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09-05-2008 at 3:54 PM
cindybaf
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Holiday fund?

We have a couple of random checks and didn't know what to do with the extra money. Since we don't have a Christmas fund in place, I thought it would be nice to start one with this unexpected cash since the holidays are coming. Do any of you keep a year round holiday fund or maybe a holiday budget?

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09-05-2008 at 3:58 PM
georgia_peachy
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We have a small savings accout.  We decide what we want to spend total and then save a bit each month.  In addition DH and I have seperate single accounts for gifts for each other (because it really is a bummer to be balancing the checkbook and know that you really are getting the pearl set you wanted from the jewelry store a month before Christmas)
 
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09-05-2008 at 3:59 PM
kris216
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That's a really good idea.  We have a budget for Christmas - it includes not just gifts but a tree, cards, postage for the cards, any decorations, entertaining costs, you name it.  I love a fun holiday season so I make sure we can do it painlessly.   
 
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09-05-2008 at 3:59 PM
jdilley79
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I usually start my holiday fund around this time of year and yes, I do keep a budget.  I went a little over last year, but not by much.  It helped SO much, especially with two families to buy for now. 
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09-05-2008 at 4:02 PM
ealong
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We each have fifty  per month automatically put into a "holiday" savings account though our bank.  It is really nice to have the extra $$ in December for travel and gifts.  Makes the holidays less stressful.
 
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09-05-2008 at 4:22 PM
Lorita
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ealong:
We each have fifty  per month automatically put into a "holiday" savings account though our bank.  It is really nice to have the extra $$ in December for travel and gifts.  Makes the holidays less stressful.

Same here.  Our bank automatically takes the designated amt at the same time each month, and moves it to the holiday acct.  We decide each January how much we think we want for December.  We also make sure that whatever amt we chose, we make the deductions such that we have the total in place BEFORE December so we can start shopping day 1...
 
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09-05-2008 at 5:58 PM
JennyJuly05
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Yes, we keep a holiday fund and it is seperate from our gift/wedding fund.  Each month I deposit $50 into an ING account which is just for Christmas.  I have been doing this for years and it makes budgeting for gifts so much easier and we don't get a scary bill in January that we have to worry about.  I use the $50 per month to pay for dh's gift and other family members, he uses his unpaid personal days to purchase my gift.
 
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09-05-2008 at 6:23 PM
Lib-bride
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I put money from every check into my ING Christmas fund.  By the time I start buying Christmas gifts, there's plenty of money there.
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09-05-2008 at 6:27 PM
mrsmiller080407
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We keep a subaccount in our ING for all gifts, but the majority of it goes for Christmas.  It really helps us know how much we can afford on gifts, since we both have big families, and we have three nephews.
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09-05-2008 at 6:46 PM
Pitterbull
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I'm not quite organized enough to keep track of a ton of subcategories to my savings account, so I just try to buy holiday stuff throughout the year when I see something.  I always make a list of what I want to get/spend on each person so I can make sure that I somewhat stick to that as I go.

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09-07-2008 at 2:58 PM
JennyAnne022776
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Usually yes, I do keep some money aside for the holidays.  I don't have it direct deposited, but I'm really good about pulling it out on my own when I get paid.  This year it is different because we're getting married and all of our extra money is going toward that right now.  Christmas will probably be a little lighter than usual this year.  But yes, it is so nice to not get slammed with credit card bills in January!!
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09-07-2008 at 3:05 PM
CurbsideProphet
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we budget a certain amount each month for gifts. some months we do not spend any of that money, and we just save it up for the end of year, when we buy more gifts.



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09-07-2008 at 3:14 PM
skierchic30
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Call me insane, but I start shopping for Christmas in May/June when a lot of the stores have their semi-annual clearance sales.

I make a list of people I need to buy for, how much I want to spend, and then write down every gift I purchase and how much I paid for the gift. I put all of the items in a plastic box in the basement. This really helps because it's a little bit at a time and I'm on a strict budget. This also allows me to buy "extra" gifts if I'd make new friends, because I have all of the major people in my life already done by the end of September. 

 
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09-07-2008 at 5:56 PM
MMMiller
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I am included under my husband's insurance and therefore I receive an insurance  buyout every December.  It is nice to not have to worry where the extra money is coming from for gifts and what not.
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09-08-2008 at 9:09 AM
junebug02
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I don't have a Holiday Fund, but I start shopping for the holidays early.  That way it's not such a huge hit to my  bank account all at once!
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09-08-2008 at 1:02 PM
green_turtle
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I do the same thing too. We don't have a seperate "Christmas" account, but we pretty much buy gifts throughout the year since our list has grown so much.  For this year already we have 14 gifts bought and there is no dent in the pocketbook.  Big Smile
 
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09-08-2008 at 1:12 PM
Jerseygirl16
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DH's company pays out unused sick time every year in November.  I can't remember how many days he gets but he never uses them.  Even if he's sick he will usually work from home.  Last year it gave us about $900 after taxes and this year I expect it will be closer to $1200 due to a raise he got. 

When we find out the exact amount we divvy it out amongst everyone we need to buy for and set our budget that way. 

Stacy- Mom to Paige Elisabeth- born 7/1/06 and Sarah Marie - born 4/18/08
 
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