How to Create Your Own Holiday Bonus

A penny saved is a penny earned, but that doesn’t mean you have to put in overtime this month to give yourself a holiday bonus. Here’s how to squirrel away small amounts into Simple so you can enjoy a bonus once the holidays roll around.
Christmas present on a wood background

Get started with Goals

Before you embark on your sneaky holiday bonus mission, get started by logging in to your Simple account and setting a Goal. You can either choose to “save over time,” which will add a little from your Safe-to-Spend to your Goal daily, or “save it now,” to just save whatever you have left aside right now.

Now that you have your Goal set, let’s add to it with a few sneaky savings that you’ll gain over the next couple of months.

Go old school and cut those coupons

Your aunt who used to clip coupons from the Sunday paper ads was on to something: Using coupons for things you normally buy is an easy way to save a few cents or dollars. Take advantage of supermarket savings, clipped coupons, and rewards programs. Some stores offer apps or special cards that you can use for even more coupon discounts. When you get your receipt and the cashier says, “You saved $7.31 today!,” move that $7.31 into your holiday bonus Goal, and you’ll be one step closer to having a little extra these holidays.

If you’d rather shop online than set foot in a store, you can still take advantage of coupon deals. Retailers love when you join their mailing lists. In fact, many will send you a special coupon just for sharing your email address. Beyond offers in your inbox, you can search the internet for coupon codes valid at your favorite website. Simply plug the code in during your virtual checkout, and you’ll save money with just a few clicks.

No matter how you shop, the trick is to pretend you paid full price, then stash those savings in your holiday fund Goal.

Skip one treat

Who says budgets aren’t fun? You don’t have to nix all of your hobbies and indulgences to save money, but it’s worth cutting back a little now in order to reward yourself later. Take a look at where you’re spending money on extras, and consider going without a few of them so that you can save that money instead.

One of the easiest cutbacks is to cook at home one night instead of going out. Figure out how much you spent on dinner, and check it against the menu prices at your favorite restaurant, and voila! You’ve got a small amount to add to your holiday bonus. Staying in instead of going out? Pop that money across to your bonus Goal; you won’t even miss it.

Sell some stuff

We all have it: the closet, storage room, garage, attic, or clutter corner where we hoard the things we no longer use or need. Instead of letting your old stuff gather dust, pick something that might be valuable to someone else and sell it.

Whatever it is, your goal is to sell at least one item and stash the cash from it. If you have more things you can part with, even better. Just think: The space you free up by selling unwanted items can later be used to hold the gifts you’ll buy yourself this holiday. Or, you can simply revel in a cleaner home and a fatter savings Goal.

Chuck that change

It may sound obvious, but if you have change anywhere in your house, it’s time to collect it and turn it into dollars. Instead of hoarding your old piggy bank, take those coins to a machine or bank that will convert your pocket change into valuable tender. If you have stray dollar bills in your pockets or purse, you can toss those in as well. If you’re able to turn those coins into a money order, you can easily snap a pic of your earnings and add it to your Simple account.

Cash it in

Fast-forward a couple of months. You’ve kept up the ruse that you’re spending as normal, and you’ve squirreled away enough to give yourself a holiday bonus. Now it’s time to cash it in. Simply move your earnings from your Goal to your Safe-to-Spend, and hey, presto—your spending power just gained a few more zeros, just in time for the holidays. Enjoy!

Disclaimer: Hey! Welcome to our disclaimer. Here’s what you need to know to safely consume this blog post: Any outbound links in this post will take you away from, to external sites in the wilds of the internet; neither Simple nor our partner banks, The Bancorp Bank and BBVA Compass, endorse any linked-to websites; and we didn’t pay/barter with/bribe anyone to appear in this post. And as much as we wish we could control the cost of things, any prices in this article are just estimates. Actual prices are up to retailers, manufacturers, and other people who’ve been granted magical powers over digits and dollar signs.