How To Set Up An Automatic Savings Plan For Christmas 2014

How To Automatically Save For Christmas 2014In my last post, where I challenged myself to make $1,000 in two week, I mention that I needed to set up an automate savings plan for my 2014 Christmas present budget.

I spent the 3-5 minutes it takes, over at Capital One 360, and have made my initial deposit of $76.92.

On the 9th day of every month starting in January, 2014 another $76.932 will be deposited into this savings account which I’ve nicknamed “Xmas Presents 2014″.  There will be 13 equal deposits between yesterday and December 9th, 2014 for a grand total of $1,000.

Christmas presnt budget for 2104 is now just one less thing to worry about.

Here are the steps required to set up a new savings bucket in your Capital One 360 account.  

Please Note: If you don’t have a Capital One 360 account here, click here to get a $25 or $50 bonus when you open a 360 savings account or a $50 bonus when you open a 360 checking account respectively.  I actually recommend that you open both but do the 360 checking account first to get the bigger bonus as the bonuses are only being offered to new Capital One 360 accounts.
How To Open A New Capital One 360 Account To Save For Christmas Presents

Click “My Accounts” and then “Open Account

Christmas Presents Savings Plan

Click on “Open Now” for the 360 Savings account

How To Save For Christmas Presents

Choose what type of account you want (#1) then click continue (#2)

Monthly Savings For Christmas Presents

Choose the initial deposit amount then set up the automatic savings plan so over the next year you will save up your entire Christmas budget over time.

I will be spending about $1,000 this year on Christmas presents and plan to do that same next year.  Since I’m starting today (December 9, 2013) I will have 13 equal installments between now and December 9, 2014.  $1,000 divided by 13 equals $76.92/month.  Less than $80/month is a lot less daunting than needing to come up with $1,000 in 2 weeks which I’m plan to do, more on that later.

Christmas Budget Planning

Make sure to click “Create Account” to complete your new Capital One 360 account set up.

Saving Money Christmas

On December 9, 2014 this savings bucket will have $1,000 in it and I will be able to shop stress-free!

That’s it, it’s literally that simply to set up your own automatic savings plan at Capital One 360.

Don’t Forget: click here to get a $25 or $50 bonus when you open a 360 savings account or a $50 bonus when you open a 360 checking account respectively.  I actually recommend that you open both but do the 360 checking account first to get the bigger bonus as the bonuses are only being offered to new Capital One 360 accounts.

What else could you set up an automated savings plan and savings bucket for? Do you already automate your savings? If so, how? Please comment below.

Do you know a friend who could benefit from the $25 or $50 bonus plus a great tool to automate their savings goals?  If so, please share this with them.  Thanks in advance! 

 

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Comments

    • says

      Yes, Capital One 360 used to be ING Direct in the States. It’s the same, just has a new name. It is great and easy to use… I just miss the 5%+ interest that they use to pay back in the 2005ish time frame!

    • says

      I needed this guide a year ago too… you are not alone. They always say there are two great time do set up your automated savings plan: 10 years ago and today.

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