While the Holiday Season can often be a time of family, warmth, and traditions, it can also lead to financial stress. If not fully prepared, the stress can put a burden on finances, which often dampers the holiday spirit. Here are a few, helpful ways to prepare for the upcoming season’s expenses that should alleviate some stress during a typically joyous time. Here are some tips to better manage holiday spending:
List out your expenses and create a budget
Make a list of everyone you intend on gifting to this year. This can include everyone from family members, friends, co-workers, and teachers. Set a realistic goal of how much you are looking to spend by allocating a specific amount for each person. The trick here is to not go over this budget once you have set it. Stick to the amount that is set for each person and from there, see how you can stretch your dollar.
Take advantage of Black Friday and Cyber Monday deals
In terms of “stretching your dollar,” utilize the exceptional deals and discounts that happen during Black Friday and Cyber Monday. Electronics, toys, and other hot-ticket items of the year are often found to be featured during this time. Keep an eye on the items you are looking to buy and see if they are featured in this year’s store holiday catalog or on their website. Retailers often announce their special price on popular items weeks ahead. You can also look for “flash deals” that are often found online during Cyber Monday. By doing so, you will be able to make your budget go further.
Use coupons and rebate apps
Similarly, research if the stores you are buying from offer coupons during the time of purchase. Oftentimes, retailers will put out coupons during this time of year that you can use to maximize your dollar. Be sure to read exclusions on the coupon to make sure it’s valid before purchase. It’s also important to read the fine print to be sure your item isn’t excluded from the coupon. Check your mailbox for coupons and discounts that are sent to you from local outlet malls or stores that you frequent. You can also check websites to see if they have any promotions going on that allow you to sign up via email to save.
There are also various apps that allow you to earn cashback on your purchase. Oftentimes, they require making a purchase, uploading a receipt to show proof of purchase, followed by a credit or rebate of a portion of your money back. Check out this list for the top 12 best cash-back apps of 2021 that will help you maximize your dollar. Save with these apps year-round that even include your everyday trips to the grocery store.
Choose a fun gift-exchange game
Rather than buying for everyone individually, opt for a gift-giving game such as white elephant. Set a spending limit amount that the rest of the participants can agree on for the game. Click here for different game ideas to play that include directions and printable PDFs, if needed! By opting for a gift-exchange game, you will potentially spend less versus buying separately all while having fun.
Earn extra cash
It’s not uncommon to pick up a side gig specifically for holiday spending. There are numerous retailers that hire seasonally to assist with the influx of shoppers during this time. Many retailers, such as Target, Amazon, and UPS are typically bustling with shoppers that require heightened performance. Check out hiring websites such as ZipRecruiter and Indeed to help you with your search.
If you currently aren’t able to take on an extra job, consider selling unused items around the house. You can earn extra cash from unwanted furniture, clothes, shoes, books, baby items, and décor. Check out different websites you can sell on that include: Mercari, Facebook Marketplace, Craigslist, eBay, and OfferUp to name a few. Give your items new life while pocketing the extra change.
Borrow with Eastex Credit Union
As always, we are here to help with the stress that often accompanies the holiday season. After all exhaustive efforts, sometimes a little financial help is necessary.
Take advantage of great current rates that allow you to have peace of mind this holiday season. Apply for a personal loan today that will help assist with purchases and gifting during this time. With worry-free installments, you can focus your attention on getting the perfect gift.
Similarly, you can apply for an Eastex Visa credit card for the holiday season spending. This is a great option for only buying what you need and paying later. Have peace of mind with knowing you can purchase what is needed this holiday season, when you need it.
Contact us today for any of your holiday spending needs at (409) 276-2525.