It's not too late to save for the holidays! Here are 4 steps to help you start today

SALT LAKE CITY — The stores are already hanging it over our heads and the commercials will be coming soon. The holidays are sneaking up, and if you haven't started saving, it's not too late!

Financial expert Amanda Christensen, with USU Extension, said you just need a plan for the time you have left.

Figure out what the holidays will cost

Before starting your savings plan, Christensen said to set a realistic target.

"Finding out what you actually need to save," she said. "Like, what's my bottom line number?"

If you're not sure what that number should be, look back at last year to see what you spent on the holidays.

"Open up any Walmart, Target, Amazon," Christensen said. " Open up your apps and your bank account. Search for spending between November and December last year and you will really quickly find that baseline number."

Set a spending limit and work backward

Once you know your baseline number, Christensen said to work backwards. For example, if your goal is $1,000 and you have 10 paychecks before the holidays, then you'll know what you need to save.

"I'm gonna see $100 a paycheck is what I'm aiming for," Christensen explained.

Breaking the goal into smaller pieces makes it feel a lot more manageable.

"If you do the math and you look at that number, $100 doesn't feel doable, don't do nothing," she said. "Do half that. Do something."

Christensen emphasized the every little bit helps. Even a smaller holiday fund can reduce the financial stress you feel around the holidays and help you avoid debt.

Give your holiday savings its own place

Christensen said to put your holiday savings in a separate account. Keeping these funds separate accomplishes two things. It makes progress easier to track and helps reduce temptation.

"I wanna be able to easily pop in and track how much I've got there," Christensen explained. "It's not stealing that money to go dine out quite as easily."

Having a dedicated account turns holiday savings into a visible goal instead of just another number in a checking account.

Look for small ways to find extra money

Saving an extra amount each paycheck might feel impossible. Christensen said this doesn't have to be a budget overhaul moment. She recommended looking for temporary adjustments.

"Could I redirect money from another category temporarily into this savings cushion?" she said.

If extra cash just isn't available in the budget, Christensen suggested selling things you don't need anymore. Social media platforms make it pretty easy.

"Facebook Marketplace tends to be a pretty great spot," Christensen noted.

You can even post items on Instagram or have a yard sale to get a little extra holiday spending money. Christensen said to start with clothing. As the seasons change, your closets might have pieces that you or your kids don't wear anymore. Shoes, jackets and outgrown clothing are good candidates for resale.

"If we just did a bunch of back-to-school shopping  and we've got new things, what things maybe are we not using that could be repurposed for someone, including toys," she said.

Find more advice from Amanda Christensen at utahmoneymatters.org, or on Instagram, @utahmoneymatters.

This story was adapted from a TV broadcast script using artificial intelligence. Every story, including those adapted with AI, is reviewed by a human editor before publication to ensure that KSL's editorial standards are upheld.