Planning for retirement #GenworthUSA

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**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.

How to Save During the Holidays

  1. Write out a full budget.
  2. Decide what you can afford to spend on special meals and gifts.
  3. Cut 10-20% out of the allotted amount for each holiday category.
  4. 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?

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About Sara Phillips

Sara Phillips writes about her kids & husband, recipes, life, and activities. She also enjoys writing reviews and hosting giveaways. Sara and her family live in San Antonio, TX.

Speak Your Mind



  1. So far we just have my husband’s 401k but we need to do more. Holiday spending is so hard. especially when you haves husband that wants to give to everyone.

  2. Absolutely great advice about holiday budgeting. It never fails, I go over every single year, and it’s because I don’t bother to write it all down!

    I’m taking your advice this year. Who knows, that extra 10% might look a little nicer added to our retirement than under the tree!

  3. Cutting 10% and adding it to savings is SUCH a smart move! I haven’t really budgeted for Christmas before {the first few years it was “spend as little as possible” and then after that I kind of went a bit crazy} but with baby coming just a month later, we’re definitely sticking to a budget this year!

  4. Thankfully we have never been huge holiday spenders, but I have friends who spend a FORTUNE…. I dont get it.

  5. I am horrible at budgeting for Christmas and planning for retirement. I need to resolve this year to do better with that.

  6. We have my hubby’s 401k and we need more but we are both bad about that. We need to get on it.

  7. This is a really great way to help curb holiday spending! I always have the best intentions.. then go overboard at the last minute because I get worried that it’s not enough! Saving that little bit for retirement could really add up!

  8. I definitely need to put more thought into my retirement plans. I don’t think of myself as getting older, but the number is ticking up!

  9. I agree that we need to set budgets on holiday spending, and spend even less. Remember the Christmas Club savings accounts from way back when? They still exist, and they come in handy. At least I think so…

  10. I try to budget my holiday expenses. I have a 401k and so does my husband but we really need to start putting more back.

  11. Great ideas!! We need to look into this!

  12. Cindy Dawkins says:

    Thanks for the great advice!

  13. We are currently tightening up things as we try to buy a house that will hopefully be our stability when we retire.

  14. Holidays aren’t too much of a problem for me because I only have to buy for my kids. I won’t charge a thing either!

  15. These are great tips! i think a little bit of planning ahead of time can make all the difference.

  16. I love this idea. Anyone can make a plan and then cut 10% from the top, that is a really smart way to go about saving!

  17. We always SAY we’re going to budget, but usually fail at it. This year we decided to put the money toward our children’s savings. Now..if we could just get our OWN future savings in order we’d be doing great. Definitely #1 on our to-do list for 2014.

  18. Great tips! We like to set aside a little bit from each paycheck for several months prior to Christmas. But this year we had too many expenses so we are flying by the seat of our pants.

  19. Ugh, why didn’t I read your post LAST week BEFORE starting my Christmas shopping??!!?? I got a little deal-crazy this week, which of course turned into a little unnecessary spending, since I wouldn’t have bought some things in the first place if they hadn’t been on sale. That’s money that could have gone towards retirement savings!

  20. We withdraw cash for our holiday spending. It keeps us within our budget knowing EXACTLY how much we have to spend. If we used our debit/credit cards, I know we’d go over budget so easily.

  21. That’s an awesome plan, Sara. It’s similar to what I do when I pack for a vacation! I always overpack, so now I take out like 20% of my clothes when I’m done. :)

    Great way to save and the 10% you cut out probably doesn’t even hurt you that much at the time, but it certainly helps in the long run!

  22. Budgeting is crucial when it comes to buying for holidays or for saving for your future. We always save 10%, donate 10% to our church and then the rest is budgeted out from there. Holidays included.

  23. Great tips! I need to make a habit of cutting 10% year round.

  24. Great tips! I pretty much do what you do. If I am ordering something online, I will check ten different sites to make sure I am getting the absolute lowest price possible! I never spend the whole budget. One year, when my kids were too little to really ask for specific things, I made their list based on black friday deals. I bought $1100 worth of product (for them, my husband, brother, nieces, etc) and only spent $575.

  25. I admit I am terrible about holiday expense budgeting. Thankyou for the reminder to keep track of what I spend! We try to put away every month for retirement but it definitely gets tricky this time of year!

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