Not ready for Christmas? Here's how you can still save up for it anyway

We are a little more than five months away from Christmas, so now is a good time to start saving money for gifts.

These four things may help.

First, create a budget. Figure out how much money you want to spend on gifts and divide that by five since Christmas is about five months away. For example, if you want to spend $500, divide that by five and put away $100 every month.

Your summer vacations are probably booked, so look for ways to cut back on how you travel, such as driving instead of flying. If you don't spend all of your vacation money, put the left over amount into your Christmas budget.

Another tip: look for deals now. Amazon Prime Day is July 16, and some department stores are having Black Friday Sales now.

Finally, confirm your family plans now if you plan on flying somewhere for the holidays. Lock in your dates so you can be on the lookout for discounts on airfare.