FDIC-Insured – Backed by the full faith and credit of the U.S. GovernmentGive Yourself the Gift of Financial Wellness This Holiday Season
| Posted in Bank Blogs
As you make your holiday list, be sure to include a special gift for yourself – the gift of financial wellness. It’s about giving yourself peace of mind by knowing you’re meeting your everyday financial obligations and working toward a secure future.
So how do you give yourself this precious gift this holiday season?
You can start by following these healthy habits:
- Create a budget. Budgeting is one of the biggest keys to achieving financial wellness. You should create a monthly budget for the year and for your holiday spending. Start by making out your holiday list. Then, determine what you can afford to spend on gifts, decorations, and entertainment and track your spending to ensure you don’t exceed your budget.
- Avoid running up debt. With all those “doorbusters” and online holiday sales, it’s easy to make impulse buys and spend money you don’t have. That’s why if you’re shopping with a credit card, don’t buy anything you can’t afford to pay for with cash. Also, pay off your credit card balances each month. The last thing you need is to carry high-interest credit card debt that will weigh you down long after the holidays.
- Keep saving. Even though you may be spending a little more during the holidays, it’s still important to put aside money for your short- and long-term saving needs. To make saving easier, arrange to have a portion of your pay direct deposited into your savings account or set up automatic transfers from your checking to savings each pay period. You’ll be surprised how quickly the money can add up.
- Comparison shop. Shop around for the best deals on gifts. To save even more, consider making gifts or doing gift swaps to limit the number of gifts you need to buy.
- Maximize rewards. If you do shop with your credit card, make sure you’re capitalizing on the rewards offered like cash back or other perks that can help you save money.
Give yourself a joyous and financially healthy holiday season by making financial wellness a priority. It’s a gift that can last a lifetime.