Monthly Archives: November 2020

Money Mistakes to Avoid Around the Holidays

The holidays are right around the corner which means it’s time to start crossing items off the gift list. Whether you’ve fallen victim to these mistakes before or are trying to avoid them this year, this list will tell you exactly what not to do when holiday shopping.

Not saving in advance

The holiday season has a way of sneaking up on people, leading to lots of last minute shopping. We all are aware of when these gifts need to be bought, so why not set money aside to prepare? You can start this a few months in advance, or even better yet, save small amounts all year. Simply add a portion of your income to a savings account each month or set up automatic transfer so the funds are ready to go when it’s time to shop.

Being enticed by all of the deals

It’s no question that items on sale are automatically more appealing, even if the item is unnecessary. Making a list and knowing exactly what you need before you visit the store can help avoid the tempting discounted items. This is also tricky while online shopping since holiday ads pop up just about everywhere. Steer clear of the enticing deals and stick to what you really need.

Avoiding a budget

Having and sticking to a budget is simple with today’s technology. By downloading a budgeting app, you can figure out exactly how much you want to spend and keep track of your spending while you shop. Not setting a budget before holiday shopping often leads to overspending, buying unnecessary items and letting your finances get out of hand.

Dipping into your savings account

Whatever you do, do not rely on your emergency fund or any other type of savings besides what you’ve saved specifically for holiday shopping. This is another reason why saving separately for Christmas gifts is so beneficial – you won’t be as tempted to access your savings for the future if you already have money set aside.

Procrastinating

By the time the holidays come around, items have been picked through, the sales are over and what you need is out of stock. Getting your shopping done early will help you avoid those issues and save money while you’re at it. It may sound crazy, but the best deals are usually happening between Christmas and New Year’s, which means you can get a head start on next year while maximizing your savings!

This is the year to have control over your finances and not let the holidays take a toll on your bank account. Rather than dreading the financial burden that often comes with holiday shopping, plan ahead and save yourself the stress. Enjoy this holiday season and avoid making these mistakes at all costs!

Stay Safe Online While Holiday Shopping

‘Tis the season for spending time with family, making hot chocolate, building snowmen and, of course, buying presents! With the wonderful power of technology, we can surround the Christmas tree with gifts in just a few clicks. Keep reading to learn all about cyber safety while you shop this holiday season.

Watch out for enticing ads.

It’s common to come across pop-up ads or tempting deals while you’re browsing. While they’re sometimes legitimate, it’s smarter to go to the website itself rather than clicking on the advertisement to avoid scams or viruses.

Beware of public Wi-Fi.

There’s nothing wrong with checking out your favorite store’s catalog while out in public, but making purchases is where it gets risky. Never enter your personal information to make a purchase while connected to a public Wi-Fi network – instead, use a VPN or your personal hotspot.

Keep your device updated.

If you haven’t already enabled auto-update on your device, now’s a great time to do so. Keeping your device and applications up to date will help you avoid malware infections or other cyber issues.

Look for the “https.”

Check for the lock symbol or the “https” in the address bar to make sure the website is secure. Secure websites make it safe for you to enter your information without the fear of the site storing it without your approval.

Check in on your account post-purchase.

Keep tabs on your account activity to make sure the transaction went through and there weren’t any mistakes. You can also set up alerts that automatically email or text you once your credit card was used.

Always do your research.

It’s a risky game to make a purchase from a site you’ve never heard of. Research the company you’re thinking of buying from and make sure they have a form of contact for you to use if a payment problem occurs. The smartest choice is to always avoid making online purchases from an unfamiliar website.

Online shopping is a great way to get what you need without facing the cold, but there are always risks that come with making purchases on the Internet. Be smart, do your research and have a happy holiday season!

Special, Yet Inexpensive Christmas Gift Ideas

As joyful and exciting as the holiday season is, getting memorable gifts for your loved ones can bring about some financial stress. It’s always good to remind yourself that the price doesn’t always determine the quality of the gift you give. Rather than spending a fortune on big gifts, try one of these special gifts which are cheap and meaningful at the same time.

Memory Book

Whether you decide to make a homemade scrap book or simply buy a photo album at the store, you can’t go wrong with a trip down memory lane. The holidays are the perfect time to reminisce on the past, and creating a book of old pictures, letters, collectables and other meaningful things will definitely warm the heart of any loved one.

Meaningful CD or Playlist

One great way to tell someone how much they mean to you is by telling them through music. Put music that reminds you of them or memorable songs you’ve listened to together on a CD or into a playlist. For an additional, heart-felt touch, you can write a letter to go with the CD explaining the meaning behind each song you chose.

Flowers and Plants

Giving your loved one flowers is a clear way to make them feel special and cherished. Purchase a few succulents, flowers or other plants along with a cute pot and some soil, pot the plants and you have yourself a special present that doesn’t break the bank!

Pamper Package

A fun gift idea for both the gift giver and the receiver is a care package filled with all of their favorite things. This can contain snacks, drinks, a movie, a book and other meaningful self-care items.

Nothing compares to gifts that are hand-made, meaningful and full of love. This holiday season, focus on giving memorable gifts that will leave your loved ones feeling special and will also keep your bank account in a good place. Happy holidays and happy gift-giving!