The holidays are just over a hundred days away! In three short months, the days will be filled with wrapping paper, holiday cheer, and ringing registers. Instead of waiting until December to begin financing your family traditions, get started early this year, and make it easier on both you and your budget!
- Start a Separate Account for Holiday Savings
At Peoples Bank & Trust, we want to help you achieve your savings goal. You can open a Christmas Club Savings Account with a deposit as low as $5. This account accrues interest daily, and a check is sent to you for the balance during the third week of October.
- Create an ACH Deposit with Your Employer
Speak with your employer to see if you can set up an additional account for your payday ACH deposit. By doing this, you will start saving a designated amount each month, before you’re tempted to spend it!
- Set Aside Your Budget Surplus
If you’re sticking to your monthly zero-based budget, you could end up with some extra funds if you don’t spend as much on entertainment or food as you’ve budgeted for. Add those extra dollars to your savings account to help it grow even faster!
- Earn Extra Income to Contribute
Bolster your bank account with a little extra revenue. Whether its raking leaves for a neighbor, babysitting for a friend, or selling unused items online, there are a variety of ways to add some additional earnings to your holiday savings.
- Create a Personal Shopping List
Just like going grocery shopping when you’re hungry, purchasing gifts without a list may leave you with more than you budgeted for. Before you begin perusing the stores for the perfect items, sit down and determine the people you will be giving to this season. Once you have the names, you can then decide how much to spend on each, and if there are any specific things you plan to purchase for each individual. This gives you a great game plan, and helps to prevent overspending.
- Shop for Deals Early
Who says you have to start buying gifts, or food for that matter, in December! If you see a deal that could save you and your family money on something you already planned on purchasing, act on it! This could be discounted wrapping supplies, a sale on items you have on your personal shopping list, or even large food items that can be properly frozen or stored until December.
- Load Up on PTO and Vacation Days Too
The best part of the holiday season isn’t the gifts, or the budget you’ve stuck to so well, its spending time with your family and friends! Before the end of September, map out all of your scheduled time off leading up to December. If you haven’t already, start saving your available time to use during the holiday season. Between multiple family gatherings, Thanksgiving, Christmas, AND New Year’s Eve, you’ll want make sure you’re not left at the office while the family is out having fun.
Peoples Bank & Trust Co.
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