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October 28, 2016

How to Spend Less & Enjoy the Christmas Season MORE!

While the holidays can be a financially stressful time, planning now will save you money and reduce budget woes you may have during this time of year. Here are a few tips from NobleBank to help you spend less and enjoy the Christmas season more!

It is important to take the time to carefully plan and purchase your Christmas gifts so that you do not overspend and acquire a huge credit card bill. Getting started this month on your Christmas shopping will help to reduce the amount you spend, because you can take the time to find the best prices. If you use cash to purchase gifts, it will make it easier to stay on budget.
During the hustle and bustle of the holidays it is easy to lose track of what gifts have been purchased and for whom. So that you do not buy more than one gift, store them in one central location, so they are easy to locate.
Entertaining can get quite expensive! Creating an overall holiday budget will help you stay on track. Most people only budget for gifts and leave out the other expenses such as holiday food, Christmas cards, Christmas travel and decoration expenses.
Take time this holiday season to give to someone who truly needs it. This gift may be the one that makes the biggest difference in your shopping experience. There are many local charities throughout Alabama that truly need our support. Your family may decide to organize a toy drive for a specific non-profit or spend the day volunteering with a local organization.
People who are struggling financially, may be relieved to rework the normal gift exchange. Instead of giving gifts to everyone, you can draw names or give family gifts instead of individual gifts.
Look at your other obligations in regards to the holidays and determine which ones you can cut back on. You may choose to celebrate the season at home and visit family during a different time of year, or cancel a winter vacation. If things are tight, you can prioritize which aspects of the holiday celebrations are most important to you and limit the other ones to make it happen.

The holiday season is demanding because of additional time commitments as well as financial strain. Planning for the holidays now with a clear budget in mind can reduce your anxiety and encourage everyone to stay focused on the true meaning of Christmas. Member FDIC and Equal Housing Lender.

-Paul Z. Rogers

Senior EVP & Market President