The holiday season is still a few months away but it's not too early to start thinking about your budget.

The holiday spending season, usually October 1 through the end of the year, can easily put a dent in your bank account if you don't prepare for it. If you start preparing for the holidays now you can enjoy a financially lower-stress season. Here’s how:


Take a look at the past few years. How much did you spend? Review old bank statements and credit card statements and total the spending for the season. In addition to adding up the amount you spent on gifts, take a look at travel and dining expenses too.

Plan ahead

Start making a list of the expenses you expect to have this holiday season. Make a list of all of the people you want to buy for and a list of the people you may have to buy for. Don’t forget teachers, coworkers and service providers. If you plan to travel, start looking at flight and car rental costs now.

Round up

Once you’ve totaled your anticipated holiday spending, round up. There are always some unexpected expenses during the season. For example, your child may have a few holiday parties to attend or you may need a new outfit for a work party.


Take a look at your anticipated grand total and divide that by the number of weeks you have between now and December 24 (or the date you’d like to have your shopping done).

Automate It

Start an automatic transfer from your checking account into your savings account and withdraw the weekly figure you came up with. Setting up automatic transfers makes it much easier to save – plus you don’t have to remember to move money from one account to the other.


If the weekly deduction is too much, consider cutting back on your holiday budget and get serious about finding alternative ways to show your appreciation that don’t break the bank.


We hope these holiday shopping tips help you slow down and enjoy the holidays for what they’re meant to be – a special time to spend with your loved ones. If you have would like to set up a second savings account or have questions about setting up an automatic transfer, our team is happy to help!

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