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November 16, 2018 Banking Borrowing Budgets Savings Tips Joshua Williams

5 Fridays Until Christmas

That time is upon us once again – 5 Fridays until Christmas. If you haven’t begun planning, now is the time. Let’s take a look at some tips on how to plan, put some money aside, and save a few bucks. And if you don’t celebrate the holiday, that’s totally fine, you don’t have to celebrate to save.

Make a Gift Budget.

Make a list of everyone you need to buy a gift for or even think you might possibly maybe need to show your undying appreciation. Make sure to put your amount limits for any parties on your list as a reminder that you don’t have to buy an iPhone for someone you work with. For example:

  • Yankee Swap: $20
  • Secret Santa: $20
  • That annoying friend who always gets you something amazing so you feel like you have to also get them something amazing: $20

Put Money Aside into Your Savings Account (or Your Change Jar!).

You can do this all year round. No need to wait until the holidays to start saving. Here’s how:

  • Save spare change. Grab a mason jar and put it next to your bed. Empty your pockets every night before bed. Coin machines exist for a reason, so you don’t have to roll your coins.
  • Update Your Direct Deposit. Change your direct deposit to have a set amount put into your savings each pay period. If you don’t see it in your checking, you can’t spend it.
  • Debit round up. Automatically round up each purchase with your debit card to the nearest dollar and send the difference for each purchase into your savings. Now that’s efficiency.

How Much Do You Trust Prime?

Don’t wait. Please, please, please don’t wait. When you have the money saved, buy the gift(s) when there is a sale. Scratch that name off of your list. Don’t wait until the last minute and hope that free overnight shipping will get it to you in time.

So You Waited…Here’s How to Get Money to Pay for Your Gifts.

Now you have to get everything all at once and don’t have enough funds. Here are some options to still get what you need done:

  • Credit cards are always an option. Just make sure you are getting a good rate.
  • Get paid early. With a checking account at Workers you can get paid up to a day early. This can make a difference when getting that last minute shopping in.
  • Personal Loan. Most will have a fixed rate lower than a credit card, and reasonable time frame to pay it back. You could have the money in your Workers checking account by the time you leave the branch. A great way to get the money you need in a pinch.

What It’s All About.

All in all, there is no perfect solution to holiday shopping. Sometimes you pay more because it’s the perfect gift and sometimes you strike an amazing deal. We all speak our own language of appreciation. Remember that. So don’t fret if you miss out on the last item in the store, you’ll find something else. And if you just can’t swing it this year, showing up or calling to let someone know you were thinking of them can be just as special.

Happy Holidays!