Category Archives: Holiday and Seasonal Finances

How to Keep Halloween from Scaring Your Budget

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The average American spends around $86 on Halloween – between candy, decorations, costumes, and the like. And that’s only the national average, so many of us tend to spend quite a bit more.

If you’re on a strict budget this year, that amount might give you a scare. However, you can keep from frightening your budget this year. Try these tricks to help you stick to a painless Halloween budget.

Costumes

One of the main parts of Halloween fun are the costumes. However, dressing up can get costly – especially if you have several members of your family dressing up this year. Instead of buying a $40+ costume at the store or attempting to sew one together, turn looking for children’s costumes into a family game.

Head to your local consignment shop or thrift store and give each child an envelope with no more than $10 inside. Split up into teams to pick out a costume or find items that can be put together to create one. Don’t forget to also look in your closets at home to see if there’s anything you already have that can be used for dressing up.

Also check with your family, friends and neighbors to see if they have any costumes or items they aren’t using that you can borrow. Don’t spend a fortune on something that will most likely only be worn for a few hours.

Decorations

Some people really love to go all out for Halloween. However, if you keep blowing your budget on expensive Halloween decorations each year – you may be paying off your debt well into Halloween next year. If you need to stretch your budget, stop by your local dollar store for decorations. You’ll be surprised at the great items you’ll find!

Also save and reuse your decorations year after year. Store all your ghouls and goblins in a reusable bin once the season is over. Then pull them out next Fall without having to spend a dime!

Candy

Do you live in a neighborhood or on a street where it seems like the amount of trick or treaters are endless? Candy can be pricy too. If you know you’re typically visited by what seems like hundreds of kids in costume, don’t buy gourmet chocolate bars. Pick up a large bag of assorted candy in bulk instead. Do an online search for coupons and deals, too. Buy what you can afford, and when the candy is gone, it’s gone.

Try to keep track of how many trick-or-treaters visit your home so you can plan amounts better for next year. You probably also don’t want to overbuy and then be stuck with tons of candy sitting around either. The key here is to plan ahead!

Pumpkins

Pumpkins may only last a few weeks at most. And with that being said, they aren’t always cheap either. Once you start, it’s hard to stop with just buying one pumpkin too. From the porch to your patio, stairs and table – you might pick up 20 pumpkins when all is said and done.

Give yourself a strict pumpkin budget. Let your kids each pick only one or don’t spend more than $20 (or whatever number you decide is best for your budget).

While going to the pumpkin patch is a great Autumn past-time, don’t buy your pumpkins there if you’re looking to save money. Instead, buy pumpkins from the grocery store (they’re usually always cheaper and still look great!).

Greeting Cards

Is sending out a Halloween greeting card really necessary, even if it’s for your adorable niece or nephew or grandchild? Cards can be $5+ each nowadays, and that’s not cheap for something that may very well end up in the garbage can after it’s opened and read. If you really feel that you need to send a greeting card, try making your own instead. Use cardstock and get creative. Or hit the dollar store for cards – this is a best kept secret.

Fall Activities

Are there lots of farms with weekend harvest and Halloween events going on this month near you? The good news is, admission is typically free or not very expensive. Take advantage of this gorgeous time of year and all the farm budget-friendly activities such as corn mazes, pumpkin bowling, and the like. Take a hayride with the family or spend a few hours walking around the farm. You can also pile into the car and take a drive to look at the changing colors of the leaves, pick some apples, or pack up an outdoor picnic at your favorite local park. Look at your community calendar or website and scope out what’s going on near you.

Traditions

Plan a weekend for family or friend get-togethers this Fall. Save money by staying at home and trying a new tradition with your crew. Ideas include a Fall food cooking day (caramel apples, pumpkin pie, etc.), watch scary movies together, or do a backyard scavenger hunt.

It’s definitely possible to have an unforgettable Halloween without haunting your budget! With some planning and creativity, you’ll have a great holiday celebration without giving your bank account a fright. Happy Halloween!

