The holidays may seem far away, but financially speaking, they’re closer than you think. Gifts, travel, food, decorations, donations… the costs stack up fast. Waiting until November to start saving? That’s a recipe for stress and credit card debt. Holiday savings should start now.
The good news? A little planning today can mean a lot more peace of mind (and leftover cash) when the season rolls around. Here’s how to get ahead.
1. Estimate Your Total Holiday Budget
Before you start saving, figure out how much you actually need. Think beyond just gifts:
- Presents for family, friends, coworkers, teachers
- Travel costs (gas, flights, hotels)
- Decorations and holiday meals
- Charitable giving or seasonal tips
- Event tickets or outings
Once you’ve got a number, divide it by how many pay periods are left before the holidays. That’s how much you’ll want to set aside each time.
2. Open a Dedicated Holiday Savings Account
Keeping your holiday savings separate from your everyday spending makes it easier to track your progress and harder to “accidentally” spend it. People Driven Credit Union offers a Holiday Club Savings Account designed just for this purpose.
It’s free to open, earns dividends, and you can nickname it to stay focused. (“No More Credit Card Christmas,” anyone?)
3. Set Up Automatic Transfers
Make saving a no-brainer. Log in to my.peopledrivencu.org or use the MyPDCU app to set up automatic weekly or biweekly transfers into your holiday account. Even $10 a week adds up to over $400 by the end of the year!
4. Shop Smarter, Not Harder
Starting early gives you time to watch for deals, shop sales, and avoid last-minute markups. Bonus: you’ll also prevent panic-buying overpriced gifts out of desperation two days before the party.
5. Use Rewards to Boost Your Budget
If you use a rewards credit card responsibly, it can work in your favor. PDCU’s Rewards Driven Credit Card lets you earn points on your everyday spending that you can redeem for gift cards, merchandise, and more—just in time for the holidays.
6. Prepare for the “Unexpected”
The holidays always come with surprise expenses. Build in a buffer to handle last-minute invites, shipping costs, or that extra gift for your cousin’s new boyfriend you forgot existed.
Enjoy the Holiday Savings, Without the January Regret
It’s never too early to start planning. By setting aside just a little now, you can save yourself from holiday debt, financial stress, and overspending later. Your future self, and your budget, will thank you.
Want help setting up your holiday savings plan? Visit your nearest PDCU branch or contact us online, and we’ll help you get started today.
Two Ways to Make the Holidays Easier on Your Budget
A dedicated savings account and a rewards card that earns on everyday spending are two of the most practical tools on this list. Here is where to find both.
Open a PDCU Holiday Club Savings Account
PDCU’s Holiday Club Savings Account is a free, dedicated account designed to help you set aside money all year for holiday spending. It earns dividends and keeps your holiday fund separate from your everyday checking so it is easier to track and harder to accidentally spend. Open one online in minutes.
Earn Rewards on Holiday Spending
PDCU’s Rewards Driven Visa Credit Card earns points on everyday purchases with no annual fee. Use it responsibly for groceries, gas, and gifts throughout the year and redeem your points for gift cards or merchandise just in time for the season. See current rates and rewards details on the product page.
Holiday Club Savings Account dividend rates are subject to change. See current rates at peopledrivencu.org/about/rates/. All credit card applications subject to credit approval and membership eligibility. Rates and terms vary based on creditworthiness. Membership eligibility required for all PDCU accounts and services. Federally insured by the NCUA. NMLS 776727. People Driven Credit Union is an Equal Opportunity Lender. Holiday Savings
John Scharff is the Digital Marketing Lead at People Driven Credit Union, where he helps create clear, practical financial content for members and the communities PDCU serves. He focuses on making financial topics easier to understand, from loans and savings accounts to digital banking, fraud prevention, and everyday money management.
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