EPEFCU

Christmas on a Budget

The holidays can be hard on our wallets as we scramble to buy loved ones everything their little heart’s desire. We put together a list of ideas that are sure to make holiday shopping easier on your budget.

This year, suggest a Secret Santa type Christmas. Place your family’s names in a hat and have everyone choose a name. Set a price limit, and instead on trying to buy your entire family a gift, you’ll only need to worry about one. Everyone will still receive a gift and you’ll have eased the financial burden not only for yourself but for your entire family. 

Do something for someone else. Embrace the spirit of Christmas by giving the gift of charity. Find out what organizations are close to your families heart and give a donation in their name. Many organizations will let you choose whether or not you’d like to display the amount of money you’ve donated.

Set a budget. As a society we have become so consumed with the commercialization of Christmas that all of the gifts we buy for our loved ones rarely reflect the way we feel about them. Sure they may be great gifts, a leather handbag, a sparkly piece of jewelry, but oftentimes we may be tempted to purchase whatever it is the salesperson recommends. By limiting the amount of money you have to spend on a person you’ll be forced to really consider what it is you’re buying, making your gifts more thoughtful than ever before. 

Plan ahead. By setting aside money for Christmas early, you won’t worry about scrambling to find the money once the shopping season comes around. Head out to your local credit union and open up a Christmas Club account. At EPEFCU, $5 is all it takes to open up the account. You can open your Christmas Club Account between November 1st and January 31st and earn a high interest rate on your savings.

How do you keep your budget under wraps during the holiday season? Share your ideas with us, we’d love to hear them!

 

MEMBER NCUA

Smart Tips for Your Holiday Travel

If your planning on traveling this holiday season chances are you won’t be alone. The Transportation Security Administration reports that the holiday travel season is the busiest travel time of the year. Not surprising, the cost of traveling during this time of year increases dramatically and deals are limited.

According to Travelocity, the cost of the average domestic flights between Dec. 16 and Jan. 1 is already 5% higher than last year, while international airfares are up 6%. Over New Year's Eve weekend, domestic airfares are up 6% and international airfares have jumped 12% from 2010.

While deals may be scarce, that doesn’t mean you still can’t find one. So if you’re making plans to be out of town in time for the holidays, it’s important to begin preparing for your trip now as prices are likely to climb as we approach the Christmas holiday.

One way to secure cheaper tickets is to consider flying to smaller airports outside of the larger cities.

Traveling with gifts? Lighten your load while saving money by mailing Christmas gifts directly to their recipients and avoid those annoying baggage fees. Many sites offer free shipping during the month of December. Remember to check for coupon codes before completing your purchase.

If possible, avoid the busiest travel days and opt for traveling on the actual holiday. According to CNN, Friday December 23 is one of the busiest days to fly, as well as one of the most expensive days to fly. Consider instead flying on the Wednesday before or even on December 25^th. Traveling by car? Reduce the stress of busy roads by avoiding the busiest travel days.

Be prepared. If you’ll be flying this holiday, you may very well encounter a delay or two along the way and being prepared will help reduce your stress and save you money. Load your mobile device with movies, games and e-Books and don’t forget to pack your battery charger as well as enough snacks to hold you over. Your money will go much further in a local grocery store than it will in any airport.