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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Christmas Club/Christmas Fund
Hey All,
Do any of you have a Christmas Saving Club/Fund? My parents were asking us if we started one (basically put $25 each paycheck into a Christmas Club Fund). I'm thinking ahead, and it wouldn't be a bad idea.
How do these work? Do you get penalties for removing all the money at once (like the week before Thanksgiving)?
Our bank is WAMU, which we love, does anybody know if they do one?
Thanks
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Posted 8/17/07 11:39 AM  |
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Marcie
Complete Happiness :)
Member since 5/05 27789 total posts
Name:
LOVE being a Mommy!
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Re: Christmas Club/Christmas Fund
Posted by kerrycec03
Hey All,
Do any of you have a Christmas Saving Club/Fund? My parents were asking us if we started one (basically put $25 each paycheck into a Christmas Club Fund). I'm thinking ahead, and it wouldn't be a bad idea.
How do these work? Do you get penalties for removing all the money at once (like the week before Thanksgiving)?
Our bank is WAMU, which we love, does anybody know if they do one?
Thanks
I am not sure - cause I haven't done it in years - but I know when I did - they cut me a check in October.
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| Posted 8/17/07 11:41 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Christmas Club/Christmas Fund
so its obviously too late in the year to start one now?
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| Posted 8/17/07 11:42 AM |
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stephaniea
LIF Adult
Member since 1/07 1280 total posts
Name:
Stephanie
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Re: Christmas Club/Christmas Fund
I have one. I have it where they automatically deduct $30 a week. At the end of Oct. they send me a check and then start all over again. I think it might be to late now. I love it.
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| Posted 8/17/07 12:23 PM |
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Re: Christmas Club/Christmas Fund
I've never heard of that... but what a great idea!
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| Posted 8/17/07 12:49 PM |
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Re: Christmas Club/Christmas Fund
You could also do it by opening an ING account and then having it deduct $25 or whatever amount you want per paycheck into an account. Then when it is time to do Christmas shopping you can transfer it back.
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| Posted 8/17/07 12:56 PM |
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Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
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Re: Christmas Club/Christmas Fund
I have a Holiday fund through my bank.
I put $25 a check into it.
If you dont take it out by October, they automatically put it into your savings account.
We dont use it for holidays though, we use it for vacations.
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| Posted 8/17/07 1:33 PM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Christmas Club/Christmas Fund
hmm, I might open one next year. What is a good time to open an account for it?
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| Posted 8/17/07 2:35 PM |
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Re: Christmas Club/Christmas Fund
Posted by kerrycec03
hmm, I might open one next year. What is a good time to open an account for it?
i looked them up online after your post.... i found a few websites that say to begin in january
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| Posted 8/17/07 3:26 PM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Christmas Club/Christmas Fund
thanks so much. By then, my car will be paid off, so def. have a few bucks each paycheck to put towards a Christmas Fund.
Thanks!
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| Posted 8/17/07 4:01 PM |
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JodiBabe
Married for 9 yrs!!!!!!
Member since 5/05 6672 total posts
Name:
Jodi
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Re: Christmas Club/Christmas Fund
we have 2 of them. We consider one for Christmas & one for Vacation.
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| Posted 8/17/07 4:38 PM |
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lvdolphins
My Loves!
Member since 5/05 46292 total posts
Name:
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Re: Christmas Club/Christmas Fund
Posted by JodiBabe
we have 2 of them. We consider one for Christmas & one for Vacation.
I like this idea.
We have one Christmas Club through our bank. They automatically deduct money out of DHs check.
We get our check in Oct. and I believe the new club for next year starts in Oct. or Nov.
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| Posted 8/17/07 6:09 PM |
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nyteacher13
Three Under Four!!! :-)
Member since 8/06 6405 total posts
Name:
~ THERESA ~
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Re: Christmas Club/Christmas Fund
I don't do Christmas Club per se - I have a separate account through ING that takes 200 per paycheck out and puts it directly in there. This account is linked to our joint account, so when I need gift money, I just transfer the funds. Easier, imho, than a set Christmas Club.
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| Posted 8/17/07 6:42 PM |
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Reese32
LIF Adult
Member since 7/07 3631 total posts
Name:
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Re: Christmas Club/Christmas Fund
Posted by bridget-n-jimmy
You could also do it by opening an ING account and then having it deduct $25 or whatever amount you want per paycheck into an account. Then when it is time to do Christmas shopping you can transfer it back.
This is what I do. A certain amount goes into an ING checking account each week. It earns interest, and they issue a debit card, so when I want to do my Christmas shopping, I just use that card.
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| Posted 8/17/07 6:43 PM |
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CouponKT
Our family is complete
Member since 6/06 16494 total posts
Name:
K
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Re: Christmas Club/Christmas Fund
I have one. It's called eBay PayPal 
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| Posted 8/17/07 8:38 PM |
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bklyngirl
COULD THIS BE MY YEAR??
Member since 6/05 15758 total posts
Name:
Gail
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Re: Christmas Club/Christmas Fund
i have one and love it. the club for 2008 should start in october
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| Posted 8/17/07 8:49 PM |
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stayandjohn
Our life is complete
Member since 5/05 5909 total posts
Name:
Stacey
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Re: Christmas Club/Christmas Fund
I have a Christmas club through Commerce. Every week, we have an e.f.t. deduct $50 from our checking account.
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| Posted 8/17/07 10:28 PM |
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MrsPowers
So blessed!
Member since 11/06 10348 total posts
Name:
Ivelysse
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Re: Christmas Club/Christmas Fund
Posted by JodiBabe
we have 2 of them. We consider one for Christmas & one for Vacation.
We also have a Christmas club and a Vacation club through our bank.
It is so worth it. 
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| Posted 8/18/07 8:04 AM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
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Re: Christmas Club/Christmas Fund
DH works for Wamu. They don't have a Christmas Club. They have something called AutoSave. The advantage is that a Christmas Club penalizes you if you take the money out early. With AutoSave, there are no restrictions, so if you need to use that money in an emergency, you can.
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| Posted 8/18/07 11:05 AM |
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Elizabeth
Mom of Three
Member since 9/05 7900 total posts
Name:
"MOMMY!!!"
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Re: Christmas Club/Christmas Fund
It's a great idea. We have been doing it for years. We get the money in early November and it's like found money in a way, since it comes right from the paycheck, we dont even think about it. We do $25 per paycheck too but I think I am going to up it this coming year. I have 3 kids now and lots of nieces & nephews. We do it through my DH's credit union but I'm pretty sure most banks offer it.
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| Posted 8/18/07 12:33 PM |
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