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I know, I know… it’s only June (at least at the time when I created this post), but today, I’m going to introduce you to a Christmas savings plan that you’re going to LOVE!
I’m going to teach you how to save $1,000 by Christmas with my free money savings challenge!
What better time to start saving money for Christmas than now? Not to mention, this Christmas savings plan is a clever way to prepare for Christmas so that you can avoid a holiday debt hangover.
You may also find my post about how to save $10,000 in a year helpful for your situation. You’ll also come across another variation of a 52-week savings plan in there.
Much of my savings have accumulated over the last few years by cutting out unnecessary purchases (like these 12 stupid things I stopped buying to quickly save $20,000) once I realized that buying more stuff didn’t equate to more happiness.
Instead, intentional spending became my focus, putting my money toward experiences, needs, and the occasional well-thought-out want. This shift in mindset not only boosted my savings but also led to a more fulfilling and less cluttered life. It truly underlines the concept that money well spent can lead to a richer life, in more ways than one.
So, why did I decide on $1,000 savings for Christmas?
According to Zippia, the per-person spending on holiday gifts over time has hovered between $826 to $938 between 2006 to 2022.
Another source from Statista, shoppers said that they planned on spending an average of $867 on gifts last year. With that said, I thought saving $1,000 by Christmas would work perfectly for you to plan your shopping budget. 🙂
And if you’re looking for the perfect holiday gift ideas that won’t break your budget, I recommend checking out these practical and meaningful ways to give money for Christmas. My readers are amazed by these truly not-so-known and unique money gift ideas, especially the one that includes the engaging challenge of a money puzzle box.
PIN (OR BOOKMARK) THIS PAGE: I’ll be updating this post so make sure to pin this image HERE and save it to your Pinterest board. That way you’ll be able to come back to this page for this awesome saving money challenge that actually works!
26-Week Christmas Saving Challenge: Save $1,000 by Christmas.
Let’s start with the 26-week saving challenge before moving on to the 52-week version.
Today’s Christmas savings plan is set to be an exciting journey, and I assure you that you’ll end up with a solid $1,001, provided you stick with it. Are you on board? Excellent! Let’s dive into this 26-week money savings challenge!
Here’s the game plan:
You’ll kick off with a $26 saving in week 1. In week 2, you’ll add an extra $1 to your weekly savings, summing it up to $27 ($26 + $1). If you continue this trend of adding $1 each week, you’ll accumulate $1,001 by mid-December. If you’re playing catch-up, consider adding an extra $1 to $3 every week. The best part is you won’t feel any pain. Before you know it, you’ll have $1,001 ready for your Christmas spending spree!
Sounds pretty awesome, huh?
Now, let’s look at how this Christmas savings plan pans out:
| Week | Month | Deposit | Balance |
| 1 | Jun | $ 26.00 | $ 26.00 |
| 2 | Jun | $ 27.00 | $ 53.00 |
| 3 | Jun | $ 28.00 | $ 81.00 |
| 4 | Jun | $ 29.00 | $ 110.00 |
| 5 | Jul | $ 30.00 | $ 140.00 |
| 6 | Jul | $ 31.00 | $ 171.00 |
| 7 | Jul | $ 32.00 | $ 203.00 |
| 8 | Jul | $ 33.00 | $ 236.00 |
| 9 | Aug | $ 34.00 | $ 270.00 |
| 10 | Aug | $ 35.00 | $ 305.00 |
| 11 | Aug | $ 36.00 | $ 341.00 |
| 12 | Aug | $ 37.00 | $ 378.00 |
| 13 | Sep | $ 38.00 | $ 416.00 |
| 14 | Sep | $ 39.00 | $ 455.00 |
| 15 | Sep | $ 40.00 | $ 495.00 |
| 16 | Sep | $ 41.00 | $ 536.00 |
| 17 | Oct | $ 42.00 | $ 578.00 |
| 18 | Oct | $ 43.00 | $ 621.00 |
| 19 | Oct | $ 44.00 | $ 665.00 |
| 20 | Oct | $ 45.00 | $ 710.00 |
| 21 | Nov | $ 46.00 | $ 756.00 |
| 22 | Nov | $ 47.00 | $ 803.00 |
| 23 | Nov | $ 48.00 | $ 851.00 |
| 24 | Nov | $ 49.00 | $ 900.00 |
| 25 | Dec | $ 50.00 | $ 950.00 |
| 26 | Dec | $ 51.00 | $ 1,001.00 |
Free Christmas savings plan printable.
Update: I’ve revised this post to introduce a new 26-week savings plan for you to consider. This plan is a bit more aggressive compared to the 52-week savings challenge outlined in the subsequent section, but it’s designed to help you rapidly save $1,000 for Christmas.
If your budget is tight, feel free to skip this part and proceed to the next Christmas savings plan. Either way, I challenge you to try! 🙂
52-Week Christmas Saving Challenge
Along with the 26-week Christmas savings plan, I’ve also added a 52-week savings challenge. This can be a more manageable option if you’re aiming to save money but are dealing with a tight budget.
