started a christmas club

**frugal is fun** · 11-29-2011, 02:25 PM

so all this talk about Christmas and not having any money is really making me feel bad.

I have read several posts over the years about those who plan carefully throughout the year to buy gifts for family and friends.

I so want to be this person! but somehow it just never happens. It seems that there is NEVER "extra" money for gifts. I'm sure the response will be add it to the budget. Honestly my budget is so tight as it is I have a hard time affording an oil change or haircut when needed.

So...I just set up an automatic deposit of $5 a week into an ING account. That will give me $260 at this time next year. I also get a holiday bonus from work the first paycheck in December of about $140 after taxes. I'm sure I could do Christmas for $300 with a little planning.

I want to enjoy the holidays and feel good about the gifts that I give. Hopefully this is a step in the right direction.

**frugal me** · 11-29-2011, 02:51 PM

Good for you!
You can also start putting all your coins that you get for change at the store into a jar and save them until next November and cash them in. You'd be surprised at how much you might have saved. We did this last year, and had a little over $500 in there.

**Sophiasmama** · 11-30-2011, 10:04 AM

I second the change jar thing...I just wrapped coins lastnight as we are using it to buy toys for the Santa's elves here in town...and in 3 months had 78 dollars...not bad! What you are planning is a great idea...might look into that too.

**Debbie-cat** · 11-30-2011, 11:17 AM

I agree with the change jar but hide it!!

It's easy for others to dip into it when a buck or two is needed. I started last year on the 26 of December and now have almost $300!!!

**mauimagic** · 11-30-2011, 11:19 AM

I'm doing the same thing today at my 'real' bank - always do better if I don't see the money!! Good luck!!

**krbshappy71** · 11-30-2011, 11:34 AM

Great idea to plan ahead!

So do you just prefer to have the lump sum, then buy Christmas gifts, during the season? I prefer the scavenger hunt all year of gathering presents when they are a steal, so its ok that there's not much money each month, I don't even buy a present once a month necessarily. I just keep a list of ideas in hopes of spotting the item in Goodwill, a super-sale at the Book Fair, etc. and it sounds like you are looking at $20 a month so that's not a huge chunk to fork over if you do find something for someone.

For those of you using a "change jar" does that mean that you don't account for "every penny every month" on the DR plan?

I don't have a change jar, every cent is accounted for, where is this change coming from?

Ok sometimes I pick up a dime from the school hallways but other than that, its all debit charges, planned out on the spreadsheet and sucked out of my account to bills.

**steelergal** · 12-02-2011, 10:04 PM

I do a Christmas Club account for the past 2 years. I used to be able to shop a lot of sales throughout the year for my girls but now that they are getting older- that's a lot harder to do! Each year I put more in it but next year I am planning to deposit even more, it just seems I can only stretch money so far and with those pesky Murphys showing up this time of year (since every year I needed to buy Christmas presents)- the more I set aside the 'easier' the holidays seem to be!

I still buy a lot of items throughout the year, mainly stocking stuffers (which add up really fast!).