My Christmas fund has been sitting in my Capital One 360 Savings account since July. Earning .75% interest. Today I transferred all but $10 back to my regular checking account. From there I will start using the funds to pay for gifts I have purchased on credit cards in the last couple weeks. I also moved $80 worth of referral bonuses, so I can send those to the mortgage.
I left $10 in the account as I had $10 cash here at home to begin my first four weeks of the 52 week savings challenge. My intention is to save this money separately in my Capital One 360 Savings account. Now the cash I have at home will likely be used to buy a few stocking stuffers.
I'm thinking of making a few adjustments for the 52 week challenge for me. I really just want to save some additional money from our regular income. My husband is paid twice per month, thus a weekly challenge is not quite right. The total for challenge at the end is $1,378. I already have $10. If I save $57 each pay period*24 pay periods I will have the remaining $1,368. I think I will start this right away with this upcoming paycheck on the 15th of December. I'm excited! Once I know my husband's pay increase for the year, I will look into saving that money specifically as well.
We completed our $500 in purchases on my husband's Chase Freedom account. Now just to wait for the $200 in rewards to post! We have begun putting our regular spending on my Chase Sapphire Preferred account. Looking forward to over $550 in rewards on that one, but probably not for a couple more months.
I made two stockings today for my parents, since we are only doing stocking stuffers this year and they didn't have stockings it was needed. I bought the green fabric. The red fabric, the lining, and the flannel layers, ribbon, and thread were all items I already had, so the cost was minimal.
Will anyone else be tweaking the 52 Week Savings Challenge? Did anyone meet a spending requirement for a credit card bonus? Do you have a stocking that you get gifts in each year?
Moving Money Plus 52 Week Challenge
December 9th, 2013 at 10:47 pm
December 9th, 2013 at 11:28 pm 1386631692
December 9th, 2013 at 11:28 pm 1386631722
We don't have stockings - but I love yours!! I sew, but not very well. Those are adorable!
December 10th, 2013 at 12:29 am 1386635347
@Buendia, I think $115/mo sounds great! It will still get us to that 52 Week Challenge total.
December 10th, 2013 at 01:17 am 1386638277
December 10th, 2013 at 01:51 am 1386640305
December 10th, 2013 at 02:56 am 1386644169
December 10th, 2013 at 03:53 am 1386647612
DH and I don't do stockings for each other but we do for the girls....well until they are 21, so that means DD1 doesn't get one this year (she is 22). Of course they get plenty of gifts