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Christmas Account 2007...already?

December 26th, 2006 at 04:20 am

How you save or not for the Holidays plays a big role in your stress level each year.

Are you a dedicated saver? Or do you spread your gift buying throughout the year? Do you hope a windfall will come along just at the right time? Do you count on a Christmas bonus at work? Or, do you pay by credit card and payoff the balance long after the Holidays are past?

Ive had years where I put the entire Christmas bill on plastic...and it was NO FUN at all...paying on those bills long beyond the life of the gifts.

You have a great opportunity to START NOW, saving a little each pay period to cover your Holidays next year.

I started doing this about 5 years ago...and will never go back to those plastic years.

My DH gets paid weekly...so each week, a set amount is deducted AUTOMATICALLY from our checking account and goes into an ING savings account. This not only provides for a CASH ONLY Christmas, but it also provides an opportunity to take advantage of those great sales and deals that come along throughout the year!

If you havent started a CASH ONLY Christmas plan yet, why not start TODAY?

Figure out the amount you will spend for Christmas 2007, and divide that number by the number of paychecks you get each year...then, set up an automatic deduction for that amount. (If you've always used CREDIT and bought your gifts in DECEMBER...you will find that you can spend LESS MONEY on the Holidays by being able to snatch up good deals as they come along throughout the year!!)

Your 'Christmas Account" can be stashed at your bank, or, like me, in an account other than your bank...making it less likely to be spent on anything besides its intended purpose. It can go into a money market account...or even an envelope.. The KEY is to plan and start now so that you have a solid spending plan for next year!

Once you try it...you wont go back!




Posted in general thoughts, 2007 Goals | 5 Comments »

5 Responses to “Christmas Account 2007...already?”

  1. sarah Says:
    December 26th, 2006 at 06:21 am 1167114066
    1167114066

    I've already set up an 07 Christmas account. The trick will be leaving it alone and usiing the money for Xmas.

  2. scottish girl Says:
    December 26th, 2006 at 01:52 pm 1167141128
    1167141128

    I think I'll need to do that for next year. I missed out a couple of people this year because I didn't have enough. I'll label an envelope "christmas 2007" i think

  3. kristinecfp Says:
    December 26th, 2006 at 06:41 pm 1167158513
    1167158513

    Thanks for the reminder. Even though it's still '06, I very much agree that saving for next Christmas now will make next year a much more pleasant (and less stressful) Christmas!

  4. Broken Arrow Says:
    December 26th, 2006 at 09:27 pm 1167168478
    1167168478

    Oh yes, I actually have holiday account set up as part of my regular budget. Throughout the entire year, I fund it a little bit each time I get paid. I wouldn't have it any other way.

  5. Amber Says:
    December 27th, 2006 at 02:55 am 1167188132
    1167188132

    I will definately open a gift account...that I can use for b-days, x-mas etc

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