Create Great Savings Now for Next Year

While you’re quite likely to be exhausted both mentally and financially from this year’s go-around, believe it or not, now’s the perfect time to begin creating great savings for next year’s holiday season (as well as other everyday savings, too).

Even the smallest invest in steeply discounted holiday wrapping paper, gift bags and ribbons can save you not only a tremendous amount of cash later on, but also save you time and energy you would otherwise have to expend on hitting the stores and tackling the crowds to pick it up next year. And while Santa’s now revealed stash of newly gifted toys may have taken over your house, toys begin to flood clearance and discount bins everywhere as retailers begin to focus on the next consumer hotspot for spending: new year’s resolution items. Strategically purchasing small stocking stuffers and sure-to-please toys now will save your pocketbook from a bigger blow later on and you can bask in the pleasure of knowing you’ve already got a head start on next year’s gifts.

The end of December through the month of January is also an ideal time to shop for miscellaneous gifts you’ll likely need throughout the year, too. Not only are retailers marking down their current inventory to clear their shelves, but the majority of them are also faced with a mountain of returned items from the post-holiday rush. And—you guessed it—these mountains of returned items also show up on shelves sporting steeply discounted price tags making it a prime opportunity to pick up great year-round gifts at phenomenal prices. For the adults in your life—friends, your children’s teachers, your extended family members, etc., keep an eye out for items that are more useful than clutter. Things such as beautiful towels, soaps, candles and new bed linens can often be had for an absolute steal, tuck easily away for when the gift-giving need arises and are always appreciated.

If the idea of forking out more cash now after just having spent for this year’s holidays leaves your stomach churning, pause to consider the alternative. You’ll likely end up spending cash either now or later for the same gifting reasons. Would you rather spend a fraction of the cash well in advance or fork out a tidy sum later on? When it comes to saving money, those who strategically make their spending decisions come out ahead, not only financially but often mentally as well. Not convinced? Add up what you spent this year on everything holiday related. Want to cut it in half or even more? Start hitting the discount and clearance bins now.

While you’re at it, don’t forget to stash away a few extra items picked up at great prices for toy drives during next year’s holiday season, too. Doing so can help make being generous much more affordable. If you have children yourself, consider kicking off next year’s holiday season by pulling out the toys for charity and asking your children to take part in wrapping and donating them. There’s no better way to learn more about and celebrate the true reasons for the holidays then giving to others, and picking up toys in advance at discounted prices helps ensure you can do it affordably, too.

Photo credit: Ibraheem Youssef

Related posts:

1. Create Your Own Financial Safety Net
2. Getting Ready to Create Your 2010 Budget
3. Great Gifts without Great Costs
4. U.S. Personal Savings Rate Reached 7-Year High – Chart of the Day
5. A Great Way to Give Thanks

Original Post on The Sun’s Financial Diary

Special Promotional Offers

• 15% Off Amazon.com Gift Cards
• Scottrade 3 Commission Free Trades
• Free FICO Credit Score
• Chase Freedom MasterCard $100 Bonus
• American Express Gift Card Fee-Free Code for 2010 Holiday

Create Great Savings Now for Next Year

Read more at The Sun’s Financial Diary