Christmas has been, and will remain to be, one of the most popular goal names in Chip.
The gift-buying, the turkey-prepping and the excessive drinking can amount to a lot, so having savings allocated to the festive period is a pretty wise way to ensure you can still enjoy December and aren't struggling in January.
Over the past few years, we've helped 6,189 savers reach their Christmas savings goals.
Interestingly, but not entirely too surprising, we saw the 1372 Christmas themed goals made in 2,019 rise to 4,807 this year.
Our data team, too, found that the amount of money put aside shot up during the pandemic, reaching a 103% growth compared to the beginning of COVID-19.
With more saved, we've naturally seen the average amount saved towards Christmas goals increase, with last year checking in at £606.21 compared to £565.91 this year.
Over the last three months of 2020, Chip users saved an average £185.38 per month.
In the same time period in 2019, the monthly average sat at £158.75.
Now with more monthly savings, and fewer opportunities to spend it, it seems we have redirected our hope and positive energy towards Christmas.
When you get through the post-spending period and transition into the new year along with new financial goals, make sure you've set up Chip+1.
Chip+1 is our new easy-access account offering the best return in the market, offering 1.25% return (variable) on savings.
Join our online community and have your say in the future of Chip.
Remember your Capital is at Risk and past performance is not a reliable guide to future returns. The value of your investment can go down as well as up and you might get back less than you originally invested.