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Saving for the Holidays… Already

Posted by Lyndsey Delatte on May 03, 2016

Saving for Christmas... already.Every year Christmas approaches very quickly. I love to shop, but I don’t love having to come up with such a large amount of money during the holidays. I think many people can relate to the same problem, so a couple years ago I came up with a plan to help relieve the stress of holiday spending. I decided to open up a Christmas club account to start saving for the holidays all year long.

My plan was that from each paycheck I would put twenty dollars into my Christmas savings account and my husband would put twenty dollars from his paycheck too. This method seems to make saving a little easier and relieves the stress of having to come up with a big amount of spending money during the holidays. You will be surprised how quickly the funds add up in your Christmas account, and the earlier in the year you start saving, the more you will have to spend!

Here is how you can start saving for your holiday spending:

Designate a savings account just for your holiday spending; either a Christmas club or a savings account that isn’t being used for anything else.

Decide on the amount that you can afford to put aside from each check. It doesn’t have to be a lot.
Set up your account where it automatically transfers to your Christmas savings; that way you won’t forget to make the transfer. Even if you save ten dollars a week, that will give you $520.00 to spend during the holidays!

Happy saving!