It’s the time of year when budgets get busted if you don’t pay close attention to your spending. With gifts, parties, and festive meals, it can be challenging to remember that you don’t have to go into debt to enjoy this time of year. Here are some tips to help you stay on track during the holiday season.
The Value of a Gift is Not Found in the Price
When you think that the more you spend on gifts, the more your loved ones will appreciate them, think back to those gifts you received from your friends and family. Which were the most special? The expensive ones? Or was it the gifts that felt more personal, regardless of price? Think about what they’ll truly appreciate, not what costs the most. A small, thoughtful gift is worth more than an expensive gift that someone may never use. Before you buy, take a moment to think about what those on your list could use.
Only Spend What You Have
Try to avoid using credit cards during the holidays. Only spend what can safely come out of your bank account. Give your budget more focus and avoid temptations to go beyond your purchasing limit. Your holiday budget will be higher than in other months of the year, but try to make up the difference by sacrificing other non-essentials. By keeping your spending off your credit cards, you’ll go into 2021 financially stronger.
At First Nebraska Bank, we’re here to help you make the most of the holiday season without overextending your finances. Please take advantage of our FREE budgeting tool to plan for upcoming holiday expenses.
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