This time of year can usually be stressful on many different levels, lots of social gatherings right through to getting that all important shopping for presents. Planning plays a big part and getting it right can make a huge impact. This tip may not help many people for this “silly season” but will hopefully help set you up for this time next year.
One way to help put money aside for a specific purpose, like Christmas, is to open a separate account just for that. In YouMoney we’ve made opening accounts simple and fast, we did this so the little things can be tracked as well as the big stuff.
How could this work? Say you want to put money aside for presents. Click the add account tile and you will be given some choices on the type of account you want to open. I would want an account for serious saving in this instance as it gives me the most interest and also discourages making withdrawals. Give it some personal meaning by adding an image to the account and give it a goal, if at the end of the year you want $500 for gifts, set that and you will be able to track how you are going at a glance.
Once the account is created (within seconds), set-up an automatic payment and commit to putting money aside regularly. Putting just $10 a week into the account over the year will mean you will reach your goal without any last minute stress, which is always a good thing.