Each year, many of us either accumulate debt or exhaust our regular savings accounts while celebrating the Holiday season, after which we are burdened with regret over how much we spent as we enter the New Year. As this New Year begins, it is a good time to seriously consider establishing a Holiday savings account. First, determine the amount you typically spend and make periodic contributions of an amount to the Holiday savings account so that by the time the holidays come around, the money is there for you.
If for example you know you will be spending $1300 each year on gifts or whatever, then start saving at a rate of $25 a week. In this manner, each year the money will accumulate in the account for you. Even if you end up saving only half of what you intended to, then you would have spared yourself half of the strain.
If you have no idea what you are inclined to spend, then realize that that is the first problem because you are operating without a budget. Finally, remember that saving works best when done automatically as opposed to relying on our manual efforts.