As the fall season begins to close and temperatures begin to drop, there’s one thing we can be sure of: holiday commercials. Despite how you may feel about all the advertising, it’s a great time to get a head start on your holiday budget.
Shopping for most consumers begins long before Thanksgiving, and now that the holiday is over, it’s time to kick your shopping into gear! We’re providing you with some tips and tricks on how to budget best for the season.
- Do your homework. Look at your spending from last year. Did you overspend in some categories? Decide how much you can afford to spend this year and know your limit before you begin shopping. Start saving ahead of time by utilizing products like Savings and Club Accounts with Members 1st!
- Make a list and check it twice! Make a list of all your holiday purchases and upcoming events. Assign each purchase a specific dollar amount and trim down your list as needed to fit your budget. Remember, paying cash makes overspending obvious!
- Remember those unexpected costs. They may seem small, but unplanned holiday expenses can really add up over time! Consider greeting card purchases, food purchases, last minute gifts, travel expenses, charitable giving and mailing costs. Adding a miscellaneous line item to your budget may help cover unexpected costs as well.
- Consider inexpensive holiday activities. Plan a holiday craft or movie night at home. Add some hot chocolate to your thermos and drive around, looking at Christmas lights! Bake cookies for neighbors. Homemade gifts are wonderful too!
The goal is to spend your holiday season with loved ones, so plan and save ahead for your holiday shopping!
It’s never too late to start budgeting! Reach your holiday budgeting goals with our Goal Savings accounts. Set up to 5 Goal Savings accounts and customize them to help reach your goals. Set the dollar amount you are budgeting for and a target date for your goal and view your progress as you go along your saving's journey!
Federally insured by NCUA. We do business in accordance with the Federal Fair Housing Law and Equal Credit Opportunity Act.