I sincerely hope this Christmas savings challenge will help you with your Christmas spending. If at any time you feel like you’re falling short on your savings, see which areas you can cut back on. For example, last year, my fiancé and I saved a few extra hundred dollars by dining out less when it was getting close to December. We knew that we wanted to save extra money for gifts and charity for Christmas.
How to stretch your dollars for Christmas
Along with using your Christmas savings plan, I want to mention Rakuten, my favorite cash-back website. You can actually follow my honest Rakuten review and tutorial to learn how to use it to earn cash back on all your shopping purchases.
This resource will help you save money all year round – especially during the holidays like Thanksgiving, Christmas, and New Year’s!
I absolutely LOVE this free tool because my husband and I earn cash back just by purchasing things we were already planning to buy, rewards or not. Another fantastic feature is their referral program, where you earn $25 to $30 for every friend you invite. It’s 100% free to sign up and use, so you’d be missing out if you didn’t take advantage of it!
Using this resource along with my free Christmas savings plan will allow your holiday budget to stretch further. Over the coming months, I’ll also be sharing a post on how to find the best deals during Christmas, so stay tuned!
Have a debt-free Christmas this year!
As I highlighted earlier, you definitely want to avoid waking up to a mountain of holiday debt in the following months.
So, YES! With this printable savings challenge, I’ve designed just for you, a debt-free Christmas is within your reach!
With that in mind, I say we start stashing away cash for the holiday season NOW, my friend! Time has a way of sprinting when we’re not looking, and before you know it, Christmas will be here. So, let’s sidestep the stress of a last-minute money scramble. And remember, even if you’re joining us after June, no worries – you can always catch up or simply aim to spend less than $1,000 for Christmas.
Read more: Should I Pay Off Debt or Save First?
Make Extra Money for Christmas!
But if you’re really tight and just don’t have any more room to cut, I highly recommend you find the best ways to make extra money for Christmas! It’s how I managed to accelerate my savings, no joke!
And let me tell you why.
Saving money is important, but when prices rise fast (this is called inflation), the money you’ve saved buys less. So, it’s a good idea to try and make extra money on the side. This can help your savings keep up with rising prices.
Plus, making more money means you can save more, faster. It can also give you a safety net if something unexpected happens, like losing your job. And, with some extra cash, you might be able to do more of what you love, like hobbies or trips, without worrying about your budget.
You can try one of my favorite highest paying online survey sites below to earn extra money during your free time!
- Sign up for Swagbucks and get FREE $5 bonus through my link.
I also include my honest Swagbucks review to show you how to make and save money with Swagbucks!
Taking surveys online is a good start for beginners who want to get started with making extra money online for free. I believe it’s important to find ways to earn more money. So, I’ve shared other posts here that can help you do that to boost your money savings challenge. These posts are based on my own experiences, including how I make money online, like through this blog that you’re reading right now, which started as a hobby!
- How I Make a Full-Time Blogger Salary of Six Figures Per Year (and How You Can Too)
- How To Make An Extra $500 a Month
- How To Make $500 a Day (Jobs That Pay $500 a Day)
Enjoyed this post? Don’t forget to pin and share it! 🙂
Resources that will help you in your financial journey
Below are my top recommendations for saving money, making money, building wealth, achieving financial independence, and more!
$5 Meal Plan: This is a weekly meal plan service that aims to make your life easy by helping you save time and money. For only $5 a month, you will receive a delicious meal plan that costs less than $2 per meal. On top of that, they offer special meal plans such as the Paleo diet and vegetarian option. Not sure if this is right for you? To make sure you’re fully satisfied, they offer a free 14-day trial absolutely risk-free. If you decide that this isn’t for you, simply cancel it with no questions asked.
Swagbucks: This 100% free resource allows you to earn FREE gift cards by simply completing surveys, shopping online, watching videos, playing games, and surfing the web. Here are some of the gift cards they offer: Starbucks (my favorite), Amazon, Indigo, Groupon, Bath & Body Works, Cineplex, and many more! My fiance and I have redeemed many $50 to $100 Starbucks gift cards without having to pay for our favorite lattes. Sign up for Swagbucks and receive your $5 welcome bonus here.
I thought Christmas has started already lol. I love the idea of saving up for your purchases first and then paying for it without going into debt.
I am more of an earn more money and save the extra earnings comparing to trying to find areas that you can cut. It’s not that I don’t have anything to cut, I just find it more motivating and rewarding to earn more than to cutback.
I think that if we look hard enough, we should be able we o earn that $1000 comfortably by Christmas if we pay attention to the free money offers.
That’s a very simple plan to save 1000$ (1001$ :P). People often don’t realize that they only need to save a little per week (or even per month), to reach enough money after one year. Oven after 6 months, like you demonstrated!
Hey Poor Swiss!
Definitely, it’s totally do-able and I have faith that any family can achieve this if they really try! 😊