As you prepare for the holidays, saving money is always important. Check out our 5 tips that you can use to save money during the holidays.
#1 Start with a budget.
After calculating how much is needed for your month-to-month expenses, set aside a dollar amount you are willing to spend during the holiday season. If you put this number down from the start it will be easier to follow that budget and not go over on spending.
#2 Be disciplined with your shopping.
The best discipline comes from knowing what you need to spend your money on. Some of these categories could be:
Who do you need to purchase gifts for
How many people do you need to feed during the holidays
Unexpected expenses or donations
Once you have a better idea of how much you can spend on each of these categories, shop around! Luckily, we have the luxury of the internet nowadays to see who may or may not have the best prices.
Whether you were planning to shop online or in person, the internet can be a great place to start. If you search online first, you lower the risk of impulse purchases when you visit a store without knowing if you can get it cheaper somewhere else.
#3 If you are hosting a party, make it a potluck!
Cooking for your own family can be expensive nowadays let alone cooking for multiple families! Take the opportunity of hosting as a way to delegate what you need help with. Pick what you want to cook or bake and have others bring the rest!
#4 Be conscientious about holiday decorating
It can be incredibly tempting to update your holiday décor, but it can be a great area to save if you don’t have the extra funds to throw at it! If you have some items to make it feel festive, keep it at that! It’s easy to be tempted to buy new items, so avoid the stores or sections of stores that may tempt you to purchase items you do not need. If you are in a situation where you have nothing festive, stop by the dollar tree or thrift store to grab a few items without spending too much.
#5 Utilize perks & rewards from your Credit Union or Bank
At East Idaho Credit Union, we have some cool ways to save throughout the year:
Pickle Jar Savings
Our free Pickle Jar Savings Account attaches directly to your debit card and rounds up each transaction to the nearest dollar. Use the funds that you build from your Pickle Jar Savings Account throughout the year for your extra holiday expenses.
Earn points every single time that you perform a transaction using your Frontier Visa® Card. Use the rewards from your debit/credit card purchases to have cash deposited directly into your account.
Tired of clipping coupons? Turn your purchases from select vendors into cash with Purchase Rewards using your Frontier debit card. Now available on the mobile app so savings go wherever you go.
About East Idaho Credit Union
East Idaho Credit Union was founded in 1935 in Idaho Falls and has over $400 million in total assets, 44,678 members, and 10 branches throughout the region. Employees, the family of employees, employers, students, or retirees who reside in, work in, are headquartered in or are paid from any of our field of membership counties are eligible for membership.
Connect with us to see how we are building better lives at EastIdahoCU.org.
Frontier Credit Union, P.O. Box 1865, Idaho Falls, ID 83401, 1-800-727-9961. Unauthorized account access or use is not permitted and may constitute a crime punishable by law. Membership required—based on eligibility.