Tuesday, 23 June 2015

Our Finances Suck Part 7 - Christmas Club Accounts

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Did you know that it is only 6 months til Christmas...what the heck!!




When your finances totally suck it can be really hard to start putting away money for Christmas or even to start buying gifts during the year.

My solution for the past 10 years or so has been to have a Christmas Club Account .....seriously this has been a life saver for me!   I have $50 per fortnight taken directly from our wages and put into the Christmas account,  by November each year when you can draw the money out, I have approximately  $1,300 to spend on Christmas presents and food.

Because the money comes straight out of our wages I don't miss it on a fortnightly basis and if I tried to put the money away each fortnight myself I am sure that it would end up disappearing when the hot water system sprung a leak or the washing machine died...this way it's locked away safe and sound until Christmas is close. 

I truly love Christmas time and certainly don't need the stress of not being able to buy gifts for the girls so the Christmas Club Account is perfect for me....maybe it's something that could work for you too.



I have my account with Queenslanders Credit Union because that's who we had our mortgage with at the time and even though we've changed mortgage providers since then I've stayed with them for the Christmas Club account because it works perfectly for me and I've never had a problem with getting my money, usually within 24 hours of emailing them my withdrawal request the money hits my everyday banking accounts and I can hit the shops!  

You can read about the Quuenslanders account here or you can google others...there are plenty around so you should be able to find one that suits you.

Linking up with Essentially Jess for #IBOT


Do you have a Christmas Club Account already or do you think you could find it advantageous to use one in the future?





8 comments:

  1. I have not used a Christmas Club account for a while now. It certainly was very handy when the girls were young and we needed lots of toys. Together with layby at the mid year toy sales we had it all sorted.

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    1. Great combination...Christmas club account and mid year laybys!

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  2. I don't have one, but totally should. Christmas is such an expensive time of year. xx

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    1. It sure is expensive Nicole! And it's great to know you've got it covered!!

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  3. We will be going to the toy sales to put on some layby's for the girls for Christmas. I don't have a Christmas club, but usually dip into savings to pay for Christmas. I should probably set up a different account and make it specifically for Christmas.

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    1. The toy sales are great for getting sorted for Christmas early!! Probably couldn't hurt to look into Christmas club accounts Bec!

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  4. That's such a good idea! I think Mum has a Christmas Club account actually! Maybe it's something I need to look into... because yep, Christmas sucks when it comes to money!!

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    1. Christmas sure is expensive isn't Lucy!

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