Can you believe November is here and the holidays are just weeks away? How does it happen? Every year they seem to sneak up on us; you’re out shopping, you look around and see Christmas decorations and you’re shocked! How could this be? How could we be caught off guard again… yes just 7 weeks till Christmas? And for many of us this has been a tough year. There are many people still out of work and even more just struggling to make ends meet. Most of us have friends or family members that are facing challenging times right now.
I know for certain my family is cutting back and not able to do all of the things we would like to do. But one thing I always do and have taught my girls to do is to put money from each paycheck into a Christmas Club account. It may not be a large amount, but if you save all year it can really add up and it makes a big difference when the holidays roll around. I’ve had a Christmas Club account for several years and each time I get my check, I have just what I need to pay for all of my gifts and I don’t have to use my credit card.
So consider opening a Christmas Club, a basic account that lets you deposit money weekly or as often as you want. Even if you only save $10 a week at the end of the year that’s $520 plus interest you’ll have for your holiday shopping. Most credit unions offer Christmas Club accounts, check out what their policy is for early withdrawals and the annual payout date. Direct Deposit or automatic transfer is the easiest way to build your savings, but you can also make deposits at a branch. An old-fashioned idea, a Christmas Club is simple, easy to use, and it really works.