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Getting Back on Budget This Holiday Season

online shoppingThe holiday season is rapidly approaching, which means plenty of expenses are heading your way! If your finances have been falling short over the past few months, it’s time to refocus your priorities and restructure your finances! Here are a few tips to help you get back on budget.

  • Budget – Create a strict budget and stick to it! Figure out how much you can reasonably spend and budget accordingly. Holiday spending can put a serious strain on your wallet, so be sure to examine how much you can expect to spend, after paying for essentials.
  • Hidden Expenses – As mentioned above, budgeting is key, and you must be able to save a little extra for those unexpected expenses that might creep up during the holidays. Anything from wrapping paper, mailing costs, holiday travel, or even an electric bill that was higher because of all the lights!
  • Research – During the holiday season prices fluctuate more so than usual, so take a little extra time to price shop. Compare prices in-store and online to ensure you get the best deal!
  • Gift Exchange – You probably aren’t the only one on a budget this year. To save money, suggest a fun gift exchange with family or friends.
  • DIY Gift – Nothing says personal like making your own gift. If you are crafty, why not knit someone a scarf or hat?! Write them a personal letter to let them know how much you care. Pinterest has endless amounts of DIY gifts that are perfect for the holiday season.

Remember the holiday season does not have to drain your bank account! Just be sure to budget accordingly and plan ahead to ensure a financially responsible, fun holiday.

Want to talk about managing your budget? Two Rivers Bank & Trust offers several options to help. Contact your local neighborhood branch today to discuss a budget option that works best for you!