Continuing on the Christmas in July theme from last week (did I mention Christmas is my favorite?!?), I’ve got a great tip to share about how to help you start saving up for Christmas gifts later this year! If you’re like me, all the sudden it’s Thanksgiving and Black Friday hits and you realize you didn’t set aside any money for buying gifts. It’s the worst feeling! Here’s a strategy that works for every budget to help you save money little by little without feeling like you’re having to give up a ton every week! And this doesn’t just have to be for Christmas, it’s great for saving for anything like a fun trip, a car, or a pair of great shoes you saw at the mall! Personally, I used this strategy a couple years ago to save up money to pay the hospital bills for when my daughter was born.

      We’ll start with a smaller budget. Create a new savings account at the bank (or just an envelope at home) to put aside your Christmas Money into. If you start this week, there are 25 weeks until Christmas, so once a week you are going to make a small contribution to this fund. You’ll start super small! Only $1 for week #1! Then for week 2, you’ll add $2. Week 3 is $3….you get the idea. It doesn’t seem like much, but it really adds up! By Christmas with this method, you’ll have saved $325. Here’s a chart so you can see what I mean (did I also mention I am a nerd who LOVES using Excel?):

      Week #Amount to DepositTotal Saved
      111
      223
      336
      4410
      5515
      6621
      7728
      8836
      9945
      101055
      111166
      121278
      131391
      1414105
      1515120
      1616136
      1717153
      1818171
      1919190
      2020210
      2121231
      2222253
      2323276
      2424300
      2525325

      Here’s another version, but this time you start with $5, and add $5 every week. By the 25th week, you’re still only contributing $125, and you’ll have $1,625 to spend on Christmas gifts! Honestly, I’d probably spend half on gifts and the other half on myself 😉

      Week #Amount to DepositTotal Saved
      155
      21015
      31530
      42050
      52575
      630105
      735140
      840180
      945225
      1050275
      1155330
      1260390
      1365455
      1470525
      1575600
      1680680
      1785765
      1890855
      1995950
      201001050
      211051155
      221101265
      231151380
      241201500
      251251625

      You can, of course, adjust the amount in column 2 to you’re own budget and to achieve the final amount you’d like to save.

      Do you have some other tips on how to save money? I’d love to hear them!

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      COMMENTS

      You are so organized! Glad I came across your site in my search for a Michigan photographer!

      This is a really great chart for saving that Christmas money. Your Michigan Families can use that money saved to not only purchase great gifts for loved one, they could hire you to produce amazing family photography galleries!!

      What a great chart and way to save money for Christmas! Thank you for providing this information. A great bonus is having money to save and spend on a family photographer. Michigan is so lucky to have you

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