AtoZ
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So, another January of digging out of a December spending spree on Christmas. I'd like to set up some sort fo short-term savings account for Christams next year. What are my best options beyond sticking it in an envelope labeled Christmas 2011?
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Mon Jan 24, 2011 12:22 pm |
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coaster
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If your employer has an automatic deduction program you might have an amount deducted from your paycheck and automatically deposited in an interest-bearing bank account. You won't earn much, but at least you won't spend it. You'll find the best interest paid at community and employer-associated credit unions. Consider joining one if you're not already a member. I joined one a year ago so as to get a good rate on a refi and they've been paying the best interest of any of my deposit accounts.
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Mon Jan 24, 2011 5:23 pm |
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Peach8321
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Another option besides coaster's suggestion is to look for banks with "Christmas Accounts" - they let you put money in but you can't take it out until November so you aren't tempted to spend it elsewhere.
Another suggestion would be, if you have cash now, to put it into a CD and only spend that amount in dec, then when the CD comes due at the start of Feb, you will pay the bills easily!
The only thing to fear is fear itself - let go and realize your life is how you make it.
The only sure things in life are death and taxes.
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Sun Jan 30, 2011 4:30 am |
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statha
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100% agree with Peach8321, That's the nice option and really very effective as well, If you cant take it out money until Christmas time then sure you get good and huge saving amount. Nice for sharing this wonderful tips and advice.
Debt
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Wed Feb 02, 2011 11:10 am |
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jeffreymint
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quote:
Originally posted by Peach8321
Another option besides coaster's suggestion is to look for banks with "Christmas Accounts" - they let you put money in but you can't take it out until November so you aren't tempted to spend it elsewhere.
This is rather a good idea. I haven't tried it but seems interesting to do. Not that I have had issues with spending during Christmas season but that idea would help others for sure. Especially, busy ones.
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Fri Feb 11, 2011 4:38 am |
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justinblake
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I do it the very old-fashioned way... I let my mother keep it. You see, she is Asian and is very tight with money. I make her my personal bank for short-term savings such as Christmas funds. I know that if I let her keep it and tell her to never ever give it to me if I ask for it in the future, she can be trusted.
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Fri Feb 11, 2011 1:03 pm |
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