Ask Away Blog: How To Stash Cash for Christmas Gifts in 5 Easy Steps

How To Stash Cash for Christmas Gifts in 5 Easy Steps

Tuesday, November 6, 2018


How to stash cash for christmas gifts in 5 easy steps

Everything is going so smoothly with your finances and then out of nowhere THE HOLIDAYS ARRIVE! It's time to panic because some how you realize you have no extra money for gifts for everyone on your gift list!  It's a terrifying thought and because of that, we tend to charge everythign to our credit card.  

But, there's another way to build up your Christmas cash stash.  Actually, there's 5 of them.  If you don't even know how much money you'll need, check out my FREE Printable Christmas List and Budget.  I always fill mine out right after Summer so I have plenty of time to work with the money I have saved up so far. 

So how do you get the money set aside for gifts? 




1. Use Cash Back Rewards
If you are savvy with a credit card and you pay off your balance each month, then that's all the more reason for you to choose a card with cash back rewards.  At the end of each month when you get your rewards you can transfer them into a designated share in your bank account and name it GIFTS.  Throughout the year when birthdays, special occasions, and holidays come up, you'll be able to tap into your gift fund without having to worry. 


Receipt used to get cash back

2. Use Receipt Rewards
I love ibotta and Receipt Hog. ibotta gives you cash back every time you upload a receipt wiht qualifying purchases from specific retailers.  It may not be a ton but it's better than nothing and it's a great way to add money to your gift fund.  Receipt Hog lets you upload a receipt from pretty much anywhere in exchange for a small amount of change but if you do it EVERY time you shop, it will all add up at the end of the year.  If you have a big family you definitely want to take advantage of these 2 apps with all the shopping you likely do each week. 

3. Stash Gift Cards
If you receive gift cards on a regular basis for places you may not use, don't be afraid to re gift them.  You can also use them to shop for other people if you think you'll find something they would enjoy at the store.  I love doing this because I feel like my gift card didn't go to waste on a pointless purchase for myself on something I don't even really want.


4. Work Overtime or a Side Gig
You can earn extra money by putting in a few hours of overtime each month if your company allows that or just take up a side gig like being a rideshare driver, selling things online, or doing little odd jobs for neighbors and friends.



5. Set Money Aside from Your Paycheck
If you set just $20 aside from each paycheck, it really adds up by the end of the year.  It can be over $200 by the end of the year just from that alone so don't be afraid to stash cash early on before you even think of any special occasions coming up. 

With a little planning throughout the year, and a little action on your part, you can successfully save up money for the holidays so breaking your budget is NOT going to be on your TO DO list for the holidays.  

How do you save money for gifts? 



Be sure to check out my book, Fixing Your Finances on Amazon as well as signing up for my FREE budget spreadsheet and debt tracker!



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2 comments:

  1. I take advantage of the sales early on for things I know I always gift, like candles and for my daughters, Sephora items. I also use rewards points through my bank to get gift cards which was a huge help this year! Good tips, Ellen! I didn't know about receipt hog, I'm checking that out. I use Savings Star and Ebates also!

    ReplyDelete
  2. love the idea of regifting gift cards.

    http://www.amysfashionblog.com/blog-home

    ReplyDelete

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