INDUSTRY INSIGHT
SAVING MONEY
SPONSORED CONTENT
How to actually save money during the holidays
I just read a statistic that said the average person celebrating Christmas , Kwanzaa and / or Hanukkah this year will spend $ 804.42 . Do you have that much saved ? Many of us do not . Here are a few tips to help you get the most out of your holiday shopping and hopefully help keep you on track and out of debt .
1 . Write a list – It ’ s the number-one tip ! Take 30 minutes at the start of the shopping season to write a list of every single person you will be buying for and assign a budget for each gift . This is an invaluable tool to help keep you on track and not go over your holiday spending budget .
2 . Set aside a little money each pay – If you haven ’ t planned in advance and saved as much money as you need , it ’ s never too late . Start now and set aside as much money as you can from every paycheck and make that your shopping budget until the next paycheck . Sometimes taking a little bit of money each paycheck makes it easier to not overspend on one gift . Then next year start saving a little every paycheck beginning in January . Setting aside just $ 20 a week starting in January will give you $ 1,060 to spend next holiday season .
3 . Start comparison shopping online – Especially for big-ticket items like televisions and computers , online research can really save you time and money . In the end you may find a better deal at your local “ big box ” store vs . a website , but at least you can do all the research from the comfort of your home before venturing out . Many say that online shopping and department store shopping will top the list this year in terms of popularity .
4 . Shop the ads – Retailers sometimes put the hottest deals in the weekly ads . Spending a few minutes a week looking through the ads can save you a lot of time driving to different stores to find the best deal .
5 . Buy gift cards that earn you incentives – Studies show that 69 % of women prefer gift cards over other gifts . Many times you can buy gift cards using a store loyalty card and earn rewards for yourself such as discounts on gas or other purchases . If you are going to spend the money , why not earn a little for yourself in return ?
This Industry Insight was written by Wendy Kingsland . Wendy Kingsland is the CEO of Visionary FCU in Bridgeville . Prior to joining Visionary in 2011 , she was employed by Clearview FCU from 1991-2011 . Kingsland currently serves as Vice President of South West Communities Chamber of Commerce . She is active in the Pittsburgh Chapter of Credit Unions , serving as a board member since 1991 and currently serving as Treasurer . She also serves as a Director for the Pennsylvania Credit Union Association .
6 . Don ’ t rely on credit cards – It ’ s so easy to overspend during the holidays by pulling out our cards when we are short on cash , but if that balance ends up being carried into the next year , that ’ s a post-holiday trend we don ’ t want . Spending $ 700 on a credit card with 18 % interest over a few months will cost you $ 770 .
7 . Enjoy the season – In the end , the holidays are all about enjoying friends and family . Staying focused on time with loved ones and other joys of the season can help you to keep stress in perspective .
And if you didn ’ t get a good start on your holiday savings for this year , make a pledge to start a savings plan in 2017 . Your local community credit union or bank can help you set up a holiday savings club . That way next year you ’ ll start off on the right foot !
Apply today !
2.99 % APR *
up to 18 months
Avoid the shopping rush and using a high rate credit card to get the job done . With the Jingle Bucks Loan Special you can enjoy a low rate loan and make the holidays bright for the ones you love .
Call 412-221-6660 for more details ! All the Way to the Holiday !
201 Beram Avenue | Bridgeville , PA 15017 www . VisionaryFCU . org
* APR = Annual Percentage Rate . Loan rates listed are : “ as low as ” rates and your final rate may be higher depending on credit worthiness and debit to income ratio . Other rates and terms available . Any or all promotional rates and offers may change and / or end without notice . Approval is based on normal underwriting requirements and income verification .
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