Holidays … Not Going For Broke

Christmas comes but once a year. It means fun, gifts—and bills! But you can have a bill-free Christmas if you save for it systematically.Christmas Club

This was how Wells Fargo marketed its “Christmas Club” in the early 1960s.

Christmas ClubI came across a few examples in the Archives of how Wells Fargo promoted savings accounts to assist with holiday spending. The idea was simple: Make weekly deposits to your Christmas Club Account, and toward the end of the year you receive a check for the amount saved—plus regular interest. You planned ahead for what you could afford and what you would spend.

How sensible! I think this worked rather well until credit cards became prevalent and allowed you to buy now and pay later (for which I am guilty).

I realize that growing up, I benefited from a solid holiday savings plan. My mother, a single parent with two children, regularly contributed to her Wells Fargo Christmas Club Account every month in order to pay for bills and Christmas gifts. Today, she recalled for me how “wonderful” it was to get that check at the end of the year. I’m sure it is how I was able to receive my most memorable Christmas gift—a Barbie Townhouse®.

Wells Fargo no longer offers a Christmas Club Account per se but does provide alternative savings plans to meet your financial goals, whatever they may be.

As for me, I plan on spending more on bills than presents or savings. Merry Christmas, heating bill!

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5 Responses to Holidays … Not Going For Broke

  1. Bitter Al says:

    Bills? I don’t need to pay any stinking bills!

  2. Anonymous says:

    why do you even do this is you are not the best

  3. "Appreciated customer" says:

    although coming across a few examples, i have come to the conclusion that wells fargo financial is the one for me!

  4. Charles Riggs says:

    (Keep those cards & letters coming in, folks!)
    Dear Satisfied —
    Glad you got the deal you wanted!
    Dear Al —
    Once again, you get the last, BEST word on the subject!

  5. Juan says:

    Cool images! Ah the sixties.

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