It’s easy to go overboard when shopping for holiday gifts, but the fallout from seasonal overspending can last all year. The American Savings Education Council offers some helpful advice for getting a grip on holiday spending – BEFORE it gets out of control!
- Open an allU.S. Christmas club account. Christmas club accounts are a great way to save money for the holidays! You choose how much you want to save each pay period and the money is automatically diverted to your Christmas club account. If you save as little as $25 each pay period, you’ll have over $600 by the time December rolls around. To establish your Club account, call or visit us today!
- Create a budget and stick to it. Make a list of all the people you intend to buy gifts for and how much you’d like to spend on each person. Tuck your list into your purse or wallet so you’ll have it with you if you come across that perfect gift.
- Draw names. If you’re part of a large family or circle of friends, suggest drawing names. This will cut down on the number of gifts you have to purchase, and if the group agrees on a limit for each gift, you’ll know exactly how the purchase will fit into your holiday budget.
- Shop online. Everyone knows that shopping online is convenient – but it can also save you money! The Internet makes it easy to compare prices, and many online retailers offer free or discounted shipping during the holiday season. Shopping online also makes it easier to resist the impulse purchases that distract so many holiday shoppers at malls and traditional retail stores.
- Get creative! It’s the thought that counts, so why break the bank with expensive gifts? Thoughtful, home-made gifts mean more, and are less expensive too. Turn to your talents and interest when searching for creative gift ideas.
- Use credit wisely. If you plan to use your credit card for holiday purchases, only charge as much as you can pay off when the bill arrives. By paying your credit card balance in full each month, you won’t have to regret holiday overspending all year long! allU.S. Credit Union offers a low-rate VISA card starting at 8.99% to meet your needs – call today to learn more or to apply!
Don’t spend the holidays stressed about overspending! Plan ahead, spend smart and you’ll be able to relax and enjoy this special time of year.