The National Retail Federation predicts the average holiday shopper will spend nearly $800 on gifts, decorations and other holiday items this year. Saving up in advance is a good way to keep yourself from facing a pile of credit card bills and stress come January.
Now is the time to set up your Christmas Club Account for next year. Instead of piling up debt, these easy accounts allow you to make regular budget-friendly deposits by payroll deduction, direct deposit, or cash/check throughout the year, and it earns better than average interest. Funds deposited into the account are not accessible without penalty until the first of November, so you won’t be tempted to dip into your holiday funds throughout the year.
Before you set up your account, budget how much you will need for next year based on what you spend this year. Keep track of gift recipients and how much you spend on each, holiday decor needs, holiday party expenses, and Christmas card costs. Once you know these costs, you’ll know how much to deposit throughout the year. Staying out of debt for the holidays will be the best gift you can receive!
The account that makes the holidays merry and worry-free!
Make regular budget-friendly deposits by payroll deduction, direct deposit, or cash/check throughout the year and you will have plenty of extra "jingle" in your pocket when the holidays roll around.
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