5 Tips That Will Get You Financially-Ready This Holiday Season

It’s still four months away from Christmas, but people here in the Philippines are already excited as September marks the start of the holiday season. This means a lot of gift-giving, partying, and travelling. While it may seem like an expensive season, there are ways you can prepare for it. Here are five things you should do to prepare your finances for the coming months.  

1. Make a list 

Start by knowing how much you will be spending during the holidays. Take some time to write down your Christmas list by enumerating the people you want to send gifts to and knowing what you want to give them. Plan out your menu if you’re throwing a party with your loved ones. If you plan on going on a trip, list down all possible expenses.


Writing down a list for your holiday expenses will give you an idea on how much money you’ll be spending. That way, you can review your budget and plan your savings accordingly.

2. Reevaluate your gifting habits

Speaking of reviewing your budget, even though Christmas is the time of giving, it doesn’t mean giving more than what you can afford. Check your Christmas list and see where you can cut costs. This could mean limiting the number of people you give gifts to.


You don’t need to give everyone you know a gift. Remember, giving gifts is not a requirement. Just focus on people who are close to you or have made an impact on your life. Try to keep your list as short and meaningful as possible. 

3. Be on the lookout for sales, promos, and discounts 

4. Shop in batches

It’s tempting to shop for everything on your list in one go with our busy schedules. But it’s best to shop in batches. That way, you’ll have time to compare prices. You can also avoid spending too much in one go when you go through your Christmas list little by little.

If you really don’t have time to shop in batches, you can shop online instead. You can easily compare prices, and you’ll have plenty of time to think about the items you’ve added to your cart. You can also get Free Shipping if you have enough items to Check Out.

5. Grow your holiday funds instead of spending it

The best way to financially prepare for the holiday season is to already start setting aside money for your holiday funds. To make it even better, opt to keep your holiday funds where it can grow, like in a high-interest savings account. 

At CIMB Bank, you’re a step closer to your financial goals with up to 8% p.a. interest on your savings! Enjoy 4% p.a. interest in two ways. Just maintain a minimum balance of PHP 100,000 or grow your Average Daily Balance by at least PHP 500 every month in your UpSave and/or GSave account. Earn an additional 2% p.a. interest by paying your Personal Loan Installment due or REVI Credit Minimum Amount Due on time. You can also earn additional 2% p.a. by transacting with a minimum of PHP 500 on the all-new CIMB Bank PH app. Average Daily Balances in excess of PHP 200,000 will earn 2.5% p.a. for UpSave and 2.6% p.a. for GSave. Plus, if you maintain a minimum of PHP 5,000 in your account, you are eligible for FREE Life Insurance coverage that’s worth your ADB up to PHP 250,000.

Click the link below to learn how you can earn up to 8% p.a. interest on your savings:

Deposits are insured by PDIC up to P500,000 per depositor.


CIMB Bank Philippines, Inc. is regulated by the Bangko Sentral ng Pilipinas as a Commercial Bank. You may contact the BSP Financial Consumer Protection Department at (+632)8708-7087 or consumeraffairs@bsp.gov.ph.