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Saving For The Holidays


With the holidays comes increased expenses. To have the least stressful holiday season you can and fully enjoy all of the season’s special moments, it’s important to plan your holiday spending and how you’ll save for it.

Saving for the holidays isn’t just putting money aside to be spent on holiday expenses but also planning out ways to spend less money, like alternatives to traditional holiday spending, sales, and couponing. Helpful tips for saving money during the holidays can help make saving for Christmas, Hanukkah, Thanksgiving, and any other holidays easier for you. 

Arkansas Federal Credit Union offers a variety of ways to help you save. Contact us today at (800) 456-3000 or visit one of our local branches to talk to one of our experts about the best savings options for you.

Money Saving Tips for the Holidays

These are a few of our favorite tips for ways to save money for Christmas. Following these tips can help make saving for the holidays less stressful for you. 

Start Saving Early

The most important step in saving for the holidays is to start saving money. The earlier you start your holiday savings, the easier it will be for you to save. Creating additional savings specifically for holiday spending will make you more prepared for the additional expenses.

Make a List of Holiday Purchases

Planning out your holiday purchases can help you find and plan for ways to save and stick to a budget. On this list, you can brainstorm your gift ideas for your friends and family and include your estimated price range as well as anything else you might spend money on. Outlining all your expected holiday costs can help you come up with ways to avoid certain expenses or cheaper alternatives.

Pay with Cash Rather Than Credit

Using cash to pay for holiday purchases is a popular tip that can help make sure that you don’t spend more than you’ve saved for your holiday spending. While you can withdraw your holiday savings from the bank in cash and only spend that much money, it can be difficult to carry cash around and manage in-person and online purchases this way. You can use the same savings technique by using an Arkansas Federal checking account. As you make purchases, you can check your balance in our app to keep track of your budget. This can help you only use the amount you’ve saved because once you’ve spent all your holiday cash, you stop spending.

Gift Exchanges and Potlucks

Planning a Secret Santa or white elephant gift exchange for your holiday party can help you reduce your spending. If you have a large family or group of friends, instead of buying each individual person a gift, you’ll all only have to buy one gift and set a spending limit for gift amounts.

If you love hosting holiday parties or meals, planning a potluck can help you do this without hurting your bank account. Everyone can contribute their own little dish, which will not only save you money but also the time and stress of cooking an entire meal.

Be Creative For Gifts

You can plan creative, low-cost options for holiday experiences and gifts. Homemade gifts or giving your friends and family the gift of your time are a great way to give heartfelt, sentimental gifts without spending a lot of money. 

Check For Coupons

Coupons and discounts are available year-round, but they seem to be more common around the holidays. Searching for discounts, sales, or even free shipping deals can help you save a lot as you shop for the holidays. With online shopping, once you find a gift for someone, you can search different websites and stores to find the best deal on the product. 

Be Cautious with Credit Cards

If you plan on paying for your holiday purchases over time, a low-rate credit card can be a great way to do that with low-interest rates. These cards have lower interest rates than traditional credit cards, which means that you can save on your total payments. If you know you’ll need to use credit cards for holiday purchases, you can plan ahead to get the best rates and offers early to help you save money in the long term, too.

Monitor Purchases

Fraudulent purchases on your credit cards could wreck your holiday savings. It’s important to monitor your credit cards throughout the holidays for any fraud. Keeping track of charges made on your cards can make sure that you’re the only one using your credit card and help you stay on track with your savings.

Get a Side Hustle

If you need a way to make some extra cash to finance your holiday spending, an extra stream of income can help. You can start making and selling items as an extra way to earn cash or simply go through your home and have a yard sale with any extra belongings you no longer need or use. 

Start Saving for the Holidays Today

Saving for the extra expenses of the holidays is important, and it’s never too early to start. The earlier you start the saving process, the easier it will be to save.

There are a lot of different things that you can do to save for the holidays. It’s important to find ways to save that fit well into your lifestyle so you can save without adding stress to your daily life.
Arkansas Federal offers a variety of savings accounts and certificate options. If you’re looking to start saving for the holidays with a separate savings account, you can quickly and easily apply for one online today.

Get Started Now. It's Easy!

We make it easy to get started. Have questions and want to talk? We're here for you.
Call us at 800.456.3000 or visit your local branch.