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Originally posted at Christian Post November 27, 2015.
I’m worried about how to cover the costs of Christmas. I know I should have been saving through the year, and I have some money set aside but do you have some suggestions on how to get some resources together to have more money available over the holidays?
A Concerned Mother
Dear Concerned Mom,
You’re not the only one thinking through how to make the best of the holidays. In fact, more than 90 percent of Americans will celebrate Christmas or another holiday this season, and many of us feel pressure to appropriately provide gifts for those we love. According to a recent Gallup poll, people are planning to spend an average of $830 this year on Christmas gifts. In an ideal world, that would mean that most of us would have set aside $75 a month to be ready to go at the end of November when a lot of sales begin.
It’s important to start your shopping list with a clear plan and budget that you develop, as retailers will work hard to convince you to do more than you initially were comfortable purchasing. Retailers make about 20 percent of their annual profits at this time of year, so be careful to buy purposefully and avoid the glitter and pressures of the season!