Dos and Don’ts of Holiday Budgeting
Published: December 06, 2018
Dos and Don’ts of Holiday Budgeting
When it comes to holiday budgeting, most people just don’t do it. During this time of the year, it’s easy to allow too many purchases to cause a bit of financial trouble come January. Yet, with a well-thought out budget, it can be possible to enjoy the holidays the way you want to without having to worry about next year. Our team at Santa Clara County Federal Credit Union is always available to help you stick to your financial goals. We encourage you to talk to us about savings and loan programs that can help you. As for this holiday season, here are a few dos and don’ts to keep in mind.
Do Create a Budget
Before the shopping starts, create a budget. Outline for whom you wish to buy and how much you plan to spend on that individual; doing this can give you some guidelines to follow throughout the season. It also helps you know how much you need to have available.
Don’t Forget the Extras
From the food you’ll serve at family events to the gift-wrapping, the extras can make the holiday spending skyrocket. Try to repurpose what you can from last year. You may also benefit from looking for creative ways to plan meals so that everyone can contribute. This can make it a bit easier for you to manage the costs overall.
Do Consider Loans to Help
If you want to consolidate some of your spending, try to avoid credit cards. Instead, consider a personal loan. County Federal may be able to offer some help for you. These loans can help you cover your costs for the entire holiday and they help you avoid the high interest rates on credit cards.
Don’t Forget About the Deals
One of the best ways to get what you want for the holidays – and make everyone on your list happy – is to shop discounts and deals. However, be careful about overspending. Buy what you need or plan to give. While this is a good time to purchase items you need at a discount, don’t buy something just because it is on sale.
Do Consider a Part-Time Job
If you really want to keep your budget healthy, consider taking on a part-time job. This may be one of the best ways for you to achieve your goals without running up your debt.
Make the holidays meaningful. Try purchasing fewer items, and perhaps items that are less expensive. Instead, focus on choosing gifts that keep every member of your family happy and your budget in line for the next year. That makes it easier to celebrate.
When it comes to making wise financial decisions, let our team at County Federal offer the help you need. Contact us today to learn more about our loan or savings programs that can help you meet your financial goals.
