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Overheard a guy at the coffee shop say he puts $50 a month into a separate account just for Christmas gifts
It hit me that I always scramble in December buying stuff on credit, so I started my own little gift fund last month with $25 and I already feel less stressed about the holidays, has anyone else done something like this with a specific monthly amount?.
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kai_webb913d ago
Started mine about three years ago with $40 a month and it saved my butt every single December. I used to freak out when I saw all those gift cards and toys piling up on my credit card, but now I just pull from the fund and its like a weight lifted. I even bumped it up to $60 last year because I have a big family and it covers everything including wrapping paper and those little stocking stuffers. Plus if there's extra left over I just roll it into the next year so my balance keeps growing. Honestly feels way better than that end of year panic when bills are due and you're trying to figure out whose gift you can skip.
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elliotm572d ago
Started doing the same thing a few years back but with a Christmas club account at my credit union. $50 a month and by November I had like $600 sitting there. What really sold me was the first year I didn't touch it until Black Friday and I actually walked into Target without that pit in my stomach. I also stash any cashback rewards from my debit card in there throughout the year, usually another $100 or so by the time December hits. The rollover thing is key too because last year I had about $200 left and this year I barely had to add anything.
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