Staying on Budget During the Holidays can be difficult but Cyprus Credit Union has ways to help you!
DECIDE SPENDING LIMIT
Before you begin shopping, set a limit for your holiday expenses. This includes gifts, decorations, food, donations, and any other expenditures. Using this as a guide, create your shopping list as well as from where you will be purchasing your items. Do some cost comparison shopping to make sure you are getting the best deal.
TRACK SHOPPING
Once you begin shopping, track everything from when you purchased the item, where you purchased it, and how much it cost. If the item is a gift and you need to stash it away until the holiday rolls around, make a note of where the item is hidden so you’re not scrambling the night before.
HAVE A PLAN
Overspending is more likely to happen the closer we get to the holiday. Having a plan of place, including deadlines of when certain items need to be ordered by in order to arrive on time, can help save you time, money, and stress.
TAKE ADVANTAGE OF REWARDS
If you are using a credit card, use the option that will get you the most in return, such as a cashback card. Make sure you have a plan in place to pay these off as quickly as place as these cards usually feature a higher interest rate for carrying a balance with compared to basic cards.
You can get more financial tips at cypruscu.com.
