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Christmas Funds


Hatch
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After Arthur stole the Albert Square Christmas fund I would have thought it would have been a lesson learnt, but not so,

 

http://www.bbc.co.uk/news/uk-england-wiltshire-20712684

 

Anyway, my question is. How do these things work? what are the benefits?

 

Serious answer you save the money up over the year with a few friends and the interest on the money goes to a charity or is split between all participants.

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I used to do this in my old local (Fountain, Hedge End). Every Friday I'd give the bar lady, Eileen (Hampshire's oldest at one point and not one for taking any s***), a tenner and in December cash out the £500. She used to earn the interest on the money on the proviso she wouldn't let p*ss heads like me and the other regulars in there, anywhere near our money til Christmas. Worked pretty well actually. She would have between £15k & £20k by the end of the year so probably did well out of it back then (10 - 13 years ago) as banks actually paid interest then.

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I used to do this in my old local (Fountain, Hedge End). Every Friday I'd give the bar lady, Eileen (Hampshire's oldest at one point and not one for taking any s***), a tenner and in December cash out the £500. She used to earn the interest on the money on the proviso she wouldn't let p*ss heads like me and the other regulars in there, anywhere near our money til Christmas. Worked pretty well actually. She would have between £15k & £20k by the end of the year so probably did well out of it back then (10 - 13 years ago) as banks actually paid interest then.

 

Why didn't you set up a DD from your current account into a savings account? Got to be easier than getting a tenner out every Friday?

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......every Friday I'd give the bar lady, Eileen (Hampshire's oldest at one point and not one for taking any s***), a tenner and in December cash out the £500.....

 

Not only that, but by telling the ****heads in her pub there were only 50 weeks in a year, she got to keep the extra £20.

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