needs get thrown their way.
Repurposed presents can come in handy regardless of the season, if you have items that can be used for a birthday, graduation, a new home, retirement, or any other celebration that pops up.
And don’t be afraid to throw a gift card in the regift bin. If you’re not going to use it, you might have the perfect person for it in the future!
Decorations and Gift Supplies
Buying decorations, wrapping paper, tissue paper, bags, tags, and all the items that help you pull off a magical Christmas can get expensive and create clutter.
When it comes to decorating your home, evaluate what you have and ask yourself if you see it hanging up in your home for the next 5, 10, or 20 years. If you think you may get sick of it, it may be time to sell or donate it.
Use this same method the next time you see a decoration in the store that you want to buy. This will help you understand if it is a valuable purchase for you, plus you will be forced to evaluate your storage situations and solutions.
Do your best to maintain the life of your decorations so you’re less likely to purchase new ones each year. Secure a storage container (or a few) that is sturdy, use old newspaper to wrap everything up safely, and find a place in your home where your decorations can stay for 10 (or 9… or 8) months out of the year.
Take the same approach with your gift wrapping and supplies. You don’t need to save the wrapping paper for every gift wrapped but keep the roll of unused wrapping paper to utilize next year.
Don’t be afraid to reuse gift bags in good condition and tissue paper that was barely used or unused completely. A package of tissue paper can last a few years, depending on how many gifts you are buying. Again, a storage bin can hold this stuff for you until the next holiday season.
Same as with gifts, check out post-holiday clearance sales and grab some gifting supplies that are heavily discounted to throw into your storage.
Start Your Savings Now
Another great way to save on your next Christmas, start saving now!
You know how much you’ve spent on Christmas gifts, food, and other needs this year. Whether it was an expense you expected or one you do not want to repeat, establish and activate a savings plan early to help you ease into holiday spending comfortably next year.
A Christmas Club account with Metro Credit Union allows members to make weekly or monthly deposits, including one-time deposits, into an account specifically made for this time of year. Your deposits are locked until October 1, to help you ensure that the holiday money will be there and ready.
The best part—you choose what you deposit! Adjust your deposits as you need, add more or pull back, and have what you need to do your holiday shopping when it’s that time.
Saving $20, $50, or $100 a month now, instead of scrambling to find the funds in December, will allow you to enjoy your holidays more. Saving over the year increases your spending power and presents fewer financial restrictions that come with last-minute spending.
Plus, whatever you don’t spend can roll over into the next holiday. Ready to open your Christmas Club account? Connect with Metro Agent inside the Digital Branch to learn how you can open your account today!
