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The holidays are a time for family, joy, peace, and giving. Sometimes the giving part can become overwhelming and end up costing a pretty penny by the time you’ve crossed everyone off your list. Don’t let yourself get overwhelmed. Having a plan can help reduce the stress of overspending, and it might make your holiday season a little less hectic.
Here are some ideas to help you get started:
Start by creating your holiday budget.
If you want to keep a tight rein on your spending this holiday season, it can help to create a budget, but you have to stick to it.
If you’re not sure where to start, you can find some budgeting basics here.
Make a list and check it twice.
Creating a list of the people you want to buy gifts for can help you stay within your budget. If you focus on how much you can spend on each person instead of what you’d like to buy them, you’ll find this might help you stick to your spending limits.
If your list includes charitable donations, here’s a great article that will help you consider more ways than one to give and how to avoid emotional giving.
Be cautious with credit cards.
It’s easy enough to let your credit card usage get out of hand, especially during the holidays. Try to use the card that offers the lowest interest rate or the best reward options, and always stick to your budget.
The First Source Platinum Visa® card offers you a low non-variable rate card or variable rates with reward options that can help you save.
Look for low-rate Holiday Loans.
Holiday Loans can help you plan ahead, stick to your budget, and typically offer a much lower interest rate than most credit cards. By borrowing only what you need, you’ll remain inside of your budget limits, and you’ll most likely pay this type of loan off much faster as they usually offer a short 1-year term.
Check out our First Source Holiday Loan rates and guidelines.
Take advantage of sales and free shipping days.
Holiday sales usually start in November and don’t end until January. Clipping coupons and comparing different sale prices, both in-store and online, may save you a buck or two.
If you appreciate the ease of buying online, try to complete your purchases on December 14th this year. This is known as National Free Shipping Day, and many online retailers have joined this campaign since 2008. The date changes each year but generally takes place in mid-December.
Thoughtful always outshines expensive.
Think simple. A gift is not about how much it costs, but about how much thought was put into it. Giving of yourself, your time, and your energy will definitely be appreciated by the recipient. If you're trying to save money or budget better, it can be a win-win.
If you’re looking for other ways to creatively save money this holiday season please check out this article. These recommendations can help you manage the stress of planning and budgeting expenses, and help you save time for the joy of family this year. If you’d like assistance with your holiday planning you can call 315-735-8571 to speak to one of our friendly Financial Service Representatives or you can schedule an appointment here.
If you would like to schedule our Community Educator for a seminar or workshop for any Financial Friday educational topic, please email your request to FinancialEducation@fsource.org
We look forward to helping you.
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