Saving for the holidays

Timing is everything

Sales signs don’t always translate into a good deal. Using comparison-shopping apps can prevent you from being swept up in the fervor of a sale. There are also many resources online that will help you determine which time of year is best to purchase items such as electronics, home appliances and more.

Take note

Writing down all of your holiday-related expenses helps to keep you within your budget: no fancy apps needed. It can be as simple as typing it on your phone or writing it down in a notebook. Keeping a record of your expenses can also help you determine budgetary adjustments for years to come.

Buy in bulk

If you have a big-box-store membership, consider buying in bulk for holiday parties. While the cost may be greater initially, your long-term savings may be worth it if you frequently host events. However, don’t neglect price comparisons. Your local dollar store items, or even a great sale, could still end up being a better buy.

Start saving now

Our CIBC Holiday Savings Account is designed to help you save for holiday gifts. With automatic fund transfers, this hassle-free account compounds interest throughout the year. The interest is then credited to you on October 31, just in time to start saving for the holiday season.