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5 Ways To Start Saving for the Holidays!

Budgets 5 Ways To Start Saving for the Holidays!
We know the holidays seem far away but it's only 20 more Fridays until Santa is here! This means it’s time to start preparing your shopping list. A little bit of planning now can save you a lot of time and money in the future. Even if your budget has changed this year, by planning now, you can get ahead of holiday spending and sit back to enjoy the holiday with your loved ones!
5 ways to keep holiday spending on budget
1. Make a list… and check it twice
Start with a list of everyone you usually buy gifts for. We mean everyone, parents, kids, cousins or pets! Even if you don’t know exactly what you are getting them yet, this list is a great place to start. Consider the holiday parties or “secret santas” you may attend during the season. And never forget a little something for yourself. 
2. Build a budget and start saving
Once you know everyone and everything you are shopping for, you can start making a plan for how to pay for it all. The best way to start preparing for these expenses is to start setting aside extra funds now. Be honest with what you are comfortable setting aside, then take a small piece of each paycheck and place it in a savings account or a new account designated for the holidays. These are often referred to as Holiday Savings Accounts. 
3. Shop for deals
Everyone wants to wait for the outstanding Black Friday deals that come with the holidays. But, some of your favorite stores may have similar deals between now and then! Keep an eye out for discounts and join email lists including discount codes. Buying in bulk to stock up on holiday party essentials is another great way to save! You never know where you might find extra savings! 
4. Use card rewards
Be sure to check on rewards associated with your debit or credit cards. You may earn cash back or points while shopping with select retailers! You can usually find these details in your banking app. 
5. Avoid impulse buys
It can be easy to get wrapped up in the season of sparkles and glitz, but don’t fall for impulse buys that will find themselves in the back of your closet after the holiday season is over! If you really want to treat yourself, think about something you would use all year long and shop for it during an after-holiday sale! 
Put these holiday saving tips to use and you will be ready for the holidays long before their arrival. Then you can sit back with a cup of cocoa and enjoy the festive lights knowing you saved yourself time, stress and money. 
Written By
Global Credit Union
Member Financial Education and Engagement

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