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6 Tips For Giving On a Budget

November 21, 2018

First Source Member managing their holiday finances by getting creative.Manage your holiday finances with a little thought and planning

Start by giving yourself a limit: a fair amount you’re comfortable spending that makes you feel good about giving, but not over-taxed. Remember that simple, heartfelt gifts are much more appreciated than a large quantity of high-priced trinkets. These simple tips can help you make the holiday both rewarding and less of a financial burden. 


1. Make a Plan

Suggest what or how much to exchange, and decide together on a gift limit. You could also exchange something simple, like cookies; or give to charities in each others’ honor. You might even learn that you’re not the only one looking to save.


2. Play Secret Santa

In a larger family or group of friends, everyone can save when you choose names and give to just one person instead of every member of the crew. This method also allows for setting ground rules to save even more, such as limiting the value of the gift. It might even kick off a new tradition for every gift-giving event.


3. Purchase Fewer Items in Larger Quantities

To save both money and time, find a sincere, useful gift, and buy enough for everyone in bulk. You may save on the purchase price, and can sometimes find ways to personalize each one to give them more meaning. Get creative by putting together “gift baskets” for each person full of small, thoughtful items, and personalize each with a note.


4. Enjoy Experiences Together

Suggest a family or friend outing instead of gift exchanges. Everyone can handle their own expenses, and you can keep it simple and fun. Consider an outdoor activity that includes treats, a local play, or a visit to a nearby attraction. Or have a cozy get together at home to save even more. You could also find photos of your experiences from the past year to frame and give.


5. Give the Gift of Your Time

An even better money-saver and a really nice thing to do: volunteer your time in a meaningful way, such as helping on someone’s DIY project, fixing an item they can’t repair themselves, babysitting, or helping out with a big commitment. Make sure it’s something you’re good at, and remember to follow through on the promise to help.


6. Take Advantage of Specials 

Find stores that offer discounts or bonus gifts if you purchase a certain amount, like gift cards (e.g. “Buy a $25 Gift Card and receive a Free $5 Gift Card”). You can apply the bonuses to gifts for others, or put them into your own budget for your needs once the holidays are over. Don’t forget to take care of yourself!


Remember that giving gifts is all about the spirit of generosity, and doing something kind for the receiver of your gift. Pay special attention to their wants and needs, and you’ll always find something special and meaningful to them. Most of all, embrace the joy of giving! 

Have tips you’d like to share? Help others on a budget with your ideas. 
 

Posted in: budget, gifts, giving, holidays, tips

First Source Gives $2,500 Donation to the Amanda L. King Memorial Fund

January 18, 2011

Many votes were cast on First Source’s Facebook page for worthy causes around our region. The winner of their inaugural Facebook charitable donation campaign is the Amanda L. King Memorial Fund, one of their write-in candidates. This wonderful cause, helping area families who have children with cancer, works year round to honor the wishes of a young woman who was lost to cancer. The Fund, with offices located in Camden, will make very good use of the $2,500 donation. More information on the organization can be found here.

“This has been a great way to reach out to our community of friends,” said Mike Parsons, President and CEO of First Source Federal Credit Union. “We hope this is the beginning of a new way to bring everyone together to help us give back to our neighbors throughout Central New York. Congratulations to the Amanda L. King Memorial Fund.”

Stacey Borst, President of the Amanda L. King Memorial Fund, thanked First Source and said, “This donation will go a long way in helping the families who have a child fighting cancer and being treated at Golisano’s Childrens Hospital in Syracuse. These families go through sometimes severe financial hardships during a time when their lives have been thrown into turmoil. This memorial fund was started to alleviate some of the financial burden on these families so that the parents and caregivers of these children can concentrate on the health of their child. It is with the help of local business and private donations that we are able to make this assistance possible.”

First Source Federal Credit Union will be presenting the $2,500 check to the Amanda L. King Memorial Fund next week.

Posted in: back, giving

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