There are times when it seems like all you do is work and despite all your work there never seems to be enough money left over for you to go on a weekend vacation to the beach or purchase nice Christmas gifts for your family.
For most of us, the problem is that when we have a couple of extra dollars, we automatically spend it even though we know that we should be saving it.
There are some banks that are trying to help out. Some of these banks have set up special accounts that allow the customers to only withdraw money at certain times of the year.
Some of these accounts are called Christmas savings and Vacation savings account. They do not have a minimum start balance.
If you are someone who has always wanted to go on a decent vacation, but can never seem to find the extra cash, all you have to do is go to your bank. If they have a vacation account you should open one and deposit a very small amount of money.
Each week you should stop and deposit another small portion of cash into the account. This can either be the couple of extra dollars that you had left over after you got done with your weekly grocery shopping, or it can be money that you consciously set aside.
Banks all have a different policy, but some of these vacation accounts are set up so that on the first day of June, the bank will send you a check for the amount of money that you were able to save. This is money that you can use to for whatever you want.
The chances are pretty good that you will be surprised by just how much money you were able to save simply by adding a few dollars here and there to your savings account.
The great thing about these types of savings accounts is that the banks have taken measures to discourage you from withdrawing the money.
One of the ways they do this is by not issuing a debit card that is connected to the account, meaning that if you want to withdraw the money you actually need to go to the bank and withdraw the money instead of just stopping at the ATM machine. Many of the banks have also attached an early withdrawal fee to the account.
If you keep the money in the savings account for a predetermined amount of time, you get all of it, but if you close the account early the bank gets a fee.
This is an excellent system because it means that you have access to the money if there is an emergency.
If your bank does not have one of these types of accounts, that is okay. All you have to do is set one up for yourself. Simply go to your bank and create a whole new savings account, and make an effort to make lots of small deposits into it.
You will be the one that has to come up with the willpower to leave the money alone and not spend it before it is time.