Bragg Mutual FCU
Bragg Mutual FCU

Spending Wisely This Holiday Season

The holidays are almost upon us. As for the shopping public, the holiday season can be a particularly stressful time with all expenses going toward gifts, cards, decorations, travel, dates, special meals, gift exchanges at work or charity donations. Being financially prepared can help you keep your holiday spending in check.

Here are some tips to avoid going overboard on holiday spending.

Set Your Budget

Determine the total amount you have available to cover your expenses by working out a budget. Your budget has to work in tandem with your plan and your wallet. Don’t plan to spend more than your budget allows with a plan to pay it off later as this will only sink you deeper in debts.

Plan Your Purchases

Further, assign your budgeted amount to the different spending categories you’ll have during this holiday season and make all effort to stay within the range. The aim here is to stay away from unplanned purchases and impulse buys that can mess your budget. Having an idea of how much you’ll spend on each gift allows you to narrow down ideas before you shop.

Track Your Spending

Keep track of all your purchases. You’ll do this by keeping all holiday purchases receipts and adding them up daily to keep track of the amount you have left to spend.

Start Saving for Next Year

Save! Save! Save! And start saving early to make shopping in the next holiday season a little easier. Consider reworking your monthly budget to incorporate holiday shopping savings. With a Bragg Mutual Holiday Club account, you can set aside some money each month to cover your holiday expenses, making you stress a lot less about your holiday spending when the time comes. Contact us at 910-222-1500 today to learn more.

*Subject to credit approval. Rates disclosed reflect our best rates and may be different based on credit underwriting or services used. All loan rates are subject to change without prior notice. The information posted here is a service to our members. Although BMFCU strives for information accuracy, we do not guarantee or warrant information posted here. 

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