December 5, 2024
Categories: Checking & Savings Accounts, Education & Security, Financial Planning
By Dawn Kellogg
One of the biggest causes of stress during the holidays can be money. No matter how much we have saved and budgeted, sometimes we still stress about it. Here are some tips to help you navigate through your holiday expenditures!
Have a Spending Plan and Stick to It
Make a list of all your holiday expenses, pad it a little with a cushion for unplanned costs. Attach a dollar amount to each line item and stick to it. Bring your gift list with you on every shopping trip – you never know when you can grab a bargain!
Save Money from Each Paycheck
Put a specific amount aside each pay period to cover your holiday costs. Open a separate savings account for your holiday fund and watch it grow! The Summit’s RoundUp Savings* account is a perfect way to save throughout the year!
Cut out Non-Essential Spending
That daily stop for coffee adds up! Saturday morning donuts also add up. Cut down on some of those treats and discover how much you can save!
Give Homemade Gifts
People love homemade gifts! There are an infinite number of presents you can make to add a personal touch to your gift-giving.
Shop Smart
Smart shoppers plan ahead, shop early, compare prices, and never pay full price for anything. Keep an eye out for coupons and sales (both in-store and online).
Use Credit Cards Wisely
The holidays are a great time to use cards that offer rewards or points that will rack up fast with each purchase. Many credit cards offer extra points during this time of year which can be used for travel, merchandise, and more.
There’s enough to stress about during the holidays without adding financial worries into the equation. With some discipline and pre-planning, you can have a stress-free holiday!
*The Summit Federal Credit Union is federally insured by NCUA.