6 Ways To Keep Your Finances Intact This Holiday Season

You don’t have to rack up a huge credit card bill or go into debt to cover your holiday expenses. Enjoy a financially stress-free season with these six tips:
1. Create a detailed list of all your expenses
Draw up a list of every holiday expense you anticipate. Include all gifts, décor, travel expenses and donations. Try to keep it as trim as possible by cutting out non-essentials and using stuff you may have in storage from previous years.
2. Determine how much money you can spend
Work on finding a magic number that will cover everything on your list and that you can realistically afford. Ideally, this money should come from funds you’ve set aside just for this purpose. Spread the cost of the holidays across the year with our Holiday Savings Account created just for that purpose. You’ll set aside a little bit of money each month, and next year, when the holiday season rolls around, you’ll have all the funds you need.
3. Divide and conquer
Next, assign specific amounts of money in your budget for each expense category and for every person on your gift list. Again, make sure your numbers work from both a financial and practical perspective.
4. Track as you shop
As you shop, keep a careful eye on exactly how much money you’ve spent for each person and in each expense category. Review your budget often to make sure you’re staying on track.
To make this job easier, use an app, like Santa’s Bag. It allows you to set a budget for each person on your list and then makes tracking the amount you spend super simple.
5. Shop smartly
Keep your spending to a minimum with these hacks:
- Use shopping apps, like the Coupons App and Shopular, to get your favorite retailers’ best deals and coupons delivered right to your phone.
- Shop online on Tuesday morning. Research shows this time of week is when you’ll find the hottest online deals.
- Shop with a friend. Take advantage of BOGO sales by splitting the cost of a single item with a friend and each of you taking one item home.
- Shop late. Prices actually fall in the weeks leading up to Christmas as retailers get ready to clear out their holiday inventory.
6. Let Texas DPS Credit Union help
Let Texas DPS Credit Union take the financial stress out of the holiday season:
- Skip-a-Payment. We get it. The holidays are crazy expensive. That’s why we allow qualifying members to skip one payment on a loan this time of year without hurting your credit or defaulting on your loan.
- Personal Loan. If you can’t find the funds you need for the holidays, consider taking out a Texas DPS Credit Union Personal Loan.
With a bit of planning and these simple tips, you can enjoy the holiday season without the financial stress. At Texas DPS Credit Union, we’re here to help make the season even brighter with solutions designed to keep your finances on track. Reach out to us today and see how we can make this holiday season a little easier. Happy holidays!