Christmas Savings Accounts

[AnnieClaus]

I get my first pay check of 2008 today and want to start up a Christmas Savings Account.

I was thinking about starting a new account at a new bank just for this purpose.

I was wondering if others do this and how you do it.


Annie

:happynewyear:

 

[giftmaker]

I open my saving account the first of november and save all year long . Not much saving during november and december but I do have 50.00 in there now.. More saving to do.

 

[thood]

I do my banking online. I have a weekly transfer set up that automatically takes money from my checking account and puts it into my savings account. Doing a small amount every week, I never miss it.

 

[Lana]

By using a new bank it might be easier to save because you would go there just to make a deposit or use the night drop and not there otherwise. Or it could be a hassle if it is out of the way to get to. I am planning to open one in town here because I don't get there often. Usually closed when I am around so I will use the drop. All banks I do believe now days have the Christmas or Vaction Club that you can only get into if you pay a penalty. Then you close it out for the rest of the year. I work in a bank and most of them have that policy around here.

 

[Christmaslvr]

I have my Christmas Club account through my credit union at work. Their term runs from Oct 1st through Sept 30 and we get our checks the second week of October. I don't think I could save for Christmas if I didn't have one! I would definitely open an account but make sure it's not an inconvenience to make your deposits, unless you're planning on having it go direct deposit right into your account. That would be the way to go if you can do it.

 

[teachermomof2]

I have an account through my Credit Union. I have a payroll deduction each pay that goes directly into my account. It's not a Christmas Club, so I can withdrawl it at any time.

 

[LuAnn]

DH has ours automatically deducted from his paycheck... we never see the money and we do not miss it!

 

[Grannyloveschristmas]

Hi, not sure if this helps but here in the uk I use on-line banking. Through my main account I can then open e-accounts. These have to be managed on-line and I transfer the money from my main account to these e-accounts. You get a higher rate of interest too I have opened several of these and titled them holidays, christmas and birthdays. When i need to withdraw the money, I just go on-line and transfer it back to my main account and i can then withdraw either in branch or at an atm. I can also arrange for a regular amount to transfer straight out of my account into these at regular dates if i want.

 

[AnnieClaus]

Thanks everyone!! These suggestions do help!

Annie

 

[coffeenut]

I will be starting a Christmas club tommorrow

 

[Santa_Elf]

I do a lot of shopping at Walmart, so last year I opened a savings account at the bank in my Walmart. Every time I bought anything at the store, I would round up to the nearest ten dollars and immediately go to the bank and deposit that amount of change. By doing just that I saved 323.00 dollars last year for Christmas.

Santa elf Eddie

 

[Noelsmommy]

We have money taken out every paycheck to go in the christmas savings. I think it's a great idea and you'll be so happy you did. It doesn't cover all my expenses but it covers lots and lets me enjoy the holidays more!

:jumpinghearts:
Kelly