AFCU & You Blog

If you love giving gifts to your family and friends, it can be hard to not overspend during the holiday season. Even those who are good about staying on budget all year end up splurging a little too much when it comes to gift giving. But sticking to your holiday budget doesn’t have to be hard. It’s all about planning ahead. Here are five quick tips for sticking to your holiday shopping budget this year.

Tip 1: Make a List for Everything

Lists are an important part of keeping your finances organized any time of year, but especially during the holidays. Make separate lists for holiday food, decorations, and gift costs. Keeping a list of all your potential expenses will help you to prioritize your holiday expenses. Purchase the items high on your list, then check them off, and see how much money you have left to spend on the remaining items.

Tip 2: Only Spend Cash

If you tend to purchase your gifts in a store rather than online, try using only cash to do your holiday shopping. It is much easier to overspend when you’re using a credit card. Using cash to make your holiday purchases helps you to clearly see exactly how much you’ve spent and how much is left in your budget.

Tip 3: Take Time to Find Deals

Start comparison shopping before the holidays even start. If you don’t know how much a product normally costs, how will you know if you’re getting a good deal on for Black Friday? It’s important to take time to find deals. Don’t be afraid to return an item to the store if a better discount for the same item comes along.

Tip 4: Cut Back Your Giving

Although the holidays are the time for giving, you shouldn’t put yourself in financial hardship over them. Keep your gift-giving list short. If your budget is tight, you may have to skip the office gift exchange or skip mailing greeting cards. It may not be what you want to do but come January your finances will thank you.

Tip 5: Set Expectations Ahead of Time

If you tell your family and friends about your holiday budget, they will likely understand; they are probably all on a budget too. Working together you may even be able to save each other money by going in on gifts together or by agreeing to not purchase each other gifts.

This article origianlly appeared on resourcecenter.cuna.org

Our thoughts go out to everyone impacted by the Woolsey and Camp Fires in California. Aerospace Federal Credit Union is here to help you manage through the financial challenges you may be facing during this crisis. Since circumstances are unique for each member and your need for financial assistance, we request you arrange a time to discuss your situation with us one-on-one to determine how we can best provide you with assistance. Please call Jeri Smith at 310-336-0635 or email emergency@aerofcu.org to arrange a convenient time to chat. The following financial assistance options are available:

Loan Workouts

• Understanding that a natural disaster can strain your budget, we are prepared to work with you to make your loan payments affordable.

Emergency Loans

• This loan provides an affordable way to fill an income gap during this natural disaster.

Waiver of Early Withdrawal Penalty

• All early withdrawal penalties are waived if your situation requires that you take funds from a share certificate before maturity. 

Direct Deposit Advance

• Based on your established relationship with AFCU, you have the option to advance against a future direct deposit at no cost.

Everyone here at the AFCU is ready to help you make it through these challenging times. Be safe and call on us if you need financial assistance. We're here to help.

AFCU was open on Saturday, November 10. Members were able to come in on a weekend and bring in family members to open accounts, apply for loans or have questions answered by AFCU staff. Each member who completed a transaction that day got a chance in the "Whirlwind of Cash" money booth and was entered into a drawing for a chance to win a new UHDTV! Congratulations to Erica D. on winning the 50” Samsung UHDTV!