The holidays are right around the corner. Hopefully, you have saved some money and are ready to go. If you haven’t, and are in a mad dash, sorry. It’s tough out there and snagging deals can be even harder if you do not know where to look. While I am good to go, I’m jumping ahead to help you save up for the holidays next year. Follow along for information on where you can park your cash and maybe generate decent interest, as you prepare for the next holiday season.
Blue Federal Credit Union
I bank with Blue Federal Credit Union. They have several awesome accounts with very high-interest accrual rates. You can park up to $1000 in their accelerated savings account which, generates 5% interest back into the account. The earnings rate on this account decreases for amounts over $1000. They also have a Christmas savers account. You can park up to $5000 in that account and generate 1.25% interest. You can withdraw funds from the Christmas savings club account every October. There are other banks with similar perks. You can use this one or check with your bank brand today.
If you don’t want to use the banking trick, look for alternative methods to save. I have a friend who saves using gift cards. They typically shop at the same stores each Christmas. Every month they dedicate $50 a paycheck to the store of their choice. They do this right up until November when they are ready to shop. They use their $1,200 worth of gift cards at their favorite stores to shop for their loved ones during the holiday. If you do not have a favorite store, opt for Visa or MasterCard gift cards. That way, you can shop wherever you live.
Other Ways To Save
Aside from banking and stocking up on gift cards, there are many other ways to save for the holidays. You can work it into your household budget on a line of its own. You can also make sure to shop during major sales. Right now, all the major stores are offering early Black Friday deals. You can even shop online for most of them. I love Walmart’s online timed sales. Even Amazon and Best Buy have daily deals you can enjoy. Finding great sales through the year will make saving and spending a whole lot easier.