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Christmas might feel like a long way off, but it will be here before you know it. Help ease the stress the holiday season brings by thinking about your holiday spending goals now. Without a plan you may be more tempted to use your credit card which means you could be paying for the holiday festivities well into the spring. Starting to save now will help alleviate the stress of overspending and accruing more debt.

1. Set your spending goals now and start saving.

First, look at what you spent last year. Did you feel it was too much? Just enough? Wanted to spend more? From there you can determine your spending goal for this year. Once you have a goal, write it down so it is easier to work towards. Next, take the total amount you want to spend and divide by the number of months left (in this case 3). This will show how much needs to be saved each week/month to reach your goal. Remember to adjust it as needed.

Another way to save a little extra is to take anything considered under budget and move that into your Christmas savings. Let’s say you have $50 a month budgeted for fun activities, but you only spent $25. The remaining $25 can go into your holiday fund to help reach your goal quicker.

2. Open a holiday account

Think about opening a separate account for your holiday savings. Some financial institutions have dedicated Christmas accounts (we have one here!) but really any secondary account will do for Christmas savings. Keeping the funds separate from your other spending money will reduce the urge to spend it on non-holiday things.

3. Start shopping now

If you can, don’t wait for Black Friday, take advantage of deals happening now. There are plenty of Labor Day sales going on. If you are a fan of online shopping, Amazon’s Prime Day sale is a great way to get discounted items, but it has been moved back to later in the year. No official dates have been announced yet, but it is rumored to happen on October 5th. If you prefer to give more personalized gifts, try making them. DIYing your gifts can be super fun!


We hope this blog post gets you thinking about your Christmas spending plan and helps to make the holiday season a little easier this year. To learn more about our accounts visit our website.


For savings tips, contests and more follow us on Facebook and Instagram, @RiverValleyCu.


Happy Saving!

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