Frugal Patti

While the memories of Christmas or Hanukah bills are still fresh in our minds (and sometimes painful), what better time to prepare for our next holiday season? Borrowing a concept from days gone by, why not start a Christmas fund now? By putting a little into savings each month or paycheck, you can have a nice fund to start your holiday season by the end of the year. First, how much did you spend last holiday season? This data will help you decide what your goals are. Next, decide how much you can afford to put into your holiday fund. You may not be able to completely fund your holiday spending for next season, but any amount will surely help. Just think, if you can put away only $25 per month for 11 months, you will have saved $275 + some interest. If you can save $50, you will have $550 + interest. Any funds will definitely help and make the next holiday season less stressful. After you make these decisions, you will want to open a high interest savings account (or at least the highest you can find) to start your fund.

Tomorrow: Choosing a high interest savings account…