Christmas Savings

Having a Christmas savings account and a Christmas change jar are two strategies for saving money for Christmas.

A Christmas Savings Account is an easy way to save money for the holiday season, using a Christmas Club account or regular savings account at your local bank or credit union.  Decide on how much money you can set aside each month to spend on the holiday season.  Even if it is only $5 or $10, over the year, it will add up!  Place ½ of your fixed amount into your Christmas Club or savings account. 

Now, when the time comes for the Christmas club checks to be sent out you will possibly have most of your gifts and other holiday items purchased.  DO NOT CASH THE CHECK until the last possible moment!  Save this money to use at the after Christmas sales to begin buying for the next year. So what do you do with the other half?  Place that in your Christmas Savings Packets (explained in next challenge)

Creating a Christmas Change Jar is a simple task.  Look around your house and find a jar, glass, basket, piggy bank, anything that will hold loose change and set it near where you empty your pockets.  Anytime you come into the house, put all your loose change and small bills into the container. This money can then be used to populate your savings packets.