Steps to a Budget-Friendly Holiday Season

Shopping for the holidays can be a stressful experience, but it doesn’t have to be. Planning ahead can help make sure that you don’t overextend yourself when shopping for loved ones. Check out these steps for a holiday season that won’t break the bank.

1.       Make a list. Write down the names of everyone you wish to buy a gift for this holiday season and the items you would like to purchase or the amounts you would like to spend on each one.

2.       Set a budget and stick to it. Decide how much you can afford to spend on gifts for your loved ones this season, and make a pledge to not go over that amount.

3.       Research. Start checking prices on the items you listed in Step 1. Go window shopping at stores and check prices online. Add them all up and compare this amount to the amount you budgeted for in Step 2. If it exceeds the total you want to spend, it’s decision time. Go back to Step 1 and either cut some items off your list or choose less expensive gifts for certain people.

4.       Give your time and talents. Gifts don’t always have to be something you buy from a store. Think of ways to offer your time and talents to loved ones to provide a more personalized gift. 

5.       Start saving for next year. The best way to ease expenses on holiday shopping is to save all year long. By designating just $50 per month into a savings account, you will have $600 saved for holiday expenses by the time the next season comes around.

These tips are provided by the Iowa Bankers Association. Stop in anytime throughout the year and we would be happy to set up a Christmas Club savings account for you!

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