There are plenty of bank savings account options in Canada! Stay on top of the best plans right here.
It seems like Fall is just getting started. But it’s already time to start thinking about the holidays — especially if you want to save money. Often, a little foresight and planning can reduce your spending. These are some tips to get you started on the way to a January free of holiday debt.
1. Develop a Spending Plan
Start by looking back to years past. That gives you a sense of your typical obligations. Identify your major categories of food, decorations, travel, and gifts, and break down what you usually spend.
This may be a painful process, but it gives you the information you need to develop a realistic budget for the upcoming holiday season. If you can, make note of areas of waste that you don’t want to repeat. For example, decorations you bought on impulse but never used.
2. Start Saving Early
Ideally, you put aside a small amount throughout the year to pay for the holidays. You can start this process a few months before December as well. Break down your budget into manageable chunks and place it into a savings account…