How do you save money for Christmas??

How do you save money for Christmas??

Joined: December 1st, 2006, 5:36 pm

December 12th, 2011, 5:04 pm #1

I have to come up with a new way to save for Christmas. I was using my flexplan/FSA. I would pay the meical bills when they were incurred w/ cash on hand, submit my invoices late in the year and use that cash to cover Christmas presents. Well, next year, theya re requiring to use the convenience Card (VISA card) to pay the bills rather than submitting for reimbursement. So, now I need to come up w/ a new plan.

Easiest is to jsut deposit money each month in my money market, but I would like to keep it seperate just in case I get a wild hair and start spending money again. The CU has a Christmas Club acct, but I wanted to see if y'all had any other suggestions that might earn better interst before I open another acct.

We're not talking aobut a ton of money, just $500 or less. All I buy presents for are my mother, sister, gift swap for work, and my niece's family (niece, DH, their son Drake and the new baby next year ).

so, how do you save your money for Chirstmas????
LisaCNC
Quote
Like
Share

Joined: May 21st, 2006, 4:46 am

December 12th, 2011, 6:00 pm #2

...use a CU Christmas Club account to pay my property taxes on Nov. 15, and use the rest for Christmas. Very painless. In later working years, DH finished paying Social Security in November and we had a couple or 3 "big" paychecks that I used for Christmas. Now I just spread it out between November and December without specifically saving for it. (This year, I'm just going cheap, LOL). The Christmas Club worked very well for me--if I were you, I'd put in $50 a month and then have $100 or so left over after shopping. Leftover money beats the heck out of any other leftover I can think of! Arrange for an automatic deposit--out of sight, out of mind.
Quote
Like
Share

Joined: May 28th, 2006, 3:48 am

December 12th, 2011, 7:35 pm #3

I have to come up with a new way to save for Christmas. I was using my flexplan/FSA. I would pay the meical bills when they were incurred w/ cash on hand, submit my invoices late in the year and use that cash to cover Christmas presents. Well, next year, theya re requiring to use the convenience Card (VISA card) to pay the bills rather than submitting for reimbursement. So, now I need to come up w/ a new plan.

Easiest is to jsut deposit money each month in my money market, but I would like to keep it seperate just in case I get a wild hair and start spending money again. The CU has a Christmas Club acct, but I wanted to see if y'all had any other suggestions that might earn better interst before I open another acct.

We're not talking aobut a ton of money, just $500 or less. All I buy presents for are my mother, sister, gift swap for work, and my niece's family (niece, DH, their son Drake and the new baby next year ).

so, how do you save your money for Chirstmas????
We've stopped exchanging gifts with almost everyone now and everyone is happier for it. So we pretty much just buy for ds. Hanukkah and his birthday fall very close together so I usually buy a couple of things per month for several months beforehand. This year I was finished before December. Back when we bought presents for everyone we never had a separate account for it though.
Quote
Like
Share

Joined: June 5th, 2006, 5:33 pm

December 12th, 2011, 7:36 pm #4

I have to come up with a new way to save for Christmas. I was using my flexplan/FSA. I would pay the meical bills when they were incurred w/ cash on hand, submit my invoices late in the year and use that cash to cover Christmas presents. Well, next year, theya re requiring to use the convenience Card (VISA card) to pay the bills rather than submitting for reimbursement. So, now I need to come up w/ a new plan.

Easiest is to jsut deposit money each month in my money market, but I would like to keep it seperate just in case I get a wild hair and start spending money again. The CU has a Christmas Club acct, but I wanted to see if y'all had any other suggestions that might earn better interst before I open another acct.

We're not talking aobut a ton of money, just $500 or less. All I buy presents for are my mother, sister, gift swap for work, and my niece's family (niece, DH, their son Drake and the new baby next year ).

so, how do you save your money for Chirstmas????
and put into a savings account. It is hard to remember, and like last month, didn't happen.

------
The road to success is always under construction.
Quote
Like
Share

Joined: May 25th, 2006, 12:07 am

December 12th, 2011, 11:37 pm #5

I have to come up with a new way to save for Christmas. I was using my flexplan/FSA. I would pay the meical bills when they were incurred w/ cash on hand, submit my invoices late in the year and use that cash to cover Christmas presents. Well, next year, theya re requiring to use the convenience Card (VISA card) to pay the bills rather than submitting for reimbursement. So, now I need to come up w/ a new plan.

Easiest is to jsut deposit money each month in my money market, but I would like to keep it seperate just in case I get a wild hair and start spending money again. The CU has a Christmas Club acct, but I wanted to see if y'all had any other suggestions that might earn better interst before I open another acct.

We're not talking aobut a ton of money, just $500 or less. All I buy presents for are my mother, sister, gift swap for work, and my niece's family (niece, DH, their son Drake and the new baby next year ).

so, how do you save your money for Chirstmas????
and spend less than $100...
Quote
Like
Share

Joined: September 6th, 2008, 10:30 am

December 16th, 2011, 9:32 pm #6

I have to come up with a new way to save for Christmas. I was using my flexplan/FSA. I would pay the meical bills when they were incurred w/ cash on hand, submit my invoices late in the year and use that cash to cover Christmas presents. Well, next year, theya re requiring to use the convenience Card (VISA card) to pay the bills rather than submitting for reimbursement. So, now I need to come up w/ a new plan.

Easiest is to jsut deposit money each month in my money market, but I would like to keep it seperate just in case I get a wild hair and start spending money again. The CU has a Christmas Club acct, but I wanted to see if y'all had any other suggestions that might earn better interst before I open another acct.

We're not talking aobut a ton of money, just $500 or less. All I buy presents for are my mother, sister, gift swap for work, and my niece's family (niece, DH, their son Drake and the new baby next year ).

so, how do you save your money for Chirstmas????
last year I wanted to save enough to pay my annual internet bill. I was trying to get down to a bare bones budget and internet is not a need.

What I did was.

Saved all change. Even though I was spending less I still would get some change back with grocery shopping and such.

Put aside all refunds and coupon money. A couple of refunds were from the insurance company because I overpaid. I figured that money was already gone so it went into my fund.

When someone paid me back I put that money aside. The same reason applied as refunds, the money was gone.

If I was going to buy something and then found it for less the difference went into my fund. I did not put money aside for sale items I picked up because of the sale. This had to be a real savings to me. One example is my rx. The dr would write it for 90 days but my insurance would only fill it monthly. Then they started filling it for the 90 days and I only paid 1 copay instead of 3.

Extra money I earned by selling something, books, crafts, etc.

Gift money for Christmas and my birthday.

When the time came to pay for my internet I also was able to get a virus program. Ink for my printer and a office chair. Plus I still had a bit left for next years bill. This ended up being a easy way to save and I didn't feel guilty spending on something that is really a want.
Quote
Like
Share

Joined: August 3rd, 2010, 6:06 pm

December 17th, 2011, 2:51 pm #7

I include Xmas, the cost of a tree, extra costs for holiday baking and Xmas meal into my monthly budget, so I am never scrambling. This has been a very difficult year, financially, if I hadn't automatically set aside $, we may not have had a Xmas. Planning ahead, I guess.
Quote
Like
Share