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Christmas Clubs??

Posted by on Jan. 3, 2010 at 9:13 AM
  • 5 Replies

Does anyone have a Christmas Club? How does it work and does it really help during the holiday season? I was thinking of opening one so the holidays aren't quite so tight but wanted to see how they worked and if it was worth it. I know my mom always opened a Christmas club when we were little but still not sure how they work lol! Help! lol!!

by on Jan. 3, 2010 at 9:13 AM
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kimsardo
by on Jan. 3, 2010 at 10:36 AM

My husband had one thru his work.  The company just took out a specified amount of $ and set it aside. It was given to him before Christmas. It's like a forced saving. You can do it yourself by opening a saving account or by putting money in a jar. 

DandMsMommy
by on Jan. 3, 2010 at 3:52 PM

My husband has one through his job. We get to choose the amount we want held out of his paycheck weekly. He gets the check around Thanksgiving.

It is really helpful knowing that we cannot touch it. If we had our own savings account we could go pull it out if we needed or wanted it throughout the year.

It also lifts a big burden off of us. Coming up with money to pay for Christmas is hard, but getting a big check to buy with is awesome! This way we can buy the kids what they want, not what we can afford.

 

2009sig.gif picture by fredregillc

kileys_mommy
by on Jan. 3, 2010 at 4:23 PM

I opened one two years ago through my bank, and it's been such a huge help with Christmas shopping. I set the amount I want to contribute each time (I deposit weekly), and set the withdrawal for unlimited. My bank cuts a check for the amount saved on Nov. 1st each year, and it automatically renews itself.  Since we got rid of all our credit cards last year, our Christmas Club Savings allowed us to have a decent Christmas without the debt.  Plus, you earn interest!  

ohmommamia
by on Jan. 3, 2010 at 4:30 PM

We don't have an actual Christmas club, my husband has a certain amount taken out of each check and direct deposited into the credit union and we don't touch it until about a week before Thanksgiving.  I call and have a check sent to me at that time and that is what I use for Christmas.  It works out great and makes the holidays much less stressful.

fairymom2316
by on Jan. 3, 2010 at 4:56 PM
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