Article Source: Dave Ramsey

How to Get a Great Valentine’s Gift on a Limited Budget

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Valentine’s Day is … tomorrow. If you are still trying to find a last minute unique gift idea for that special someone in your life and stay in line with the budget that you’re probably still paying off holiday bills from, keep reading! You can still give your Valentine a great day tomorrow without going broke.

The most important word you can remember about Valentine’s Day: Thoughtfulness. You truly don’t have to spend a ton of money on lavish gifts, experiences, or dinner at a fancy restaurant. Don’t underestimate the value of a nice home cooked meal, a homemade card, or an activity you both love doing together.

Go on an Outing this V-Day

Sometimes an experience creates more memories than a big gift or expensive flower delivery. Would you rather buy your true love a giant flower arrangement that more than likely won’t be around to see February 21st, or recall a fun day out together that you can look back on for years to come? Planning an actual activity also shows creativity and effort. Need some lower cost ideas?

  • Go geocaching – this is completely FREE. What is geocaching? This is a real life outdoor treasure hunting game using the GPS device on your smartphone. You will need to find and register locally, and then you’ll be given GPS coordinates to navigate to and find a geocache container that’s hidden at the designated location. Find out more here.
  • Try an escape room – averages about $30 a person. This is a lower cost, fun and adventurous activity to try with your loved one. You’ll need to work together and communicate, and it’ll be an exciting experience you won’t soon forget. Hit the web and find out where the nearest escape room is to you.
  • Wine and paint class – another lower cost activity that is BYOB, and typically under $40 a person. You’ll get to paint together, drink wine, and take home some beautiful artwork! To save even more money, try looking for deals online for a class local to you on Groupon.
  • Go axe throwing – cost also averages about $30 a person. See if there’s a local venue near you for throwing axes and/or darts. These locations are also typically BYOB which will save you some more money as well.
  • Actually see a movie in the theater – when was the last time you went to the movies? These days it seems like most people tend to take advantage of Netflix and other streaming at home movie services. This also is probably one of the cheaper outing options on this list, around $20 per person. Check your local theater and purchase tickets online in advance.

Ways to Save on Flowers

Being that Valentine’s Day is tomorrow – it’s probably going to be tougher to order online now, have them delivered on the actual holiday, and not pay a fortune. If you are in this boat and didn’t preorder, instead of purchasing a whole bouquet – don’t underestimate the gesture of buying just one single long stemmed rose, or try a less expensive flower bouquet instead (think red/pink carnations).

Are you against the idea of buying flowers altogether and spending a great deal of money on something that may not last longer than a few days? How about sending your Valentine a photo of virtual flowers. You can send them anything, they’ll last, and won’t cost you a dime!

But, if you’re still set on buying flowers – look online for deals, or try ordering through a cash back site like Rakuten.

How to Save on Valentine’s Dinner

At this point, it’s probably going to be next to impossible to get a dinner reservation. However, most of the time a home cooked meal is more private, less expensive, and better than dining out.

Do you have an InstantPot? This wonderful kitchen device allows you to cook a gourmet-like meal quickly. If you don’t – hit your local Target or Walmart and pick one up (they range in price with an average of around $50, but you can probably get one on sale or look for store coupons too). All you have to do is find a recipe, purchase your ingredients, close the lid, and push a button. You’ll impress your love and probably have leftovers for the next day also! You can even make dessert in your InstantPot such as cheesecake, the day before. Or if you want to opt for something easier to make the day of that’s still seasonal – try your own chocolate covered strawberries and open a bottle of wine or champagne.

If You Still Insist on Buying a Gift

If you’ve thought about it and you are set on purchasing a thoughtful Valentine’s Day gift but don’t want to spend a fortune, opt for one that includes a photo of the two of you. This is still sentimental, a nice memory, and won’t cost a lot. Simply print out your favorite picture together at your local Walgreens (which you can do almost immediately), put it in a nice frame, and if you have extra time – have it engraved.

Happy Valentine’s Day!

Article Source: Rick Broida for cnet.com

Ways to Get Through Winter on a Budget

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Winter can be expensive – between higher utility bills, paying for heavier clothing, indoor activities, transportation in regard to weather conditions, and more. Here are a few tips to help you save during the coldest months of the year.

