The holidays are over, and while the festive cheer lingers, the looming credit card bills can dampen the spirit.
“I think most of us overspend during the holidays,” said Greylock Federal Credit Union Branch Manager, Allison Lambert, “and then, when the bills come in, we don’t feel very merry.”
If you’re looking for a way to manage your festive expenses without breaking the bank, Lambert recommends setting up a Greylock Holiday Club Account. These accounts are designed to help you save throughout the year for holiday spending.
“Holiday Club Accounts allow members to make regular deposits, which accumulate over the year and become available in early October,” Lambert said. “This timing ensures that funds are ready for holiday shopping, travel, and other seasonal expenses. It's a great way to avoid the financial stress that often comes with the holidays."
She recommends setting up automatic transfers from your checking account to make it easy to save without having to think about it. Additionally, the account earns a higher interest rate than a standard savings account, so money grows more quickly over time. “You just set it and forget it, at least until October when you see how much money you’ve saved for the holidays,” she added.
Greylock Federal Credit Union emphasizes the importance of planning ahead. "By starting early and saving regularly, you can enjoy the holidays without the worry of debt," Lambert added.
For those interested in opening a Holiday Club Account, Greylock makes it easy. Members can visit any branch or apply online. The minimum opening deposit is just $15, making it accessible for nearly everyone.
“Oh, and if you’re trying to save money for something else, like a wedding or that dream vacation, a Holiday Club Account can be your ‘Anything You’re Saving For’ Club Account,” Lambert added. “You don’t need to use it for the holidays.”
For more information about Holiday Club Accounts click here or visit your nearest Greylock branch.