MoneyConsumerDont Waste Your Money


Financial experts: You should be thinking about Christmas in July

Posted at 7:17 AM, Jul 09, 2019
and last updated 2019-07-09 13:38:19-04

(WXYZ) — It’s hard to believe that we are talking about this now, but Christmas is about five months away.

Some folks are still paying off their holiday debt from last season.

That’s why financial experts say you should be thinking about Christmas in July.

“It’s coming,” said Tonya Dupree of Cornerstone Community Financial Credit Union. “The holidays are coming.”

First, start stashing cash as soon as you can!

“So, if you’re putting in $50 a week right now, at the end of the year, you will have $1,200 to spend.”

Start shopping now, too.

“There are things on sale now that you’ll pay a lot more for at the holidays.”

Shopper Lorrena Black said, “Wished that I would have done that because a lot of friends that I have do all their holiday shopping in the summer and they are not stressed out around Christmas time like I am.”

If you need help saving money, Dupree said skip the latte and add that money to the holiday fund.

If you did some spring cleaning and want to sell some stuff you don’t need, that money could go towards the piggy bank. It is easy to do, thanks to apps like LetGo or OfferUp

Dupree added, “You can quickly get rid of things around the house and save that money as well.”

Tom Bowker’s wife starts her holiday shopping on December 26.

“Smarter than me,” he chuckled.

Experts say if you plan on traveling during the holidays, it might be cheaper to book now before prices go up.