6-Month Holiday Savings Challenge
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This savings challenge is all about helping you plan for Christmas, Chanukah, Kwanzaa or New Year’s Eve. It’s pretty straightforward, and you shouldn’t worry about starting your holiday savings challenge a little late. You can still make an impact on your bottom line.
26 weeks, $500 to spend on holiday gifts
It may be hard to start thinking about the holidays now when the sun is out and we all have summer on the mind, but knowing you are prepared will help reduce stress during the holiday season. And really, living well is what it is all about.
Think about how nice it would be to have a little cushion to fund your holidays. You have six months of saving to save $500. You can make this happen!
Do one thing every week to save money
Are you spending on autopilot? Whether it’s stopping for a coffee, lunch with the crew on Tuesdays, or a mani/pedi every other week, it all can add up.
Numerica’s budget tools help you find spending pitfalls you didn’t even know existed. You can analyze spending, create categories and even set a budget recommendation based on your previous transaction.
Make money you don’t have to work for
Numerica has two different accounts that makes your money work harder for you. Seriously, that’s money for things you are probably already doing.
Bonus Saver lets you earn money back in a couple of ways. The first, by making six months of consecutive deposits of at least $25 each month. The second, by not withdrawing the funds for at least six months. That makes Bonus Saver perfect for your holiday savings challenge.
Sequel Checking is the checking account that earns like a savings account. With no minimum balance after opening the account, no monthly fees, and refunded ATM fees, you can earn money back on your balance (up to $25,000) when the monthly requirements are met.
Re-evaluate your budget
Oh, wait. You don’t have a budget? Let’s get started there.
The first step is to figure out where you are spending. Complete this budget worksheet to start getting your finances in one place. As you complete the worksheet, take special notice of the “Potential Savings” box. Check the box if there is an opportunity for saving.
Update your budget so it makes sense
If you set your budget at the beginning of the year, let’s give it a review. A lot might have changed over the last six months, and you might find some immediate savings.
If you haven’t used it, nix it. That e-book subscription to help you read more books this year? End the chapter on that! If you signed up for a gym membership in January and haven’t been back since? Flex that outta here.
Setting a budget is not about setting it and forgetting it. It is something that should constantly be growing and changing, just like you.
Find ways to reduce your monthly bills
Still can’t find ways to meet your $500 saving goals? Time to hit your budget where it counts – TV, internet, and phone.
You might have a bundle that expired, see if you can re-bundle or terminate the extra services. Are there discounts available for your cell phone? Perhaps it’s time to cut the extra channels, or maybe cable all together.
Talk to your Numerica team
Maybe budgeting isn’t your strength, or you are not sure how to use the Numerica features online. Did you know your favorite Numerica branch can help?
Whether it is helping to understand online features or discuss other areas you might need some help with, feel free to know you have a friend in the financial industry that can help you navigate your finances.
Get started on your holiday savings challenge now. Holiday shopping will be here before you know it.