Christmas is a wonderful time of year, but it can also be a very expensive one. If you're not careful, you can easily spend more money than you planned on gifts, food, and decorations. But there are ways to save money for Christmas without sacrificing the holiday spirit. Let’s take a look at how we can do just that this season!

Christmas Budget Best Practices

Set a Budget

The first step to saving money for Christmas is to set a budget. Decide how much money you can afford to spend on gifts, food, decorations, and other holiday expenses. Once you have a budget, stick to it!

Compare Prices

Don't just buy the first gift you see. Take the time to compare prices at different stores and online. You can also use coupons and promo codes to save money.

Cancel Subscriptions

If you have subscriptions, decide what you don't really need or use. Do you have any subscriptions that you don't really need or use? Canceling them can free up some extra money that you can save for Christmas.

Save Early

The earlier you start saving for Christmas, the more time your money has to grow. Even if you can only save a small amount each month, it will add up over time.

Gift Creatively

There are many ways to give meaningful gifts without spending a lot of money. For example, you could make your own gifts, give experiences instead of material items, or regift items that you no longer use.

How F&M Can Help You Saving for the Season

If you're looking for a specific way to save money for Christmas, consider opening an F&M Holiday Savings Account or Youth Savings Account.

F&M Holiday Savings Account

This account is perfect for customers who want to save for their holiday purchases throughout the year. Interest is paid on November 1st each year, so you can start using your savings for Christmas right away. Funds must be deposited using Direct Deposit or an automated transfer. Learn more about our Holiday Savings Account or contact one of our team members.

F&M Youth Savings Account

This account is perfect for savers under the age of 18 who need an account with low balance requirements to understand the value of saving. Interest is paid quarterly, so you can see your savings grow over time. Learn more about our Youth Savings Account or contact one of our team members.

No matter how you choose to save for Christmas, the most important thing is to start early and stick to your budget. With a little planning, you can enjoy the holiday season without breaking the bank.

At F&M Bank, we want to help you achieve your financial goals, including saving for Christmas. That's why we offer a variety of savings accounts, including the Holiday Savings Account and Youth Savings Account. With a low minimum deposit and competitive interest rates, these accounts are a great way to start saving for the holidays. F&M wishes you a merry Christmas and a lovely holiday season! We cannot wait to be a part of your 2024 financial goals.