Set a budget
Okay, it might seem a bit on the nose to have the first tip about budgeting be to have a budget. But it can be easy to overlook in the season of giving. Set your spending limit before you start shopping. Whether you budget per person or for different categories like gifts, food, decorations, and travel, it's your decision. But the important thing is to set one and stick to it. You don’t need to spend a lot to make your holidays festive.
Track your budget
Yes, that’s right. Once you have a budget set, it’s essential to keep track to make sure you stick to it. How you track spending is up to you. You can go old-school and set a spreadsheet, keep a note on your phone or the back of an envelope, or get a budget app where you can enter purchases. Like Saint Nick, keep that list (of receipts) and check it twice (to stay on track).
Strategize your spending
Black Friday and Cyber Monday are great days to find deals. But the earlier you start shopping, the more you can take advantage of deals before Thanksgiving. And by planning ahead, you won’t be panic buying right before the holidays, spending left and right just to have something for the gift exchange. Plan for sales, and consider coupon apps to help you save on goodies at the grocery store. It doesn’t hurt to have a rewards credit card to support your spending, so you can earn cash back or other perks in each purchase.
Plan travel as far in advance as you can
Travel has become more expensive between rising gas prices and soaring plane tickets. Add in the holiday price hikes, and it can seem impossible to afford. But the earlier you book your tickets or estimate fuel costs to put some money away, the better off you’ll be.
Go homemade and DIY whenever possible
Baking cookies, knitting scarves, or making candles can all be simple options for handmade gifts that can help you save money while showing your inner circle how much you care about them. The more you make on your own, the more you can save for the important experiences that make the holidays bright.
Take advantage of RMCU’s skip-a-pay
If you have an auto, ATV, boat, motorcycle, motorhome, share certificate, or signature loan with RMCU, you can apply to skip your payment for a month over the holidays. On approval, you just pay $35 to skip that payment for the month. You can use the extra money in your pocket to cover some holiday expenses. The payment goes at the end of your loan term, with no penalty.
Regarding your financial life, RMCU has your back all year round. But when it comes to the holidays, you must have a credit union you can trust with the spending to cover all your family traditions and holiday memories. Holiday helper loans can help fill in the gaps in your budget to make the most out of the season. Apply online to see if you qualify, and gear up for winter festivities.
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