Holiday Shopping Tips

Don’t let finances put a drain on your holiday fun. Stay on budget and enjoy the season with these great tips:

1) Start saving early. Make holiday savings a monthly priority. Planning reduces stress when the shopping season comes around.

Consider setting up a My Choice Savings Account dedicated to holiday spending or a Christmas Club Savings Account. Both accounts give you the ability to deposit funds throughout the year or set up automatic deposit. We suggest setting up a monthly direct deposit into the account you choose because you can essentially “set it and forget it”.

2) Be budget-conscious & creative. Be like Santa – make a list and check it twice.

Once you’ve set a realistic budget, stick to it. Keep track of what you are spending and mark people (or items) off your list as you shop. Once you have reached your limit, stop shopping.

Save money with a homemade gift. Remember, it’s not about the price of the gift, it’s the thought that counts. Some of the most treasured gifts are those we make with our own hands.   

3) Be creative. Don’t feel like you need to buy for everyone. Be open to other ideas.

Consider a Secret Santa Gift Exchange. This approach doesn’t have to be limited to your friends and co-workers; it can be used for family gift exchanges, too. If you have a large family a Secret Santa Gift Exchange can be a great way to spend less and people tend to receive items they really want.

Don’t buy anything at all. Plan a gathering to create memories: bake cookies with your loved ones, go on a themed scavenger hunt, play holiday games or watch your favorite holiday movie.

4) Use smart resources. Sell back left-over vacation time if you’re able to, redeem credit card points that you’ve accumulated or use funds from bonuses that you receive.

 Take advantage of Skip-A-Pay or other special promotions your bank or credit union offers.  

Stick to only one credit card (if you absolutely need to use one). It prevents having to keep up with multiple balances and payments. Go with a credit card that offers a great rate, like our Platinum or Classic that have no annual fee, balance transfer fee or cash advance fee. Don’t get sucked into using in-store credit cards. If you do open or use an in-store card, pay it off immediately to avoid extremely high interest rates and fees. 

Cheers to a financially stress-free holiday season!