Bookmark & Share:             
Holiday Shopping on a Budget
December 2017
Home
Home Page
Personal Banking
Business Banking
Contact Us
Rates
Financial Resources
Hours & Locations
Privacy Policy
 Subscribe to our Newsletter 
 
Tell A Friend
 
Facebook linkedin Twitter

 
Holiday Shopping on a Budget
Tips to limit what you spend on gifts this season

The holidays should be time for celebration and generosity, not for accumulating credit card debt and draining your savings. By sticking to a budget and following these simple strategies, you can bestow meaningful gifts while staying within your financial means.

Create a budget

Donna Montaldo, contributor to TheBalance.com, advises that you make a spending budget before the holiday season hits. Make this an informed amount, based on what you can truly afford to pay.

Make a list

Maya Kachroo-Levine, contributor to Forbes.com, suggests making a list of everyone you want to buy presents for along with a certain amount you should spend on each person. This will help you stay within your allotted budget.

Avoid using credit cards

Montaldo recommends leaving your credit cards at home to avoid racking up debt while shopping. Mellody Hobson, writer for ABC News, recommends using your debit card instead. This way, you won’t be tempted to spend beyond your means and you won’t have to pay interest on your purchases.

Start saving early

Kachroo-Levine advises starting a holiday spending fund as early as possible so that when the holidays approach, you will already have a surplus to tap into. Consider setting aside $30 a week starting two to three months before the holidays.

Compare prices

Hobson suggests that you research prices before purchasing any gift. If you’re shopping in person, use your phone to check online to see if there’s a discounted price if you order an item online. You can also check prices of that item at similar stores.

Re-gifting

Another affordable option to stay within your budget this holiday is to re-gift an item that you received but don’t use or need, explains Montaldo. Make sure the gift is new and wrap it in an attractive package to give it a fresh look.

Go homemade

Browse ideas on Pinterest and others websites for simple gifts that you can make yourself. Montaldo suggests visiting the dollar store to purchase candy or nuts that you can package in mason jars and wrap with festive bows. Handmade items such as cookies or homemade bath salts are two additional ideas great for teachers and coworkers.

Rethink gifts for your partner

It can be easy to overspend on the people closest to you, particularly your spouse or significant other. Kachroo-Levine recommends setting money aside earlier in the year to purchase a high-cost experience or household item that you both have been wanting. Another great idea is to give your partner the gift of quality time this year, to avoid focusing on material possessions as gifts.

Amp up your gift’s appearance

Montaldo advises enhancing the visual appearance of your present by investing in quality gift wrap, ribbons, bows and accessories. You can also add a personal touch by making your own gift wrap, following do-it-yourself instructions on sites like Pinterest and Instructables.

Say “no” to holiday guilt

A thoughtful gift doesn’t necessarily mean an expensive one. Also, you don’t have to buy an item for every coworker and acquaintance you know, explains Kachroo-Levine.

Stay within your budget by applying these practical suggestions for giving affordable holiday gifts this season.


[PRINTER FRIENDLY VERSION]
Published by First Liberty Bank
Includes copyrighted material of IMakeNews, Inc. and its suppliers.
TELL A FRIEND
Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.
External links are provided for your convenience. The Bank does not endorse or guarantee the products, information, or recommendations provided by linked sites and the Bank is not liable for any products or services advertised on these sites. Each external site may have a privacy policy that differs from the Bank. Any linked site may provide less security than the Bank’s website and e-newsletter site.
ARCHIVE
November 2017
June 2017
May 2017

[MORE]


Powered by IMN