Christmas Club

Filed Under » , ,
Dictionary Says

Definition of 'Christmas Club'

A short-term savings account that usually pays out the full account balance to its account holders once each year, right before Christmas. Christmas club accounts pay depositors monthly interest on their account balances and often punish early withdrawals by retracting interest earned if money is taken out before a given date.
Investopedia Says

Investopedia explains 'Christmas Club'

Because of the tremendous pressure put on people to save money for Christmas spending and the debt loads that consumers incur just before the holidays, many financial institutions offer their customers Christmas club accounts. Usually, Christmas club accounts offer systematic savings through automatic withdrawal upon deposit of paychecks to a checking account.

Articles Of Interest

  1.

    What's On A Consumer Credit Report?

    A look at the various components and considerations that go into one's credit report and credit score.

  2. Tips For Avoiding A Holiday Spending Hangover

    You don't have to go into debt to have a happy and memorable holiday season. Use these tips for a bountiful Yuletide on a Scrooge-like budget.

  3. Earn A Holiday Bonus Through Energy Savings

    You can enjoy the festive season without a jolly increase in your energy costs. We'll show you how.

  4. 'Twas The Night Before Christmas

    Here's our investing adaptation of an old holiday classic.

  5. 8 Gifts For Financial Geeks

    Put one of these unique offerings under someone's tree this year.

  6. Sneaky Strategies That Fuel Overspending

    Find out how to avoid six of the worst vender ploys this holiday shopping season.

  7. If I want to have some cash in a liquid account for unexpected emergencies, what is best? A savings account or another type?

    It's always a good idea to keep some money set aside in a liquid form, but it's a double-edged sword, because the more liquid your money, the less it's earning. If you never have an emergency, ...

  8. 7 Easy To Understand ETFs To Replace A Savings Account

    If you have a savings account or certificate of deposit (CD), you’re probably not making much more than 1% each year from interest.

  9. How To Pay Off Christmas Debt

    Here are some common sense tips for getting over the financial holiday hangover.

  10. 5 Highest-Grossing Christmas Movies

    Though these movies may have relatively short lives in theaters as a result of their seasonal appeal, many of these films bring in an impressive amount in sales.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Yield Elbow

    The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, signifying where the highest interest rates occurred.

  2. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  3. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  4. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  5. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  6. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=6f59c941543f21f105fce3a811e29011