How to avoid a January financial hangover by saving early and planning for holiday expenses.
The benefits of opening a CCCU Holiday Savings Account like earning dividends, automating deposits, and staying on budget.
How to spend smarter, with tips like setting spending limits, stacking rewards, and using budgeting tools.
When it comes to holiday shopping, even though our intentions are good, we still sometimes tend to go overboard when it comes to spending. This often leaves us with a financial hangover in January, when the seasonal fun is over and holiday shopping bills are due. If you’re ready for some guilt-free holiday shopping this season, now is the time to start saving early to prepare for the gifts you want to give!
The pressure to overspend and have everything “just perfect” is something we can all understand during the holidays.
Unfortunately, wrecking the budget and being left with a less-than-pleasant financial situation is often due to these situations:
Last-minute buys and emotional spending in search of the perfect gift and irresistible deals.
Expensive holiday travel rates, fancy decorations, popular gifts, and festive entertainment expenses adding up quickly.
The influence of sales and social media specials making purchases seem too good to pass up even if they aren’t quite in the budget.
To prevent the annual financial hangover in January, it’s a smart money move to plan ahead and start saving for holiday shopping with a holiday savings account at Consolidated Community Credit Union. Here’s why:
Earn Dividends: Every little bit helps when it comes to saving money, and the interest you receive on your holiday savings account with CCCU will add up quickly to make a difference in your holiday spending budget!
Automate Deposits: CCCU makes it so easy to automate savings with the direct deposit feature. Simply designate a set amount from each paycheck to be automatically deposited into your holiday savings account and watch your shopping budget grow!
Avoid Using Credit Cards: Having a dedicated savings account for holiday shopping helps avoid dipping into other savings or using credit cards to finance gifts. This is a smart choice that keeps you on budget and saves you from paying interest on holiday shopping.
A Holiday Savings Account is a dedicated account designed to support your holiday budgeting, making it easier to plan in advance and manage seasonal spending with confidence. The holiday spending account steadily grows with small, regular contributions, so you have plenty of money to spend on gifts and seasonal expenses without using credit cards or bill money. Planning ahead and creating this special account allows you to save all year long with the money becoming accessible just in time for the holiday shopping season!
Ready to open a holiday savings account with CCCU to help plan for your holiday shopping expenditures? Here are some tips to help you get started!
Set a Holiday Budget Goal: Look at last year’s spending for guidance on how much you will need for holiday shopping this year. It is a good idea to know your holiday shopping savings goal and decide sooner rather than later how much money you want to have saved by November, so you can start shopping at this time.
Automate Your Savings: It’s a smart choice to use direct deposit or schedule recurring transfers directly to your holiday savings account. This “set it and forget it” strategy makes saving painless, and you will have plenty of gift money before you know it!
More than anything else, smart spending is the key to getting more bang for your holiday buck this season. Here are some tips to help you spend smart this holiday season.
Plan gifts ahead of time and take advantage of seasonal sales
Set gift spending limits per person or category
Use digital budgeting tools from CCCU to track your progress
Start saving early for stress-free holiday shopping this season so you can feel good about your holiday spending choices and stay within your budget. With just a $5 deposit, you can open a new savings account at CCCU and only need to maintain a balance of $100 to earn interest dividends. When you save for the holidays all year long, you can relax and focus on family traditions and filling the season with joy! Open your holiday savings account with CCCU today and make this your happiest (and smartest) holiday yet