Save for Christmas Money Fund

Question:

On New Years Day I start my Christmas fund. Everytime I write a check, in my check register, I round it off to the next dollar and forget about it. After a while you do it automatically and boy does it add up. It is also easier to subtract for your balance (no cents, to fool with). As of today I have $258.00 in the bank for my Christmas fund. It's a lot easier and more fun to buy for Christmas every year instead of worrying about spending your bill money in December. Several of my friends have started doing this and they enjoy Christmas a lot more, too.

By BARBARA from WIGGINS, MS.

Answers:

10% In Savings Each Pay Period

My problem would be that when it came time to balance my check register it would be off, I wouldn't remember why and would end up spending to much time trying to figure it out. But that's just me. All in all I think it's a good idea. I simply transfer money to my saving account every time I get paid. I put 10% in.

Save the Change

I do the same thing with my checks. Also, when I make a deposit I round down to the nearest dollar. All that odd change really adds up. Ronda

By Ronda

Cut Out Gift Exchanging

This sounds like a real good idea and not just for saving for Christmas. Could be saving for a new couch or to have extra spending money for a trip. We cut out a lot of gift exchanging and that makes Christmas much nicer for us!

By Debbie Dzurilla

Change Piggy Bank

Being the Mom of several cats, unexpected vet bills can really bust my budget, so all the loose change from my pockets or purse I get during the day, end up in a special cute piggy bank just for them. 25 years and several cats on, I have only ever once had to dip into my own bank account to cover a (humungous!) vet bill. Usually, there is money enough in the cats' piggy bank, that they can actually lend me money in a tight spot, be it for xmas gifts or whatever! A win/win situation!

By Vicki

"Keep the Change"

Bank of America has a "Keep the Change" program that can be attached to your checking account. Every time you use your debit card to make a purchase the amount is rounded up and then put into a savings account. I got the basic savings account that was free as long as you made at least one deposit a month, and that deposit is made when they transfer the money from checking to savings. So both my checking is free (direct deposit) and my savings account.

By Julie

ING Savings Account

This is a really good idea! My method is putting a set amount weekly in an ING driect savings account. Its a very small amount (10). I would waste that much on coffee each week! I cant instantly access it (takes 2 days or so to transfer into checking from ING) so its safe until xmas shopping begins. It sure makes the holidays easier on the wallet!

By Kerry

Save Your Dollar Bills

This is a great idea. What I do is save my one dallor bills. These add up fast also.

By Sharon