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I don't know about you, but I usually get some Christmas money each year. I used to love getting the cash, but it seems more and more of it comes in the form of gift cards these days. Anyway, what do you do with the Christmas money you get? Do you spend it on something that you've needed/wanted, or do you save it for a rainy day?
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Any cash I get I put on the credit card (if you have any you are carrying a balance) thus increasing the amount of the gift. (ie $50 put on a hypothetical card with 17% interest saves you $.70 per month as long as you carry a balance if you have to carry a balance for a year, that $50 just became $58.40. I do drop hints during the fall for gift cards I can use (amazon and such) just so I hopefully do not get any for places I dont wish to shop. JM..$02, hope it helps. -
My husband's parents (who are divorced) each tend give me about $100. Most of the time, the money just goes into my checking account and eventually makes it way into savings. If I can think of something specific to do with it, I'll spend it. But, I usually can't think of anything. I hate to not spend it because $100 feels like a large, generous gift, but added to our savings it doesn't make a noticeable difference.
I much prefer gift cards because I'm forced to actually use and enjoy the gift. I especially like restaurant gift cards because I don't spend money on eating out often, so they make for a nice treat. I have mixed feelings on receiving gift cards that are really flexible, like Amazon, because that can be a lot like getting cash. I love getting Kindle books, and an Amazon gift card is the best way to get me a Kindle book. But, if I get $50 for Amazon, I find myself spending $15 on books and the other $35 then next time I need a gift for someone else.Comment
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