Have you ever gotten to December and realized that Christmas was less than a month away and you hadn't even begun to shop for Christmas? If you're like most, monthly paychecks are used for monthly bills with very little left over or no thought of adding to your savings account. By doing this, December arrives and there's been no planning for Christmas or the plan is to use your paycheck and max out the credit cards to give your kids the Christmas they're expecting.

What if there was a way to save money every month without sacrificing the necessities? Well, there is. Most credit unions offer a savings account that is targeted just for the holidays. They're either called Christmas Club or Holiday Club Accounts. Most of them require a minimum initial investment, usually around $20, and a monthly deposit of $20 or more. Choosing the automatic transfer option makes it even more convenient. Most credit unions will automatically transfer your savings to your checking or regular savings account, whichever you designate, the end of October to the beginning of November...just in time for the wonderful sales that occur the day after Thanksgiving. All of a sudden, saving for the holidays becomes a painless experience that you don't have to think about.

Below are possible savings goals for you to consider. Since some credit unions transfer the funds in October, I'll use 10 months as the savings period.

$20/month for 10 months = $200

$25/month for 10 months = $250

$50/month for 10 months = $500

$75/month for 10 months = $750

$100/month for 10 months = $1000

You can even save your loose change and deposit that into your Christmas Club periodically throughout the year. Another idea is to recycle your bottles and cans and deposit the money received from that into the account.

I recommend Christmas Clubs and Holiday Club Accounts because they provide an opportunity to enjoy the holidays instead of worrying how you're going to pay for everything on your children's Christmas list. They can also minimize the use of credit cards, which in turn, will reduce credit card bills.