People are often shocked when I tell them that my family saves $3372 per year for Christmas:
“That is a pretty extravagant Christmas”
“We don’t spend nearly that much, wow, that is a lot of money”
This is true, $3372 is a whole bunch of money, but in reality, it is not as shocking an amount of money to save for Christmas as you think, once you understand WHAT is included in that total.
The REAL Cost of Christmas
When I talk with people about saving for Christmas, and Christmas spending, what I have found is that people are only thinking about the cost of the presents they will be purchasing for Christmas.
“Last year we spent $600 on presents, so we are saving money for that this year”
Then, after Christmas and New Years are over, these same people are confused and upset when they have far less money in their accounts than they expected.
“But, we only spent $600 on presents”
The problem is, Christmas spending includes so many things beyond the presents you buy for people, and it is all of these other costs that quickly add up and drain your bank accounts, and increase your credit card bills, far quicker than you imagined.
My family’s Christmas savings are $3372 because we include the true total cost of Christmas in our spending plan. We include: