The summer season brings with it a sense of joy, relaxation and adventure. As we bask in the warm sun and enjoy outdoor activities, holiday shopping is the last thing on our minds. But planning for the holiday season now can ease your mind – and wallet – when December finally rolls around.
By taking a proactive approach to saving money during the summer, you can ensure a stress-free and enjoyable holiday shopping experience. In this blog post, we'll explore practical and effective strategies to help you save money over the summer so that you can be well-prepared for the holiday season.
6 Tips to Save for Holiday Shopping
1. Create a Budget
Did you know that the average American spends $1,536 during the holidays? This is an overwhelming amount for most people if you don't take the time to prep your budget and save ahead of time.
The first step in any successful savings plan is to establish a budget. Take some time to assess your current financial situation and set a clear spending limit for both your winter activities and your holiday shopping. Having a budget in place will give you a clear roadmap to follow and prevent overspending.
2. Cut Back on Unnecessary Expenses
Summer often tempts us with various spending opportunities, such as dining out, attending concerts or taking spontaneous trips. While these activities can be enjoyable, they can also take a toll on your wallet.
Consider cutting back on non-essential expenses and opting for more budget-friendly alternatives. For example, try hosting a picnic in the park instead of dining at a restaurant or exploring local attractions instead of booking expensive vacations. This will help you save more money for holiday adventures and presents.
3. Embrace DIY and Homemade Creations
Get creative this summer by embracing the do-it-yourself (DIY) spirit! From homemade gifts to personalized decorations, there are countless ways to save money while adding a personal touch to your Christmas preparations.
A fun way to gather with friends and family in the summer is to host a crafting session. Ask people to bring supplies to make homemade holiday gifts and enjoy the company and creativity! Homemade gifts are a wonderful way to create unique and heartfelt presents that will be cherished by your loved ones.
4. Take Advantage of Seasonal Sales
Summer is a prime time for retailers to offer enticing sales and discounts. Keep an eye out for summer clearance events, back-to-school promotions and other seasonal sales opportunities. While you may not be shopping exclusively for holiday gifts, taking advantage of these deals can help you save money on essential items that you would otherwise purchase closer to the holiday season.
5. Start a Summer Side Hustle
If you're looking to boost your savings even further, consider starting a summer side hustle. Whether it's freelancing, pet sitting, gardening or tutoring, a little extra income can go a long way in funding your holiday shopping endeavors. Plus, engaging in a side hustle can be a fun and rewarding way to make the most of your summer months.
6. Open a Holiday Club Account
To avoid the temptation of dipping into your summer savings, consider opening an Apple FCU Holiday Club Account!
Our Holiday Club Account is a dedicated savings account specifically for your holiday shopping fund. This will help you keep your funds separate and make it easier to track your progress as you work towards your holiday shopping goal.
You can open a Holiday Club Account with as little as $5, and you can continue to fund your account through Direct Deposit, transfer, cash or check. Make as many deposits as you want, and your funds will automatically transfer to your Checking or Savings account on November 1.
The Holiday Club Account automatically renews each year, so you can make holiday shopping prep a part of your yearly routine!
To create a Holiday Club Account, log into Apple FCU Online Banking or Mobile App, click Savings/Club Accounts and then click Open. You can also schedule a video appointment, call us at 703-788-4800 or visit a branch to learn more.
The key to successful money-saving lies in planning, discipline and a willingness to explore creative and cost-effective alternatives. With your finances in check, you'll be able to enjoy both the summer months and the holiday festivities without worrying about breaking the bank.
By adopting these practical strategies, you can make the most of your summer and prepare for a stress-free and financially responsible holiday season!
