Start saving now to prepare for Christmas


BIRMINGHAM, Ala. (WIAT) — We are less than six months away from Christmas and you might not be thinking of the holiday shopping rush quite yet, but experts say you might want to start saving now anyways.

The best time to start saving is actually right after the previous Christmas and around the beginning of the new year. Just remember, saving anytime of the year is better than not saving at all.

So what are some simple ways to save money? America’s First Federal Credit Union says opening a Christmas Club savings account is one good way.

How does it work? You can deposit money in person or by automatic transfer from a checking or savings account to the Christmas Club account. Then, in mid-October, that money is transferred back over to your savings or checking account so you can start buying those perfect gifts.

There is a penalty for early withdrawals to encourage you to leave the money alone. Dividends accrue quarterly on balances over $100.

If you aren’t looking to save money for Christmas, you might be looking to save money in general. Easy ways to put away money include checking your interest rate on car and home loans or consider refinancing to a credit union for possibly a lower interest rate.

You can also have a certain amount direct deposited to your saving account or a special savings account to help you save for special purchases.

If you would like to learn more, just stop by any of AFFCU’s 19 branch locations or online at

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