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TO DO: January - Open Holiday Savings Account
Beat the Budget Blues
For the last ten years, I have had a Christmas Club savings account. It's certainly not for the interest earned (it's usually minimal), but for the discipline of saving and having a special account for enjoying the season of giving without the financial stress that comes after the "deferred bills" hit in the New Year. Christmas Clubs work something like this: You open a Club account and pre-determine how much money will be automatically transferred from your checking account into the Club account. The deductions usually occur from January through October with an automatic transfer of the club savings back into the checking account in November. Note if you withdraw from the Club account before the November maturity date any accrued interest is forfeited. Check with your local institution for details and availability. Think, just $50 a month will yield $500 during the holidays.
The saved cash plus having a budget helps keep the emotional buying in
perspective. Be a smart saver and a prudent spender. It helps lessen the holiday stress as
well as beating New Year budget blues.
For Holiday shopping Print our Free - Holiday Gift / Budget List.
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