It may seem like months away but yet it always seems to sneak up so quickly, settle in like a tornado and then depart leaving us a little heavier in body and lighter in the wallet. Here’s how to get a jump on the holiday season to make for less of a dénouement in the new year.

3 Simple Steps:

1. Planning (aka budgeting)
2. Start Saving Now
3. Check Your Progress

They sound simple but are they?

Planning – What do you plan to spend for gifts, travel and seasonal entertainment such as work functions, theatre, parties and get-togethers?

Start Saving Now – Based on the total you calculate in the Planning Step, divide by the number of pay cheques between now and the end of December – can you set aside this amount each pay cheque? This is typically a slow time of year which makes it a good time of year curb regular spending in favour of the festivities of the holidays. Set aside what you can into a separate account that you’re not tempted to ‘raid’.

Check Your Progress – Check your account balance against your target to see how you’re doing. If it’s unlikely that you will reach your target, now is the time to adjust your plan.

The bad news is that to be successful, it still takes some self-discipline but good news is that there are two months before the holiday season is here AND if you save what you plan to spend and stick to your planned spending….you will have the money set aside to pay your post-holiday bills!