Save A Cool Grand Before the Holidays

Can you believe it?  The holidays are coming, whether we’re ready or not.  And so are the bills that come with it.  Want to find some extra money in your budget to avoid debt this holiday season?

Kiplinger came up with some tricks for the months of October and November that could save you $1000 by December.  (Here’s the fine print where the announcer speaks really, really fast:  “Your actual savings will vary depending on which ones you can implement.”)  But the money-saving tips are not unrealistic.  Here are a few of them, along with Kiplinger’s estimated savings:

  • Adjust your tax withholding. If you normally get a big tax refund every year, stop paying Uncle Sam too much throughout the year and keep it for yourself to pad your holiday fund instead.  TWO MONTHS OF SAVINGS = $484 (based on the average refund)
  • Live off your grocery stockpile. Have you looked in your pantry or freezer lately? Chances are there’s enough food in there to last you at least a couple of weeks (unless your teenagers invite their friends over and they’re always eating all your food).  So try skipping one weekly trip to the grocery store. TWO MONTHS OF SAVINGS = $100 (one week; $200 if it’ll get you through two weeks)
  • Eat out less. This is a biggie.  The convenience of dining out can be a real budget buster.  Don’t quit altogether, but cutting out just a couple of times over the next two months will save you a lot. TWO MONTHS SAVINGS = $100
  • And you can also save by increasing your auto insurance deductibles. That can reduce your premiums by 12% to 18%. TWO MONTHS SAVINGS = $108

Add up the savings from these money-saving tips, as well as others from Kiplinger, and you could discover you have that extra money this year to pay with cash rather than credit.

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