12 Weeks to Christmas: Start Your Holiday Money Plan Now

Christmas is about 12 weeks away.

That might feel early to think about it. But anyone who has lived through the "three months of January" knows the truth: the best time to plan for December is before it arrives.

The good news? Twelve weeks is plenty of time. Here's how to start this week.

1. Make the list

Write down everything Christmas usually costs you. Be honest, and think beyond gifts:

• Gifts for family, friends, children and co-workers

• Food and drinks: the ham, the sorrel, the Christmas cake, the big Christmas dinner

• Travel to see family

• Outfits for church, parties or Grand Market

• School and office events, secret Santa and treats

• Decorations

2. Put a number on it

Next to each item, write what you plan to spend. Then add it all up. That total is your Christmas number.

If the number makes you nervous, that's okay. It's much better to see it now than on Boxing Day.

3. Divide by the weeks left

Take your Christmas number and divide it by the weeks until Christmas.

Formula: your Christmas number ÷ weeks left = your weekly amount

For example, if your Christmas number is J$60,000 and you have 12 weeks: J$60,000 ÷ 12 = J$5,000 a week.

If that weekly amount doesn't fit, that's useful to know too. Go to step 5.

4. Give it its own home

Keep your Christmas money separate from your everyday money, so it doesn't quietly get spent on other things. You could use:

• A separate savings account

• A labelled envelope

• A savings circle with people you trust (in Jamaica, a partner), with your hand timed for early December

5. Trim the list, not the joy

If the numbers don't work, shrink the list, not the celebration:

• Set a gift limit and agree on it with family.

• Suggest a secret Santa instead of buying for everyone.

• Share the cooking so one person isn't paying for the whole dinner.

• Buy ahead when you see a good price, and tick it off your list.

• Give your time. A homemade treat or a promised day together can mean more than something from the store.

6. Protect January

Plan for January before December starts. Decide now that you won't use credit for Christmas, and set aside a little extra to carry you until the first payday of the new year. Your January self will thank you.

Track it as it grows

The Savings Goal Tracker ($6) is perfect for a Christmas fund. Set your Christmas number as your goal and watch it fill up, week by week.

And every payday between now and December, the free Payday Reset helps make sure your Christmas money gets set aside first.

Rooting for you, The Budget Leaf Team