6 Ways To Make Maximum Money Of A Holiday Savings Account

2. Give up something

Giving up one of your little luxuries in order to buy a gift for someone else is a noble gesture. Set aside what you would spend on your daily latte or something that you're much better off without anyway, like cigarettes. This strategy may be best left for the last few months before the holidays because you may not want to give up your little indulgence forever.

The most practical way to recoup this cash is to calculate how much you spend on this item and then deposit that amount into your holiday fund in advance, preferably on a weekly basis.

3. Teach What You Know

Hold a class in your kitchen on quick holiday appetizers and easy party food. Conduct a workshop at a local crafts shop on how to make holiday wreaths or homemade gifts. Run a seminar on candid photography, coach musical students prepping for a holiday recital or drama teams putting together performances.

The knowledge you share doesn't have to be holiday-themed, either; people with a little extra time off work might enjoy a chance to brush-up on hobbies and interests that normally have to take a sideline.