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Local expert calls for a financial ‘Christmas in July’ – Indianapolis News | Indiana Weather | Indiana Traffic
INDIANAPOLIS (WISH) — With less than 150 days until Dec. 25, a local family finance expert says Santa — or his helpers — should start shopping now.
“It’s Christmas in July,” says Adam Young, area manager at Everwise Credit Union. He’s a frequent guest on WISH-TV’s Daybreak. “What better time to think about holiday spending than now?”
Young says you’ll spend less, shop smarter and smile more if you get into the holiday spirit months in advance, rather than waiting for the “traditional” shopping spree of Black Friday, Small Business Saturday or Cyber Monday.
“I would say there might be even more upside now than there might have been back then,” Young explains. “I mean, retailers know everyone’s going to be shopping around that time, but they’re trying to entice you to buy some stuff during this time of year. So there might even be some better deals that you find just because you’re being proactive.”
Young says a successful Christmas in July, August and September falls into three themes.
Start now to get maximum effect
- Allow more time to do this
- Distribute your savings
- You spend more thoughtfully
- You avoid using credit
Build your bankroll
- Set a budget while there’s no end-of-year pressure
- Set goals to help you stay focused
- Automate transfers to a separate account for vacation expenses
- Review expenses and learn from the past
Maximize savings
- Start a shopping list now to keep track of gifts and take advantage of great prices to stay within your budget.
- Take advantage of sales and discounts all year round
“It’s an avenue where you can start saving and maybe even buy some things now,” Young said. “So that way when you get there, you’re not as stressed. And it makes the time of year a lot easier.”