Americans spent, on average, approximately $1000 in 2020 on holiday-related items. It’s not just gifts that add up, though that’s the bulk of the cost. Plenty of other expenses can empty your wallet during the holiday season, including:
- Food for family meals: Americans spend an average $150 on one Christmas dinner.
- Travel: If you’re going any further than over the hills and through the woods, transportation costs can add up, from gas and flights, to hotels and meals-on-the-go.
- Decorating services: Don’t want to scale your roof to get that picture-perfect look? You’re not alone. The average light instillation costs anywhere between $120 and $500 – and that doesn’t include the cost of the lights.
- Gift wrap: A roll of gift wrap starts at a few dollars but if you want the thick, shiny paper, be prepared to pay upwards of $7 per roll. And gift-wrapping services cost $10-$20 per gift!
We know that Christmas 2020 just ended. In fact, you may still have your tree or lights up! But now is the time to think about Christmas 2021 - and the single best way to do that is to save money now with a Holiday Club Account. Our Holiday Club Savings Account is designed to help you set aside a desired amount each month, making it easy to save. Your funds will automatically be transferred to your account at the beginning of October - just in time for the holiday shopping season to begin!
Click here to open a Holiday Club Savings Account. Not a Member? Join LSCU today! As always, if you need help getting on the path to financial wellness, you can make an appointment with one of our FIT Coaches – a free service for our Members.