Holiday Savings Calculator

Gift yourself a healthy savings!

What are holiday savings? 

It’s a way to celebrate the holidays, by working towards a savings goal.

Are holiday savings accounts needed?

Some banks and credit unions offer holiday savings accounts. They are separate accounts that release funds around the holiday. They also tend to pay low rates and have deposit minimums. It's best to find a savings method that best suits your specific needs without restrictions. In other words, savers can turn anything into a holiday savings account without it specifically being marketed as one.

Where to store holiday savings?

There are many places to store savings including in physical spaces like an at-home fridge safe. Many financial products like high-yield savings accounts and certificate deposits (cds) can help savers reach their goals faster, because they pay yields.

When to start holiday savings?

You can start saving at any point. If you're looking for an annual challenge, you can start right after the holiday season or with the New Year.

How to support savings during the gifting season?

There are huge shopping sales during the gifting season, which can help families spend less on gifts they love. Some popular shopping days are Black Friday (Friday after Thanksgiving) and Cyber Monday (Monday after Thanksgiving).

How to gift yourself during the holidays?

Some ways to gift yourself during the holidays include

• paying off a mortgage early,

• purchasing shares in a company you love, or

• investing in relaxation products and services