A Gift to Yourself - Savings During the Holidays
December 10, 2021
Time to play Scrooge
You try to budget and save all year long. But for some reason, when the holidays roll around, you lose that Scrooge spirit and the spending begins. Well this year, why not try your best to stay on budget even when shopping for your best friend, nephew, or pet?
It’s all about the Timing
One of the best things you can do to avoid overspending during the shopping season is avoid last minute gift buying. Allow time to be on your side. This year, you have no doubt seen news reports telling you there will be a shortage of products on store shelves due to major supply chain issues. Also, many of us are just plain out of practice when it comes to smart shopping. With the pandemic last year, we just avoided the stores all together. Now is the time to get back in shape and shop sensibly.
Try something different
Instead of buying more stuff this holiday, why not make a donation in someone’s name to a local non-profit? How great would it be to send money for a cause that is close to someone’s heart? The recipient of the gift will feel good that a gift was given in their honor to a charity they love. You will feel good that you did a good thing. And, an added bonus it that the donation amount remains a secret. So, you can give a gift and stay in budget. This way everyone wins.
Stay Accountable
A simple way to stay accountable to your budget is to use your TVFCU debit card for purchases. You can check your balance numerous times a day to be sure that you are not overspending.
What about spending on me?
Finally, why not give yourself a gift by deciding to save a portion of your paycheck each month. The amount does not matter. Just start somewhere! The easiest way to do this is to take advantage of payroll deduction if offered by your place of employment. I have found it is easier to save money when you don’t see it to begin with.
P.S.
One more idea. Try writing a heartfelt holiday letter to that special person that you want to give a gift to. Let them know how much they truly mean to you. It is much cheaper than a gift and that person will most likely save the card forever. Plus there is no gift wrapping and a stamp is only $0.58.
Brush up on some personal financial education through our training seminar with TVFCU's personal financial educator, Nina Coppinger, https://www.tvfcu.com/benefits-education/financial-education-videos/personalfinancetraining.html