Harry's employer offers a "Holiday Account," which means they will take $50 a month out of Harry's paycheck and deposit it into this account throughout the year.In December,they give Harry the money in the account to spend during the holidays.Setting up such accounts:

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All of these options are true. Setting up a separate account for holiday spending ignores the fungibility of money (the fact that all money is equal and can be used for any purpose). It is also irrational to set aside money specifically for holiday spending, as it may limit one's financial flexibility throughout the year. Lastly, it creates an artificial distinction between the money saved in the holiday account and the rest of Harry's income.

Harry's Employer Offers a "Holiday Account," Which Means They Will