Save Enough Money for the Holidays

We’re all looking for ways to save enough money for the holidays. The holiday season will be here before you know it. It can be an exciting time but hard on your finances as well.

Are you prepared to handle all the extra expenses? Many Americans accumulate debt during the holiday season after buying many gifts, hosting parties, attending events and so on. A recent survey indicated that the average holiday debt accumulated by credit card, personal loans, and home equity loans average out to $986.

If you don’t want to overspend during the holiday season and risk getting into debt, you need to start saving up ahead of time you can have less financial stress toward the end of the year.

Save Enough Money

Here are 4 ways to save enough money for the holiday season.

1. Allocate Some of Your Regular Savings to a Holiday Fund

If you already regularly save money each month consistently, you’re on the right track. If you save up for emergencies and unexpected expenses, travel, or other goals, you can create a holiday fund to help you save enough money for the holidays.

You might want to prioritize holiday savings during this time of year by allocating most of your extra money to your holiday fund instead of your ‘travel fun’, or ‘new car fund’ or new car fund.

For example, if you are already contributing $200 per month in an emergency fund, $30 per month in a travel fund, and $45 per month in a new car fund.
You can temporarily lower your emergency fund contributions to $150 per month, your travel fund contributions to $20 per month, and your new car fund contributions to $30 per month and use the excess to start putting $75 per month into your holiday fund.


2. Save enough money by Starting a Side Hustle

There are always plenty of opportunities to earn extra money all year round, but toward the end of the year, many seasonal jobs become available. If you have free evenings or weekends, you can try to pick up a part-time seasonal job to earn some more money for the holidays.

You can also earn side hustle income by walking dogs, babysitting, doing online assistant work for others, driving for Uber or Lyft, or selling items from your home to make extra cash. Dedicate all the extra income you earn to holiday savings so you won’t have to borrow any money to cover the added expenses.


3. Join Loyalty Rewards Programs

Loyalty reward programs and sites like Swagbucks and Ebates can help you save big. Ebates will pay you in cash back for all your shopping while Swagbucks will allow you to earn points by doing a variety of things so you can redeem the points for gift cards to spend at many different retailers and restaurants.

Swagbucks allow you to earn points (commonly referred to as ‘Swagbucks’) by taking surveys, watching videos, shopping online, searching online, playing games, and checking out offers.

One of the best and easiest things I did to effortlessly earn Swagbucks was to install the search engine on my browser so whenever I performed a search, I could earn Swagbucks. With Swagbucks, you only need 450-500 Swagbucks to earn a $5 gift card and about $2,500 to earn a $25 gift card. Swagbucks probably won’t make you rich, but the rewards can come in handy as you do holiday shopping.

Another good loyalty rewards site is called Inbox Dollars which is a search engine/survey site. You need to earn at least $30 before you request payment but you can earn that quickly if you consistently use the site.

The best thing about these rewards sites is that it doesn’t require much effort to earn rewards and cash back. You only need to spend 5 to 10 minutes per day earning rewards and let them add up over time.


4. Save enough money by Using Bank Offers

Did you know that you can earn money by opening a bank account? Some major banks will offer cash bonuses to people who open an account with them and meet certain terms like setting up direct deposit once a month or depositing $500 into their account for example.

If you’ve been in the market for a new bank or don’t mind switching, this can be a great way to check out different banks and earn a little extra cash.

Here is a list of some trusted banks that are offering checking account bonuses and other promotions to new customers.

It’s important to make sure you read the fine print and make sure you understand all the guidelines and requirements before signing up.



These are 4 of the best ways to save enough money for the expensive holiday season. They key is to make sure you get started now so you won’t have to deal with any financial stress.

To maximize your savings, you can even combine a few of these methods and try out what works for you. You definitely won’t regret preparing your finances for the holidays ahead of time.

Have you started saving up for the holidays yet? Which one of these savings methods would you be willing to try?

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Showing 2 comments
  • Deanna Greenwood

    Thanks! The information you have posted in your most recent articles are so incredibly useful and I appreciate them. I am going to subscribe so I can get them all! I intend to start using your valuable advice in the future!

    • Tom Martin

      Thank you, Deanna. I look forward to sharing more great content. Let me know if you would like me to write about anything special. -T

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