A small hint for saving for Christmas: My bank automatically takes out money twice a month from my checking and puts it into a Christmas Club account. I just started doing this this year and am amazed at how much I have already saved for Christmas 2010!! YAY!
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Each month, I schedule SMALL automatic transfers from my checking account into savings for college, taxes, vacation, etc. I schedule the transfers for the day after my paycheck is deposited, so saving takes priority over any purchases. I'm always surprised how fast these auto transfers add up!
Wachovia Bank has a saving program that is really helpful. Every time you use your debit card, they transfer $1 from your checking into your savings automatically. You can also transfer $100 a month, in addition to these debit transfers. But, that is it. I don't miss the $1 and the first year,
The first year they pay 5% interest and give you a bonus of 5% on the interest you have accrued during that year. The second year is 4% and the 3rd is something like 2%, which is still way more than the average bank saving's account.
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