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Christmas Savings Accounts
How much?


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#1 ManyHats

Posted 31 December 2012 - 07:07 PM

I am planning to open a Christmas Savings account by the end of next month.I think they are such a great idea and will definitely help relieve any financial stress that may occur during the Christmas season.
Anyway, for anyone who does this, how much/how often do u allocate into the Christmas account? I'm not quite sure how much I should put in.
We are a small family of 3 and generally spend about $100-$150 on each other for presents. We don't do anything extravagant for Christmas Eve/Christmas Day, just a nice 3 course dinner. We do like to check out the Boxing Day sales though.
Any suggestions?

#2 tickledpink72

Posted 31 December 2012 - 07:18 PM

For 2013 i'm putting $25 a fortnight into my Christmas Club account for presents, and then buying a $20 Woolies voucher with each grocery shop to cover food/decorations etc.

#3 ManyHats

Posted 31 December 2012 - 07:22 PM

QUOTE (tickledpink72 @ 31/12/2012, 08:18 PM) <{POST_SNAPBACK}>
For 2013 i'm putting $25 a fortnight into my Christmas Club account for presents, and then buying a $20 Woolies voucher with each grocery shop to cover food/decorations etc.


I forgot about grocery gift cards! Thanks for the idea!

#4 gina70

Posted 31 December 2012 - 09:39 PM

This year  I banked $125 a fortnight into my Christmas account.  Next year I am banking $50 as I want to build up an emergency/rainy day account as well.  I love my Christmas account!

#5 ManyHats

Posted 31 December 2012 - 09:48 PM

QUOTE (gina70 @ 31/12/2012, 10:39 PM) <{POST_SNAPBACK}>
This year  I banked $125 a fortnight into my Christmas account.  Next year I am banking $50 as I want to build up an emergency/rainy day account as well.  I love my Christmas account!


I'm thinking of putting $100 a month into it plus grocery gift cards bought throughout the year. We've already got money that is on a automatic savings plan so don't really want to push it.
I think the Christmas accounts are such a good idea. A shame not many banks do it though.

#6 *melrose*

Posted 31 December 2012 - 11:48 PM

what a good idea, might do this too!

#7 wiggles

Posted 31 December 2012 - 11:55 PM

What a great idea. I never thought of grocery gift cards. Does anyone know much about the expirey dates on them. Would it be 1 year from the date purchased?

Anyone know what banks offer Christmas accounts?

TIA

#8 Liadan

Posted 01 January 2013 - 12:03 AM

QUOTE (wiggles @ 01/01/2013, 12:55 AM) <{POST_SNAPBACK}>
What a great idea. I never thought of grocery gift cards. Does anyone know much about the expirey dates on them. Would it be 1 year from the date purchased?

Anyone know what banks offer Christmas accounts?

TIA


Woolworths gift cards expire 12 months after the date of purchase.
http://everydaygiftcards.com.au/FAQ

Coles gift cards expire 2 years after the date of purchase
http://www.giftcards.com.au/Common-questions.aspx

#9 wiggles

Posted 01 January 2013 - 12:07 AM

QUOTE (Liadan @ 01/01/2013, 01:03 AM) <{POST_SNAPBACK}>
Woolworths gift cards expire 12 months after the date of purchase.
http://everydaygiftcards.com.au/FAQ

Coles gift cards expire 2 years after the date of purchase
http://www.giftcards.com.au/Common-questions.aspx



Thank you.



#10 newphase

Posted 01 January 2013 - 10:08 AM

Bendigo Bank I know does but I am in VIC, some credit Unions do.

Also I get extra tax taken out for xmas stuff, no interest but I can't access it at all until tax refund time.

#11 cas8cas

Posted 01 January 2013 - 10:13 AM

Bendigo Bank has an awesome one

You cant access any of your money til the 1st Nov unless you want to pay a $15 fee ( which is what stops me from touching it original.gif )

I didnt use mine last yr sad.gif but am planning on doing so this yr

#12 gina70

Posted 01 January 2013 - 11:28 AM

Heritage Bank has a good one.

#13 adnama

Posted 01 January 2013 - 12:06 PM

A tip i've heard before buying gift cards is you buy your first card say for example $10. Next week you go shopping and use your $10 gift card and buy a $20 card, next week spend your $20 and buy a $30. So by the end you only have the one card at the checkout rather then 40-50 giftcards to use.




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