There are eight Fridays between now and Black Friday. Those are eight opportunities to save up for holiday shopping, especially if you budget or get paid weekly. If you get paid biweekly, you have four or five paydays to save up. If you don’t think you have room in the budget to save, then you’ll need to get creative to reach $1,000 by Black Friday.
Reaching your goal will be easier if you break it up into small chunks. Here are five ways to save $125 per week.
- Easy ways to start saving are to cook more of your meals at home and use coupons for groceries. Also, bike, walk, or take public transportation instead of driving if it is more affordable. Skip happy hour and try potlucks at home to spend time with friends. Additionally, review your subscriptions and services you may not use. Cancel Netflix and sign up for free with a new email address for 30 days. You will have saved $12.99 already. If you don’t think that’s a lot, keep in mind that everything will be on sale for Black Friday so that $12.99 plus any interest earned can buy a toy, doll, action figure, coloring book, or pair of kids’ shoes. Dig deep into your budget to see where you can save.
- Now is a good time to shop around for new car insurance, cell phone plans, or bank promotions. You can make hundreds of dollars by lowering your monthly expenses and putting the savings into a new account. If you decide to have $125 per week or $250 every two weeks direct deposited, you could have an extra $100 or $200 in your account by the end of November.
- Sell items to earn $1000 without having to change your lifestyle. If you’re going to purchase the latest gadget, then sell your old one. You’re probably going to buy clothes and shoes, so make room by selling items on Poshmark. Additionally, You should sell things that still have tags because you will get more. Do you have any watches or other jewelry collecting dust? You can sell them on eBay. If you handmake items, sell them on Etsy. Some brick and mortar consignment shops will buy unused products from Bath and Body Works and Victoria’s Secret.
- Extra Work. Side hustles are old faithful for extra money towards a goal. Wash cars, mow lawns. If you’re in the northwest where it’s already snowing, plow driveways and sidewalks. If your job offers overtime, take advantage.
- Get a seasonal job. Many businesses hire seasonal workers. Some start earlier than others. Know that it will be two to three weeks before you receive your first paycheck. Plan to set all of the money earned aside for holiday shopping. If you know you want to purchase items at a particular store, try to get a seasonal position there. Many offer employee discounts, even during the holidays. I worked as an associate at Coach after college during the holidays. I started as a seasonal employee and became eligible for the discount and other perks in time for Christmas.
If you’re not into holiday shopping, this plan is an easy way to beef up your emergency fund or save towards a goal. These tips are useful for any dollar figure or event you’re planning. If you have an anniversary trip six months from now, you could have $3,000 saved by following the same plan.
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Flanice Lewis is a DC-based financial literacy advocate, blogger, traveler and breast cancer survivor. In addition to having bought her first house at 23, she is a graduate of Howard University and The University of Virginia. You can follow her on Instagram or read her work here on critical financial.
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