Along with all the joy and celebration, the holidays bring pressure to find that perfect gift, and that pressure can lead to overspending. But with a little bit of advanced planning, it is possible to make everyone on your list feel cared for without ringing in the new year with outrageous credit card bills. Let’s look at the top three steps you can take for smart holiday shopping.
1. Save as You Spend with Making Cents
If you’re already planning on holiday shopping, why not turn each purchase into a chance to save? Our Making Cents* program makes it simple. Once you enroll, each purchase made with your eligible checking account is rounded up to the nearest dollar. That extra change is then deposited straight into your savings account. Over time, these small amounts can add up to something meaningful.
Think of it as a “pay yourself first” method that works in the background as you shop. This way, you’re not just spending during the holiday season; you’re building up your own savings. It’s a smart way to feel good about your shopping while still working toward your savings goals.
To be eligible to enroll in Making Cents, you must have a Cornerstone Bank RITE Premium, RITE Extra, RITE Student, Basic, or Workplace checking account, be enrolled in online banking, and have a Cornerstone Bank Statement Savings, Holiday Savings Plan, or Moola Savings account.
2. Make a Budget—and Stick to It
Setting a budget is one of the most effective moves for smart holiday shopping. Start by deciding on a spending limit that won’t leave you financially stressed come January. List out each person you want to buy for, including any expenses for decorations, travel, food, and other seasonal essentials. Then, allocate an amount for each category and each person on your list.
A clear budget can keep you grounded and save you from relying on credit cards to make it through the season. Try carrying your list with you (or storing it on your phone) and check it twice to avoid impulse buys. This level of planning helps reduce financial stress, giving you peace of mind and a comforting sense of control as you shop.
3. Open a Holiday Savings Plan Account
Planning ahead with our Holiday Savings Plan is a great way to take the stress out of holiday spending. Like our popular Statement Savings Account, the Holiday Savings Plan earns interest but with an added advantage: it’s tailored for holiday saving. Starting your plan early means that you’ll have a growing holiday fund ready just when you need it. The balance, along with any interest you’ve earned, can be transferred to your primary account on the date of your choice or withdrawn in person at your nearest branch.
This dedicated holiday savings approach not only helps you avoid January debt but also provides a financial cushion during this busy season. Plus, seeing your savings grow each month is a rewarding way to feel prepared for the festivities.
Smart Holiday Shopping Keeps the Holidays Happy
The holidays should be about making memories with loved ones—not stressing over finances. By budgeting, planning ahead and enrolling in automatic savings, you’re setting yourself up for a holiday season that’s both financially sound and joyful.
This year, give yourself the gift of smart holiday shopping and start the new year with confidence!
*To enroll in Making Cents you must be enrolled in online banking, have an eligible Cornerstone Bank checking account, and an eligible Cornerstone Bank savings account. Eligible checking accounts: RITE Premium, RITE Extra, RITE Student, Basic, and Workplace checking. Eligible savings accounts: Statement Savings, Holiday Savings Plan, and Moola Savings. Upon enrollment, we will round up your purchases to the nearest dollar and transfer the difference from your checking account to your savings account. Purchases will not be rounded up if it makes your account reach zero or go into the negative. If a debit card purchase is subsequently reversed, the corresponding round-up transfer will remain in the designated savings account.
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