Holiday Savings Plan

Glancing at the title of this post, you might think I’ve been spiking my pumpkin spice lattes – after all, Fall is just starting. The reality is, though, that the holidays creep up on us every year, and I’m sure I’m not the only one who always wishes they started setting money aside sooner for the expenses that the joyful season welcomes in.

If the thought of holiday spending makes you feel like you want to crawl under a Christmas tree and not come out until next year, you’re surely not alone. However, I’m here to shower you with the good news – you don’t have to stress if you plan ahead and make an organized savings plan. I find that starting my saving the first week of October gives me adequate time to set aside what I plan to spend and helps combat the stresses of holiday spending.

In addition to recommending you implement a savings plan, I also have a couple of suggestions for how to set the money aside and not “accidentally” spend it on non-holiday purchases – AKA blow it before the holiday season even begins.

Traditional Method

While this method is simple, it’s effective. Store your holiday savings in a locked “piggy bank” that won’t allow you to easily withdraw the funds. Sure, you may only need to turn a lock or remove a stopper to release your money, but that simple barrier can help to serve as a reminder that the money is locked up and saved for a purpose.

You can, of course, stop by your local bank and deposit your savings into your bank account as well. Piggy banks are just more convenient – and cuter. 

Auto-Pilot Method

This is my preferred method of saving because it doesn’t require any action after it’s initially set up. If you have your pay direct deposited, you can elect to have a set amount deposited into another account for saving – many companies allow employees to assign multiple accounts for their pay to be direct deposited into.

I personally have a separate checking account set up for saving purposes. A set amount of my pay check is deposited into that account every pay period, and I make a point to not use the funds for purchases other than what they’re intended for.

Side Note: If you really want to dive into this auto-pilot method of saving, the possibilities are endless. I actually have four different accounts that I allocate my paychecks into – one for everyday spending, one for miscellaneous savings for birthdays, holidays, etc., one intended for automatic withdrawals for recurring bills, and a savings account that is left untouched.

Below is a printable savings schedule for you to print out and fill with your holiday savings plan. And remember, even setting aside a small amount every week adds up and makes a difference – be sure to make a plan that is manageable for you.

Download the printable here.

Don’t let holiday spending get you stressed. A few simple actions to organize your saving can get you on the right track to being nothing but jolly and stress-free this holiday season.


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