If you are already a member of this “old fashioned” club at Wallkill Valley Federal Savings and Loan you will be doing the happy dance this week! Why? Because members of our Holiday Savings Club’s hard work all year long is about to pay off…. in the form of a check! That means they can start some debt free shopping for Christmas gifts!
We know some people think of Holiday Club accounts as an old fashioned notion but we would rather view it as a SMART option!
Old becomes New with great features
Online banking has made being a part of this club even easier! Once you have it set up, you can transfer funds between accounts. You control how much you set aside and how often you make transfers! Plus if your employer offers direct deposit, you can have a certain amount deposited directly into your Holiday Club Savings Account each and every pay period. Once you make the commitment, most people find they don’t even miss the money they don’t handle!
It’s a Smart idea
Even those of us who start off the year with great intentions vowing to not use our credit cards for Holiday Spending often lack the discipline to set aside money and come to the end of the year with little to show for our efforts. By setting up a direct deposit, you help yourself stick to the plan!
You can even set a budget for yourself based on last year’s spending to come up with the amount you’ll need to set aside each month. For example, according to a Gallup poll, the average consumer spent $830 last year. If you start saving November 1st, for the 2017 year, that gives you 12 months to put away $830. That means you need to put away an average of $69 monthly or about $34.50 a pay period.
Bonus Saving Tip from your bank
Turn your loose change into holiday cheer. We suggest you take advantage of the coin machines located inside every WVFSL branch! Just place a jar or small bowl on your dresser. Empty your pockets, purse and wallet of change each night and put it in the bowl. At the end of every month, bring your jar into the branch, dump it in our coin machine and have the change deposited in your Holiday Club Savings Account! Even just 50 cents of loose change a day turns into a $182 boost to your Christmas gift giving spree!
Ready to start saving?
Sadly it is too late for this year but in less than 2 weeks, on November 1st, you can come in to any branch and open a Holiday Club Savings Account of your very own. Just $10 is all you need to start saving for Christmas 2017 and you can kiss those credit card bills goodbye!