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A smaller Christmas...

December 25th, 2008 at 11:10 pm

I decided that I really needed to spend less...actually I decided this back in February when I joined the Saving Advice forums. Christmas was no exception. My sister brought up the idea of only buying for the kids (my nieces and nephews) and I thought it really sounded GREAT!
I decided to set a budget for $25 for each child. I bought each of them a hooded sweatshirt from Aeropostale (they are teenagers - so these were a hit).
It went really well. They loved their stuff and I didn't have to spend a lot.
I'm toying with the idea of opening up a "gift" fund. If I would put $15 a pay (26 pays a year) into this fund, it would take care of birthday gifts and Christmas presents...I think I am going to do this!

::makes an ING sub account::

7 Responses to “A smaller Christmas...”

  1. Amber Says:

    Good for you, I think a gift fund would be great, you can use for B-days and other holidays

  2. baselle Says:

    Not a bad idea. Reminds of when I was a kid and the banks all had a savings program called a "Christmas Club" account. With that - and layaway - we are all heading back to the '70's quickly.

  3. scrimpandsave Says:

    Yes, it would be just like a Christmas account! Actually, I wanted to put it into my credit union account, but my job already direct deposits money into my local bank account (bank of america) and also my ing account...so they said they cannot transfer money into my credit union account...I guess there is a limit on how many banks. Oh well, the ing sub account will work just fine! Smile

  4. Ima saver Says:

    I put away $30 a week for christmas and have done that for many many years.

  5. Amber Says:

    scrimpandsave,
    If you feel like being bothered you can set up to have funds direct deposit to your BoA and CU accounts and then set up automatic transfers from ING

  6. scrimpandsave Says:

    Amber,

    You are totally right! I forgot that this was possible! Thanks! Smile

  7. Amber Says:

    No problem, that's what we are here for...to bounce ideas off one another Big Grin

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