If I can also add since Christmas is near the timing couldn't be more perfect. What I did last December 2007 is that I opened another checking account outside of my main checking account and every payday (I'm getting my salary every two weeks) I requested a transfer of $15.00 to that account in this way the money cannot be spent and I can have a good overview of my bills. You can expect also around $400.00 before Christmas which you can use. Currently, I converted my checking account to a custodial savings account for my kid. The custodial savings account functions as my christmas fund account and a savings for my kid as well. What's good about this type of savings account is that it doesn't have any maintaining fees or balance.
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