Bank Independent makes it easy to save for the holidays.
Bank Independent created a savings program with good growth potential and safety of your principal. First, let’s start with why you need to save.
How Much Should I Save for the Holidays to Avoid Credit Card Debt The average American spends $935 on gifts. The same study indicates that these same consumers will carry credit card balances of over $8,500 (2010 American Consumer Credit Council). To avoid paying for the holidays with a credit card, enter our Christmas Express program.
Pay for Gifts with CashA well thought out savings plan can fund your holiday spending and avoid long-term debt charges. Here are a couple common examples of growth.
Holiday SavingsBased on a 12 month savings account using a .25% APY (Annual Percentage Yield), compounded quarterly with an initial deposit of $1. No minimum balance is required to earn the APY. Minimum balance to open a Christmas Club is $2.00** Fees may apply depending on the bank account chosen.
Checking Choices You can fund your Christmas Express account from any Bank Independent checking. Note that some plans even waive the monthly service fee based on the amount saved monthly.
Custom Calculators for Christmas Planning
Custom Calculators for Budgeting During the YearWe have several calculators to help you budget all year long including:
How much am I spending?
Should I pay off debt or invest in savings?
What will it take to pay off my balance?
How much should I set aside for emergencies?
How much will it cost to raise a child?
What's it worth to reduce my spending?
Should my spouse work too?