by Chelsea Springli 
Holiday shopping can bring joy to one and stress to another. Many look forward to this time of year. However, a rough economy, financial setbacks, and a tight budget can make the season more stressful that we remember a few years ago. If you’re stressed about making the most of your holiday fund this year, check out these tips.
Make a List and Check It Twice
Many are struggling financially, so it likely won’t be a surprise to others if your gift recipient list is shorter this year. Once you have your list complete, figure out a realistic amount to spend on each person and write down a few gift ideas in your price range for that person.
Once you trim your list, make a holiday treat or handmade token for those who got the cut. It really is the thought that counts. This way, you can still acknowledge those you’re grateful for in your life without creating unnecessary financial strain.
- Pro tip: Try a budgeting app like EveryDollar to keep your spending in check. You can use EveryDollar for regular monthly budgeting, so you can also create a section in your budget for holiday purchases. Online and mobile banking will also help you stay on track with your spending on the go.
Shop ‘til You Drop
Holiday shopping is already in full swing. Most people want to avoid crowds, so they are already hitting the outdoor outlet malls and online shopping. Outlet malls are known for cheaper pricing. Plus, if you start your shopping online early enough, you can likely avoid high shipping costs. Spreading out your holiday shopping over several weeks also makes it easier on your budget. Make sure you are shopping the sales and collecting coupon codes for in-store and online purchases to help lighten financial strain.
December is the best time to buy cars, appliances, winter clothing, and electronics. Also, you get the best deals on cards, decorations, and gift wrap during the days right before and after Christmas. Discounts of up to 75% off can shave a lot off your holiday budget for next year. If you have holiday gatherings in the last week of the year, you may be able to save big by waiting until December 26th to buy those gifts.
- Pro tip: Did you know credit union members get special perks as well? Check those out to see if you can save even more. And if you’re ready to purchase that new car, we’d love to help!
Be the Host with the Most… Intentional Spending
Many people are choosing to host smaller holiday gatherings this year. The upside is that it will save you tons on food, treats, and beverages since you won’t be buying for as many people. If you’re hosting guests, keep costs down by asking everyone to bring their favorite side or dessert and include festive recipe cards with the chef’s name on it.
This applies to Thanksgiving too. This year, I’m going to host a Friendsgiving. I’m making the main entrée. My friends are each bringing a side to share. Then, we’re making dessert together. This setup will help all of us save money to give our budgets a little more wiggle room.
- Pro tip: Use DIY decor featuring natural items, like holly and pinecones. Gather the kids and go on a hike to find outdoor holiday decorations in nature. Not only will it save you money, but it will also give you some stress-free outdoor time with your family.
To Travel or Not to Travel?
If you must travel home for the holidays, don’t forget to figure in other incidental expenses beyond gasoline and the cost of a plane ticket. If you’re traveling by car, save money on your gas fill ups with your discount as a Premium Checking accountholder. Don’t forget to figure in tolls and any emergency costs that may come up. If you’re flying, consider baggage fees, parking and shuttle costs, and the expense of ground transportation once you arrive.
- Pro tip: Don’t forget Fluffy! You’ll need to pay someone to take care of your furry friends. Plan ahead to make arrangements for your fur babies. Or, just ask a neighbor to take care of Fluffy. It’s a win-win because you’ll save some cash by not having to board your pet and your neighbor will get to make some extra money in the process.
Reduce Your Financial Stress This Year
Keep your holiday dollars in check, and you’ll surely have some holiday spirit left even after the last elf is packed away and the January bills start rolling in. We at Alltru Credit Union wish you all a happy, healthy, and stress-free holiday.
