Let’s Reduce Stress!!
The holiday season is quickly approaching, and with it comes the potential for significant financial stress. Fortunately, Monée Cheney, a Family Houston Senior Financial Coach, has some great advice on preparing for and enjoying the holidays without straining your finances.
Create a Holiday Budget
Having a budget helps you control how much you spend on gifts, holiday events, decorations, etc. Set a budget for each person you plan to purchase a gift for, and stick to your budget. Avoid the temptation to overspend.
If you are really feeling strapped and have found the perfect gift for that special someone, most online retailers have a quad pay or “pay in 4” plan to divide your purchase into 4 payments. This is a good option if you don’t have enough money up front and can afford a consistent monthly payment. Don’t go overboard though. Make sure the payments fit into your monthly budget; you can incur fees if you miss a payment or pay late.
Shop Wisely
Sign up for email subscriptions for your favorite stores to receive coupons and know about sales. Keep an eye out for seasonal sales throughout the year for gifts at lower prices. Research prices on popular items and check with stores on their price match policy.
Purchase Gift Cards
Gift cards help you stick to a budget and are the perfect gift for picky family and friends. Be aware that credit card gift cards (Visa, Mastercard, American Express) charge you an extra service fee when you purchase.
Give Your Time
If you can’t afford to purchase a lot of gifts, consider giving your time to a non-profit organization and invite family and friends to join you. Not sure how to get started? Check out the list of organizations Family Houston works with that provide a variety of services.
Plan Ahead
It’s never too early to start saving for the holidays! Start saving a year in advance. Check out the 52-Week Money Challenge for a great way to create a savings plan for the year.
Family Houston provides Financial Coaching throughout the year at our Houston, Fort Bend, Bay Area, and Waller County locations. We can help you discover how to make your hard-earned money go further.