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Saks Fifth Avenue's Christmas Lights Show during First major winter snowstorm hits New York City during the Pandemic of COVID-19

Source: Toshi Sasaki / Getty

Why You Should Start Saving for Christmas in September Halloween hasn’t arrived yet but here we are talking about Christmas. But for a good reason-to help you save money. The National Retail Federation found that consumers spent a total of $798.4 billion during the 2020 season.

Up from 8.3% the year before. Waiting until November or December to make your purchases means you will most likely use a credit card which will accrue interest on your purchases. Instead establish a Christmas savings plan now to avoid debt and overspending. How far in advance do you start financially planning for Christmas? Do you set a budget?