The Golden Number for Your Holiday Pot of Gold
Hello Friends,
How much should you really save for the holidays? It’s the golden question everyone is asking right now. Before you throw out a random number for gifts, take a step back and look at the bigger picture. Think about all those extra expenses this time of year, like tickets to the Nutcracker, festive outings, and those higher grocery bills for special meals.
The holiday season isn’t just December, it starts in November! Thanksgiving costs money too. If you’re cooking, hosting, or bringing those extra-special dishes outside your normal grocery budget, it adds up fast.
Now imagine if you had planned and funded those expenses throughout the year. How good would it feel to have a “Holiday Pot of Gold” ready and waiting—fully funded and stress-free?
Here’s how to make that happen:
Calculate Your Holiday Spending :
Review your bank and credit card statements and jot down what you’ve spent so far. Include estimates for anything you still need to buy.
Find Your Golden Number :
Once you have your total—say $2,000—divide it by your pay periods:
Weekly: Example: $2,000 ÷ 52 = $38.48 (round up to $40 per paycheck).
Bi-weekly: Example: $2,000 ÷ 26 = $76.92 (round up to $77 per paycheck). Monthly: Example: $2,000 ÷ 12 = $166.66 (round up to $170 per paycheck)
Open a Separate Holiday Account :
Maybe choose an account you don’t see every time you log in. You can use an online bank that you can open right now. This keeps your holiday savings out of sight and out of mind.
Automate Your Savings :
Option 1: Set up an auto-transfer from your main account to your holiday account.
Option 2: Ask your employer to direct deposit a set amount into your holiday account. Most employers allow multiple deposit accounts.
Next year, when the holidays roll around, you’ll have a stash of cash “Holiday Pot of Gold” ready to go. That’s the secret to enjoying the season without the stress.
But here’s the key—start today. Don’t wait until next November to wish you had done this. Take five minutes right now to calculate your holiday spending and set up that separate account. Every small step you take today is a gift to your future self.
Imagine the peace of mind you’ll feel when the holidays arrive, and you’re ready—no credit card crunch, no last-minute panic, just pure joy and celebration. Your future self will thank you!
Blessings of Abundance,
Diamond Deb
Deb Bowman, CPA
Golden Dust Accounting Inc
Co-Founder