Bragg Mutual FCU
Bragg Mutual FCU

Tips to Budget for Holiday Spending

The holiday season is here with us, and we all can’t wait to get started with the seasonal shopping and celebrations. Keep your holiday spending in check with these tips.

Make a Budget for Each Expense

The key to responsible spending is establishing a list of all your expected holiday expenses and determining how much you can afford to spend on each. From travel expenses to gift exchanges with loved ones, have it all listed and assign a specific amount for each gift/expense. Knowing how much you have available to spend on each item helps you narrow down ideas and make choices that work with your bank account.

Track Your Spending

Track your purchases to ensure you stick to the budget. As you begin to purchase gifts and spend your money, create a list that shows how much you’ve spent. Another way to track spending is by creating a shopping list and crossing the purchased gifts off the list as you shop. This gives you an idea of how much you have available to spend and will make it easier to make adjustments between categories if needed.

Do Your Research

Take some time to compare prices online before heading to the store. Many online stores offer extra savings and free shipping especially over the Black Friday weekend so make sure you look out for that.

Give Personalized Gifts Instead of Pricey Ones

There are less expensive yet very meaningful gifts you can get for your family and friends. These could include handmade gifts such as crafts, baked goods, etc.

Avoid Credit Cards

Consider having a cash-only policy for all holiday expenses. That way, you won’t go past your budget.

Take Charge of Holiday Spending With a Holiday Club Account

Start saving earlier in the year with a Bragg Mutual FCU Holiday Club to make shopping during the holiday season easier. Get started by reviewing the previous year’s shopping budget and divide the amount by 12 to see how much you should put aside every month to cover the next holiday spending. 

Contact us today at 910-222-1500 to learn more and get you started on smart holiday spending.\

*Subject to credit approval. Rates disclosed reflect our best rates and may be different based on credit underwriting or services used. All loan or deposit 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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