3 Terrific Ways to Start Saving for Christmas Today!

Jingle bells, jingle bells, jingle all the way....that's right, Christmas is coming! Christmas will be here before you know it. Too many people wait until the very last minute to buy Christmas gifts. That's just not good for your stress level or your budget. If you are waiting until the last minute, you most likely have no money saved and are turning to your credit cards as a last resort. First Bank of the Lake is here to share with you a better way to prepare for the jolliest time of the year. It's much easier to get ready little by little, so here are 3 ways you can start saving for Christmas today!

3 Ways You Can Start Saving for Christmas Today

1. Set your spending goal ASAP.

Think about everything you want to buy this Christmas. Think about all the joy you want to bring to your family and what that might cost. Now, put that into numbers! Also, learn from your past. How much did you spend last year and were there areas in which you may have overspent? Whether it was the overpriced real Christmas tree or the over the top decorations, you may have room to cut back and STILL have a VERY MERRY CHRISTMAS. 

Once you've decided on the amount of money you feel comfortable spending, divide that by the number of months you have left until Christmas, for example, since there are technically only about 2 months until Christmas and let's say your budget is $500, you would just divide 500 by 2 and save $250 each month.

A great way to save would be to use your "under budget" cash. When you end up spending less than what you planned on for your monthly expenses, put that toward your Christmas budget.

2. Set up a Christmas savings account.

Consider opening a separate savings account just for your Christmas savings. Opening a separate savings account can allow your savings to be organized and you may be less tempted to dip into your Christmas savings for unrelated expenditures if your savings accounts are separated. Check with your local bank at the Lake of the Ozarks about opening up a side savings account for your Christmas spending.

3. Take advantage of all of the DIY Christmas ideas online.

Take advantage of all of the free Christmas DIY ideas out there. Check out Pinterest or Instagram to get some great ideas for DIY decorations and gifts. There really are some terrific ideas out there that can save you some money and allow you to use it on other things such as food or transportation to get to your destination for Christmas.

Check out Your Local Bank at the Lake of the Ozarks for that Christmas Savings Account!

First Bank of the Lake is YOUR local bank. When you work with us, you put your money to work growing your local economy. We have face-to-face relationships with our customers and we understand your local needs. Visit our friendly banking staff today to start saving for Christmas!


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4558 Osage Beach Parkway
Suite 100
Osage Beach, MO 65065

(573) 348-2265