Prepare Christmas Expenses as Early as September With These Tips

2:11:00 PM Rhea Mocorro 0 Comments

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We all know how expensive Christmas is in the Philippines. There are the usual gift giving not only to the immediate family members but also your friends. Almost everyday there are celebrations in different houses. Not to mention the varied Christmas parties you need to attend.

The holidays seem like a stream of celebrations to us Filipinos. And that only entails cost that builds up over time. No wonder, this is also the most expensive season because of the many expenses the holiday entails.


Some might find comfort in using their 13th month or 14th month. While there’s nothing wrong with spending it of course, it would be ideal to use it for something better than using it to buy food and gifts. The key here is preparedness. We all know after all that the holidays will always be on December. Hence, as early as September we need to be able to allocate funds already for holiday related expenses. Here are tips to help you with that.

Tip 1: Create a sinking fund. A sinking fund is a temporary savings for a future expense. In this example, that future expense would have to be the holidays. You can easily setup a sinking fund whether in your bank or just your piggy bank. The key here is consistency. In order to be consistent, you might want to set aside a specific amount every week, payday or every month. You can have say for instance 2,000 per payday and that can dramatically add up before the holidays. Make sure your sinking fund is secured should you decide to put it in your house.

Tip 2: Budget. In case you are not a fan of having a sinking fund, you can opt to readjust your budget as early as now in order to fit in the holiday demands. Look at how your budget works and see where you can do some workaround. For instance, if you have a big chunk of budget for other expenses like groceries, you might want to set a specific percentage dedicated for the holidays.

Tip 3: Buy Today. In case you are not keen in saving up for the upcoming holidays, you might want to consider buying already a few items in advance. This is particularly an ideal solution in order to avoid traffic and the usual shopping rush. For instance, you already know the persons to give gifts this Christmas. As early as now identify the gifts you would want to give to them. Each month or whenever money is enough, slowly start buying those gifts rather than having a one-time gift shopping. For example, set the month of September to buy presents to your spouse, the next month for family members and the next next for friends. This is extremely helpful so you will not be draining your money at once.

Tip 4: Scour your Closet. There are surely great things lurking in your closet that you can opt to give instead as presents. This is a good way to lessen gift giving cost as you will only spend preferably for the ribbon and wrappers. Instead of buying new things from stores, why not give something you already have? You can repurpose your old dresses, skirts or toys and clean it up and give it to others who will surely put these things to better use.

These are just some of the tips you can implement before the influx of holiday expenses. The important thing is to prepare early and adjust your finances accordingly. These will help you save a lot in terms of hassle and most especially in terms of money.


P.S To those doing the 52 Week Money Challenge, it is Week 38 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too. 


P.P.P.S I am also sharing my stock market secrets and information via these resources

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