Prepare for the Holidays
By: First American Credit Union
Start budgeting, and saving now.
Have a plan of how much you are going to allow yourself to spend and who you are going to spend it on. If you don’t have the money saved, think about a plan on how you will be able to save that money from now until then. Start looking for prices on what you want to buy, this will help you see how much these items cost and what is affordable for your
budget. This is not just for gifts: consider food, entertainment, lodging, and travel. Thanksgiving is right around the corner. There is a good chance that your food or transportation expenses will go up, too, in
the form of extra gas, food for extended family visiting and possible hotels, if you plan on doing the traveling.
After Thanksgiving there are usually holiday parties. Don’t think you have to do it alone! Potluck, assign tasks (bring drinks, bags of
ice, paper plates.)
Avoid department store credit card offers.
Department store credit cards often start with a very good discount on everything you buy, but the rate can balloon in a few month’s time, and then you end up in more debt than you would have otherwise. If you must borrow money, get a Personal Loan with us. You’ll have a reasonable percentage rate, and you can pay it off more
quickly without having to worry about hidden rules, fees and variable rates.
Remember, the bottom line is to keep the holidays in perspective, take a deep breath, and enjoy the season!
Limit, or eliminate, the use of your credit cards.
Credit cards are great for convenience, but, unless you pay them off in full, your holidays just got a lot more expensive. Do you think about paying interest on food or gifts or transportation? With credit cards,
you will have to pay that extra money per month. Try to make this a debt free Holiday Season. Work in cash and stick to your budget and
leave the plastic cards at home!
Stock up after the rush.
Seasonal products get hefty discounts in order to move them off shelves. Through the year, you can find great deals and stock up
for next year, if you know when and where to look!