With Thanksgiving around the corner and holiday shopping soon to follow, you should start thinking about getting your finances in shape for the holidays. Iowa State Bank has expert tips for you to gear up for the holidays. In 2013, Americans spent around $800 each on holiday shopping, celebrations, and parties. Is your bank account equipped to spend that much money right now?
If you are worried about how you will afford the holidays, have no fear, Iowa State Bank is here to advise you on the best practices to start saving now.
Get your finances in shape for the holiday season:
- Stick to a strict budget the month before. You may be low on cash while you save, but only spend what you need throughout the month of November. You will be relieved once December comes around because you will have enough money for all of your shopping.
- Don’t go overboard. The holidays are not supposed to be centered on the gifts. There’s nothing wrong with getting gifts, but there is no need to spoil each person in the family. Focus on having time together and enjoying the memories.
- Start your shopping early. Starting now, you can buy gift items little by little until your list is complete. This method is good because sometimes you can find what you are looking for during November when items are not marked up yet.
- Start a savings plan. Save a set amount from your income every week in November. By the end of the month, you can have enough money to get all of your shopping done in time for the holidays.
Holiday shopping can be stress free if you plan ahead and keep your budget in mind. It is a busy time of year, but the holiday spirit keeps everyone feeling jolly! Contact Iowa State Bank if you have any questions about savings accounts or debit cards.