Ready or not, the holidays are coming. And so are the bills that come with it. Want to find some extra money in your budget to avoid debt this holiday season?
Kiplinger came up with some tricks for the months of October and November that could save you $1000 by December. Here's the disclaimer... your actual savings will vary depending on which ones you can implement. But the money-saving tips are not unrealistic. Here are a few of them:
Adjust your tax withholding. If you normally get a big tax refund every year, stop paying Uncle Sam too much throughout the year and keep it for yourself to pad your holiday fund instead. TWO MONTHS OF SAVINGS = $484 (based on the average refund)
Live off your grocery stockpile. Chances are your pantry and freezer have enough food to last you a couple of weeks. So try skipping one weekly trip to the grocery store. TWO MONTHS OF SAVINGS = $100 (one week; $200 if it'll get you through two weeks)
Eat out less. The convenience of dining out can be a real budget buster. Don't go cold turkey, but cut out just a couple times over the next two months will save you a lot. TWO MONTHS SAVINGS = $100
And you can also save by increasing your auto insurance deductibles. That can reduce your premiums by 12% to 18%. TWO MONTHS SAVINGS = $108
Add up the savings from these money saving tips, as well as others from Kiplinger, and you could discover you have that extra money this year to celebrate with cash rather than credit.