Why You Should Start Saving for the Holidays Now | St. Johns Bank
The holiday season might feel distant in this late summer heat, but it will be here before you know it. It’s never too early to put away money for holiday gifts and travel expenses—and it will surely make your festivities less stressful when your finances are in order.
Here’s how you can kickstart your holiday savings journey for a more relaxed holiday season:
1. Budget better. Time is money, as they say! When it comes to holiday spending, costs can pile up fast. But when you save for the holidays early, you’ll have time to create a gift, food and travel budget. Make a list of how much you’d like to spend in each category, and then calculate how much you need to save by December to reach that goal. This way, you know what’s to come financially, and you’ll be ready!
2. Buy gifts now. Not only will you be able to stretch your spending out over several months instead of blowing it all at once, but you will also be able to start catching sales and deals now. Sure, Black Friday discounts are expected, but you can often find just as good or better deals throughout the year. After you’ve made that list of who you need to buy for, consider that person as you do your personal shopping throughout the year to get that name checked off the to-do list early!
3. Be less stressed. If there’s one thing no one wants, but most people get during the holidays, it’s stress. By saving money throughout the year, buying gifts as you go and better managing your budget, there will be less to do come the holidays—and you will have less on your plate and more time to enjoy some days off work and create memories with your family and friends. Give yourself the gift of less stress.
By creating a holiday savings plan, finding deals and shopping throughout the year instead of all at once, you’ll be more prepared for the holidays and experience more joy and less stress.
Want to set up a savings account for your holiday spending? Contact us today!