A Not-So-Typical Holiday Savings Challenge

Nov 07, 2023 Holidays

The holidays can be about more than just spending. This season, give yourself the gift of savings with this holiday savings challenge.

A couple putting a Christmas tree on top of a car.

Halloween is officially over but holiday supplies have been on the shelves for weeks – which isn’t a surprise. According to a recent survey by the National Retail Federation, 43% of holiday shoppers will generally start their holiday shopping before November. Their survey also finds that those celebrating winter holidays expect to spend an average of $875 on gifts, decorations, food, and other seasonal items – a $42 increase from what consumers planned to spend in 2022.

Holiday spending projections increase each year, but you can set your own course – challenge yourself to save one dollar for every dollar spent.

A family blowing bubbles. They are laughing and appear to be at a park. There is a man, a woman and two little girls.

Save to Win® Certificate

Save money this holiday season with a chance to win cash prizes! Open a Save to Win Certificate and earn entries for monthly and quarterly cash prize drawings. Plus, when your certificate matures in a year, you’ll have funds for the holidays.

Your Holiday Savings Challenge 

Create A Game Plan 

The best way to avoid overspending is to determine in advance what your expenses should be. Look to years prior to get an idea of what to expect.

Gifts for the family, travel, and sightseeing are just the half of it. Are there office gift exchanges or holiday parties you’re forgetting about? Write it all down to try and get the most accurate figure.

Rework As Needed

If you aren’t content with your projections from last year, feel free to modify your plan. If you don’t want to remove things from your must-have list, you don’t have to – all you need is a little creativity. For example, can you pack snacks for road trips or make your holiday party a potluck?

You don’t always have to spend as much as you might initially think. Find ways to save.

Be Proactive

Matching a dollar spent for a dollar saved is one way of enjoying today while investing in tomorrow.

If you find yourself in a situation in which you can no longer afford to save, the real question becomes can you really afford to spend.

Don’t let the holidays leave you with empty pockets – aim to cut back and prioritize your holiday spending.

Choose Your Savings Strategy

Think about how you’ll reroute your dollar-for-dollar match to savings. Do you want to review expenses on a weekly basis and make a transfer or do you want to establish an automatic transfer and adjust the balance at a later point? Find an option that works for you. The important thing is to get it done.


Get creative this season to help find ways to spend less while still showing the people you love that you care. Check out our other holiday blogs for more savings and preparation tips.

A woman staring into a window, there are holiday lights behind her.

Holiday Spending Survival Guide

Use our free Holiday Spending Survival Guide to easily keep track of your budget and following these steps.

Related Articles

Banking on each other.
Building stronger communities.®