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    Ways to Save this Holiday

    12/3/2019

    10 Holiday Spending Tips

    Don’t get caught up in the spending cycle this holiday season, and save with our 10 helpful ways to keep your holiday spending in check.

    Determine your holiday budget

    Before you start shopping, determine how much you are able to spend this holiday season by looking at your budget. If you don’t have a budget, check out our 6 easy steps to create a budget

    Ways to Save this Holiday

    Make a list

    Write down everyone you plan to give gifts to. Then put a dollar figure next to each name for the amount of money you are willing to spend on a gift. Setting price limits will keep your holiday budget on track.

    Brainstorm ideas

    Now that you have your list and price limit for each person, brainstorm possible gift ideas. Having a gift idea in mind, will keep you on track when searching for the best deal.

    Make your gifts

    Handmade presents are a great way to save money while making something memorable and meaningful. Pinterest can be a great tool for researching DIY projects for the perfect holiday gift.

    Draw names

    Instead of buying something for everyone, consider a gift exchange where you draw names. This can relieve some of the stress and financial burden of exchanging gifts with everyone.

    Split it

    Follow the divide-and-conquer rule by shopping with a family member or friend. If there are multiple purchase discounts, like a two-for-one special, go together and split the savings, thus taking advantage of the offer.

    Review your spending

    Your budget does no good if you don’t effectively track your spending. Track your spending easily through online banking or a mobile banking app allowing you to easily monitor your accounts. Text banking is another great way to stay on top of your spending by getting text notifications for each transaction or even your account balance at the end of each day.

    Use Debit instead of Credit

    A debit card automatically forces you to spend only what you have helping to keep you on budget, and allows you to avoid paying interest. If you are one to use credit for most of your purchases, be sure to stick to your budgeted list, and use a card earning you rewards in return. To avoid credit card debt especially during the holidays, stick to our 7 smart ways to avoid credit card debt.

    Embrace a Pot Luck

    A great way to cut your costs on a Christmas feast is to ask your guests to bring something to share instead. Not only will this distribute the economic burden among your guests, you’ll spend less time in the kitchen, and more time with family and friends.

    Know When to Stop

    Although the holiday season brings great deals and discounts, don’t buying something just because it’s a great deal. Know when to stop. Review your spending, budget and list frequently, to stay on track.

     



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