3 Reasons to Start Saving for the Holidays NOW
The holiday season is filled with family get-togethers, meeting the parents, spiked eggnog, and of course gifts! Get your brother, girlfriend, or bestie what they really want and start saving now. Yes, now! Here are 3 reasons to start saving for the holidays:
1. Avoid FOMO
Some shoppers suffer from a severe case of what I like to call FOMO. They feel like if they finish shopping too early that they won’t get to take advantage of the best holiday deals. I have good news for all of you FOMOs out there—it’s just not true! Black Friday sales are hard to pass up but the reality is that retailers have deals going on all year. Black Friday is merely a way to seduce you into purchasing items that really aren't that discounted. Depending on the product and retailer, it might be wiser to wait. Vualá! No need for FOMO.
FOMO /ˈfômô/ noun. "Fear of missing out." Anxiety that an exciting or interesting event may currently be happening elsewhere, when you aren't there.
2. Swiper no swiping!
Swiping your credit card left and right mindlessly at the mall can get you into some big trouble. You may be thinking, "Wow this is such a great holiday deal!" *swipe* but don't give in to the urge! Step back and think. Will I really be able to pay this off later? Am I really getting the best deal here? Instead of spending all your money at once and not being sure if you'll be able to fully fund the gift, pay with your savings—not credit. That way you won't CRINGE when you look at your bank account after purchasing presents. No more swiping = No more guilty shopping.
3. You'll still be able to enjoy the finer things
Usually people sacrifice things around the holiday season so that they can afford to buy their friends and families gifts. I have good news for you... YOU DON'T HAVE TO DO THAT ANYMORE! If you start being smart with your money now and make daily deposits of $2, $5, or $10 you can still enjoy a Starbucks Gingerbread Latte or a fancy bottle of Pinot Noir later down when you get the urge to treat yo' self. This also means that you'll still have a good amount of social funds to spend later down the road when you ring in the new year! You'll be able to buy a table at your fav club, bottle service, and maybe even get that New Years kiss a cocktail... or two.
The bottom line is that thinking about the holidays two months prior can seem a little extra, but you have to admit its right thing to do. People who start putting away money now get to enjoy the bulk of the holiday season without suffering from FOMO, over spending, and sacrificing the things they like the most. They also save a bunch of money in the process. It's a win-win across the board, so why not start now?