Jumpstart Your Holiday Savings

The summer heat makes it feel like the holiday season is far away, but savvy savers know that starting early is the key to a stress-free and budget-friendly celebration.

By beginning your holiday savings in July, you give yourself plenty of time to build a solid financial cushion, making it easier to enjoy the festivities without worrying about the strain on your wallet.

Here are three actionable tips to get you on the right track:

#1 Take Advantage of Time

With five months left until the holiday season, you can distribute your savings across multiple paychecks, making it more manageable than trying to save a large sum in a short period.

Consistent contributions add up over time and can make a substantial difference in your holiday budget. For example, if you start saving $25 each week right now, you'll have $500 cash by December!

#2 Set Clear Goals

Before you begin saving, set specific and realistic goals for your holiday expenses. Create a budget that includes gifts, decorations, special meals, travel expenses (if applicable), and any other holiday-related costs.

Having a clear idea of how much you need to save will motivate you to stay on track and avoid overspending.

#3 Open a Dedicated Savings Account

Open a separate savings account specifically for your holiday fund. Here at Cornerstone, we offer a Holiday Savings account with no minimum deposit to open.
This savings tool allows for unlimited deposits, and you can withdraw the funds starting October 15th to start your holiday shopping. Take it a set further and automate your savings by setting up automatic transfers to your holiday savings account.