It’s not too late to budget for Christmas—and it’s the perfect time to start budgeting for Christmas 2015!

Whether you only have a few more gifts to buy—or all of them—you’ll save money by setting a budget NOW.

Budgeting is simple and effective, yet most people never do it and end up with huge credit card bills in January. The first step is deciding how much you can afford to spend on gifts. Once you have that figure, subtract what you’ve already spent. Then you know exactly how much you can spend on remaining gifts. Now make a list of remaining gifts, allocate an amount to each, and make sure the total stays within budget. Then—most important of all—stick to your budget!

For Christmas 2015, use the same method. But this time you can save the money you need in advance. Once you have a total gift budget, divide it by 12 and set aside this amount every month throughout 2015. By the time next Christmas rolls around, you’ll have all the gifts you need—and they’ll already be paid for!

While you’re preparing next year’s budget, consider incorporating some of these money-saving tips. After all, the more you save, the more money you’ll have left over for long-term investments, like kids’ education and retirement.

• Use credit card points to buy gifts. Treat your points rewards as enforced saving, then allocate them for gift purchases (but still stick to your budget).
• Collect all your quarters in a jar instead of spending them. By next Christmas, you’ll probably have enough to buy several gifts.
• Every time someone gives you a gift card during the year (for birthday, Mother’s Day, etc.), save it and use it to buy Christmas gifts for others. This lets you enjoy the gift of reduced anxiety!

If this year’s Christmas spending is already out of control, talk to me about using affordable mortgage rates for a debt consolidation loan in January. I can also help you set an overall budget for 2015 so you can avoid future problems.

Kupina Mortgage Team – www.kupinamortgage.com