Presenting the newest sidebar: The Gift Fund

I decided to open up a savings account for gifts. Just gifts in general – birthdays, anniversaries, weddings, Christmas, etc. Throughout the year, if I see something I think someone would like, I will buy it and save it until their birthday or Christmas … so by having a savings account set up specifically for this purpose, I won’t have to try and rearrange my monthly budget to accommodate these random purchases.

For example, I saw an awesome book I know my sister would LOVE. So I bought it. I probably won’t be able to give it to her until Christmas (her birthday was in March), but now I have it. And I won’t have to panic around the holiday season, trying to find her the perfect gift. I also have about half of BF’s birthday present purchased, even though his b-day isn’t until June.

So, I’ve added Gift Fund to my sidebar. I don’t really have a target goal, but ideally I’d like around $500 by the time Christmas rolls around. That being said, this fund will always have a revolving balance. I doubt it’ll ever just sit with exactly $500 in it, because I’ll be spending as I’m saving.

Also, I’m not going to set up an automatic deposit into this account. I’m just going to throw random money in there whenever I feel like it.