BY NICK SCHNEIDER
First State Bank of Forrest
The holiday season is upon us. Unless your name is E.Scrooge, you may have a person or two on your list. From the early season snow to the holiday décor in so many stores to the ringing of the Salvation Army bell outside stores, it is that time of the year when we gather together and share gifts with each other. But the joys of December can sometimes lead to some financial pain in January when bills come due. In order to have one less New Year’s Resolution to keep for 2020, try and end 2019 on a good financial note.
Here are 12 tips to try and help (plus one)-
1–Budget.
Almost every list for saving tips will have something similar but it is a needed thing. It’s not a fun thing to do, we would all like an endless supply of money to take care of our needs and wants but it is something that each one of us needs to do. You need to sit down and budget what is the money you have after your regular monthly bills that you can use on gifts.
2-Stick to #1.
It can be easier said than done. When you are out shopping, quick math skills sometimes can evade us. A good way to stick to your budget is to buy a prepaid card with your budgeted dollars on it, once the balance is at zero, then your shopping is done for the year.
3-Listen to Santa
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Those of us that are nice like the big guy, those that are naughty…maybe not so much. Santa is a pretty forgiving guy but when’s checking his list, he checks it twice. And that’s what we could do, make our list items and people to buy for and stick to it. This also allows you to research different prices at different places and avoid the last-minute rushes.
4-Sale doesn’t always mean “Sale”.
Everything is always “on sale”. Sometimes they are discounted from the original price which helps stretch our budgets (having a little leftover isn’t a bad thing). But do not just look at the work “sale” and assume it is the best and lowest price. Research your items to see what others offer similar items for.
5-Coupons, coupons, coupons.
Store and manufacturer coupons have never been easier to find. From couponcabin.com to bradsdeals.com, there are many websites that help in the search for these. Some like Rakuten may even offer some dollars back to you on different sites while bradsdeals.com allows you to ask for emails to be sent when low priced items are found. Check manufacturers sites too for additional chances at savings.
6-Layaway.
This is still available at many stores. Wal-Mart has no charges on theirs, check the fees to make sure that the layaway is a good option. If you have a weekly budget to spend on items, this allows you to pay some each week towards your final purchase in the holiday season.
7-Use ship to store to avoid shipping fees
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If you find a great deal online, many places allow it to be shipped to the local store for pickup. You are supporting the store as well as saving the shipping cost.
8-Regift.
Did you get that latest and greatest appliance from Aunt Suzie last year? Is it still in the box since you have no room on your counter and haven’t used yet but would be a perfect gift for someone else? Think about doing this, just maybe don’t give back to Aunt Suzie or give to someone she’s around. 😊
9-Be Creative.
Some of the best gifts people get are those homemade gifts that people do. Think about an Art Party or craft show that you can go to and create your own gift. Sentimental gifts can also hold great meaning for people as well.
10-Avoid Credit Card Use.
If you have a balance on your credit card, the average rate is 17.21% according to creditcards.com. That is a balance that will add greatly to the cost of your gift if you don’t pay it off each month. Try and use cash or debit cards or checks if possible.
11-Take Advantage of Rewards Programs.
Many stores offer loyalty rewards or “points” towards savings or cash in the future. Sometimes they do also offer an upfront discount as well. Be careful though on these for any hidden or annual fees.
12-Start saving for 2020 ASAP
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What’s done is done. You are at where you are at for 2019 but think about setting up a Christmas Club account for next year. Christmas falls on December 25th every year so it is never too early start planning. We at the First State Bank of Forrest offer this as do most local banks. This allows you to set aside a set dollar amount each week or month to add up to a check in Octoberish, 2020 to give you a budget for your 2020 season. You do earn some interest on this but it’s the amount you set aside each time that will be your best help next year.
Plus One.
We encourage you to shop local. There are many great stores in our local communities that support not only our local tax dollars but also employ our friends and neighbors. But there are some things that we might need to buy through Amazon. If you do, please think about using smile.amazon.com and picking a local or national charity of your choice for a portion of the proceeds to go to.
Have a great holiday season! Enjoy the time you have with friends or family or whatever gives you joy at this time of year. We hope a couple of these tips will help make it a financially enjoyable one as well.
