Are you December-ready?

With only three months of 2023 to go, it's time to prepare for the budget crunch of the holiday season. Here's how to plan ahead so your smile (and salary) lasts all the way through to January.

- CHRISTI NORTIER

School's out, end-of-year staff parties abound, gammon stocks are running low and Boney M is playing everywhere - it's December. But beneath all the good cheer is the feeling you may have forgotten something: to budget (and save) for all the ice creams, day trips, Christmas gifts and unexpected invitations from your distant cousins.

Snap back to reality and (thank goodness) it's only September - there are still three months between you and this annual money crunch. It might not seem like much, but it's enough time to make some truly impactful lifestyle adjustments that will make your holiday season so much more relaxing, says financial planner Adele Barnard.

Our finances often catch us off guard, but the festive season is something concrete we can plan for with confidence, she says. See this season as part of your entire financial year; it may have special costs but it will impact and be impacted by the months before and after it. It's not doom and gloom - it's an exciting opportunity to make it the best December yet.

1 Start a 'holiday fund' today

"Saving for a specific goal, like an annual family holiday, makes a huge difference: you'll be more mindful with your money. For instance, you'll pause before ordering takeaways and rather put that cash towards your goal," says Adele. Many banks have 'savings pockets' for short-term savings just like this, so make use of them. Name it 'holiday fund' so that you're reminded of what you're working towards.

2 Have a spending plan