**Full Disclosure: This post is brought to you by Brandfluential on behalf of Genworth Financial. All opinions are my own.
I am the first to admit that sticking to a budget for the holidays is no fun at all. And trying to save money can be extremely difficult, but I would like to think that I can do it. So I want to share how I budget and save during the holiday season.
- Write out a full budget.
- Decide what you can afford to spend on special meals and gifts.
- Cut 10-20% out of the allotted amount for each holiday category.
- Put the 10-20% in savings and only spend what’s left on food and presents. Not too bad, right? If you cannot afford to cut 10-20%, cut what you can. Anything you can save helps, right?
If you subtract a percentage of your budget categories every year (or month!) and put it into a savings account, you could have a nice chunk of change to add to your retirement account!
It’s easy to put those four steps into action and I am excited to see how much I’ll save this year. And perhaps next year I can save even more!
Planning for retirement makes my brain spin. There are so many things to consider and do.
You’ll need to:
- Calculate how much money you need to retire
- Figure out how and where to save that amount
- Start investing
- Stick to monetary goals
The average American spends about 20 years in retirement, so it’s essential to read over the 12 Important Retirement Planning Deadlines. Genworth tells us that a retirement strategy can help keep up with inflation and rising expenses. This is important so you don’t get stuck without the monies you need in your golden years.
Start implementing your retirement plan as soon as possible so that you are prepared when it’s time to retire.
I like to plan for my holiday expenses, but it’s also important for me to remember to prepare for retirement all year long – not just when it’s convenient!
How do you handle your holiday finances? Do you save any portion or do you spend the whole budget?