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Start Saving For the Holidays

Savvy ATM: Start Saving For the Holidays

Today is June 25, which marks the six-month point to the 2008 holidays! Hanukkah begins on December 21 this year, the 25th is of course Christmas, and Kwanzaa begins on the 26th. There's a good chance you know which friends and relatives will be receiving gifts this year from the little elf in you, so there's no excuse why you shouldn't begin setting aside money now for the holiday season.

Credit card balances typically surge during this retail prime time and you don't want your balance to be one of them. Charging a $100 gift on your credit card and not paying it off immediately means that you're paying more for the gift than its retail price. Prevent going into debt from holiday spending by starting to save a bit each month. If you're already transferring money from your checking to savings regularly, simply up the amount that's automatically moved to account for your holiday gift fund.


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MA-cw MA-cw 8 years
I do better buying gifts early. I like to start in September at the latest, especially if I find something great (and on sale helps, too) that I know someone on my list will love. I feel like I'm constantly saving for so many different things that saving specifically for the holidays would overwhelm me! My shop early plan has worked well for me the past few years, though. Someday when I reach some of my other saving goals, I might try this.
LesleyP825 LesleyP825 8 years
I actually already started doing this AND started buying gifts! I got some great Christmas items at the Crate and Barrel outlet for my mom and my husband's godmother.
Emiily Emiily 8 years
I need to do that for my boyfriend and my brothers birthday.
Soozicee Soozicee 8 years
I started saving January 1st! $10.00 a week transferred from my checking to my ING "Christmas Fund" savings account. By the time Christmas rolls around I'll have over $500 to spend on gifts.
Liss1 Liss1 8 years
I have been thinking about doing this. Like putting $20 a week aside. Christmas always seems to come so quick and i never have any money. This year i want to be better prepared.
esmerb esmerb 8 years
I love this idea. I actually want to be better at saving for holiday shopping next year and start as early as Jan. Just save a little each month.
LibertySugar LibertySugar 8 years
This is a great idea! Thanks for the reminder. :)
RosaDilia RosaDilia 8 years
Thanks for the reminder Savvy! Tomorrow I'll make my first deposit for holiday shopping.
Lynne Lynne 8 years
Today is June 25 I loved the beginning of this post because today is my birthday! Of course, I knew it was 6 months until Christmas. I tried to remind a couple of my co-workers (with children) they only have 6 mo, but they blew me off!! HAHA, I don't care.
MindayH MindayH 8 years
unfortunately I am saving for weddings right now...then for the holidays
Renees3 Renees3 8 years
Funny, I've been thinking about the holidays for a couple days. I think this is a really good idea. I'm currently saving for our Aug trip, but after that will definitely keep saving for the holidays. I always go a little crazy.
Lovely_1 Lovely_1 8 years
Thank you for this handy little tip!
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