We are quickly heading into the holiday season and soon we’ll be bombarded with messages that encourage overspending. Credit cards, layaway, and other offers make it tempting and easy to spend more than you have. Combine that with constant sales emails, special shopping days, social media promotions, and free shipping – and the messages are enticing. Without careful planning, you can overstretch your budget and get into trouble quickly.
With all the additional holiday expenses, it’s important to have a budget and a plan and stick to it. With a little advanced planning, you can have an affordable holiday season!
Tips to Stay on Financial Track
- Set a holiday budget. Determine how much you can afford to spend to cover your holiday expenses. When you are considering the amount, be sure that you only use money that you have set aside for Christmas or extra money that you can find in your budget. Do not spend more than you have saved with a plan to pay it off later. Paying for holiday gifts on a credit card should not be your first choice.
- Shop with a list. Shop with a list of what you want to purchase. If you wander around looking for ideas, you’ll find some great impulse buys that are probably outside your price range. Start with a plan and know what you are shopping for to avoid costly purchases.
- Do your research. Start your search online so that you know exactly where to get the best deal and save time in the process.
- Watch for Black Friday and Cyber Monday deals. The days around Thanksgiving are very popular shopping days and retailers usually offer deeper discounts. Keep an eye out for the items on your list to see if you can get a good deal.
- Consider DIY gifts. Some of the best gifts are the personal creations that come from the heart. Making gifts like bath salts, cookies or other crafts are gifts that will be well-received without breaking the bank. Check out these ideas!
- Plan ahead for 2019 and open a Christmas Club Account. With a Christmas Club Account, you can conveniently make deposits throughout the year to save for holiday shopping. You’ll automatically receive a disbursement from your account just before the holidays, so you are ready to shop without charging up your credit cards.
- Consider a short-term holiday loan. If you still find yourself a little short on funds, a short-term personal loan is a more affordable option than using a credit card. Our Ho-Ho-Holiday Loan provides:
- Rates as low as 85% APR1
- Flexible terms up to 48 months
- One set monthly payment
- No pre-payment penalty
Enjoy your holidays without breaking the bank! Apply Today
1APR=Annual Percentage Rate. Rates are based on creditworthiness and the term and are subject to change. Normal credit criteria apply. Your rate and the term may vary. Rates current as of November 2019. A fixed-rate loan for $2,000 based on 7.85% APR paid over 24 months would have 24 monthly payments of $90.32.