Lower Your Heating Bill

You have probably heard this before, but it really does work: add an extra layer of clothing and lower your thermostat at home. You may not like wearing heavier clothes around the house at first, but when you get your heating bill in the mail – you will be very glad you did. Besides lowering your home thermostat, other ways to save on your electric or gas bill in winter include making sure you have properly insulated windows and doors. All of these items can really add up and become a huge waste of resources, and your money.

Pay Less for Winter Clothing

If you have children, take a look at their winter coats. Can they be handed down from one child to the next, or how about extended family – do you have anything you can pass on or maybe other family members have coats that can be passed onto your kids? Winter coats aren’t cheap, so if you can avoid having to buy new ones each winter before they get outgrown – family or friend hand me downs are a great idea.

If you do need to buy a new winter coat for your children, try to purchase it at the end of the winter season for next year. If you don’t get a chance to buy off-season, remind yourself to take advantage of winter sales at the end of the year on Black Friday and Cyber Monday. These tips work for adult winter clothing as well. Plus, don’t forget to check out apps like Poshmark and Mercari where you can often find new or gently used brand clothing items for a steal (and even sell your own clothing and shoes).

Save on Winter Sports

Does your family enjoy winter sports? Winter sports like skiing, snow tubing, and snowboarding can get very expensive when you take into account the cost of equipment, maintenance, and warm clothes and boots. Plus, if you don’t live near the mountains – the added cost of travel, hotel, access tickets, or equipment rental.

This is another area to buy winter sporting equipment and clothing off-season to save money. At the end of this winter season, look for items that can be used next winter and get them on sale. You can also look for deals on access tickets online or if you’re a frequent visitor, research and see if you can save by buying family passes for the entire season.

Winter Activities

Because it’s often too cold to be outside, winter indoor activities can really add up. When it’s warmer out, it’s easy to go to the local park and allow your kids to play outside (for free). If you find your family going to the movies each weekend (which isn’t cheap either) and then buying refreshments there, or going to an indoor theme park and again paying for what seems like endless amounts of food and beverages – think about doing some research and making a few changes to the winter family activity budget. Maybe some weekends you can instead rent a movie at home and purchase popcorn and snacks from the grocery store, have a family baking or cooking day at home, and look for coupons online if you do decide to hit that indoor theme park or the movies. It may take a little legwork and planning, but doing so can really help your bank account and still allow for plenty of family fun during winter months.

Article Source: Vered Deleeuw for Moneyning.com

3 Ways to Recover From a Blown Holiday Budget

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Now that the holiday season has come to a close, you are probably looking at your bank statements and credit card bills with wide eyes.

So, what can you do to get yourself back on track financially after the holidays? Here are three helpful tips to set your budget straight.

Sell, Sell, and Keep Selling

Declutter your house and see what you can sell. It’s one of the easiest ways to get rid of extra things you no longer use, plus make some cash after spending during the holiday season.

  1. First, find out which big items you can sell and then list those on sites like Craigslist, Facebook Marketplace, or various selling apps (Let go, etc.)
  2. Next, look through your closets for brand name clothing that can be sold on eBay, or apps like Poshmark and Mercari. This can really add up. As you go through your closet, snap pictures of the items you are planning to sell on your smartphone and upload them to the above mentioned apps. See how you do – if your items don’t sell in a few weeks, then put them aside to sell at your yearly yard sale in the warmer weather or make a local clothing bin donation.
  3. Lastly, request a bag from Thredup.com or Kindermint.com and pack them with clothes that your family doesn’t need. Most of the items that don’t sell in steps 1 and 2, will be hand-me-downs or 50-cent-finds, so after awhile if nothing is selling and you only get a couple dollars for your items – you are still coming out ahead.

Don’t Spend Money in January

Have you ever tried a month without spending money? The idea is that you cut unnecessary spending (eating out, home décor buys, clothes, and so on), and eat out of your pantry, fridge, and freezer for the entire month.

You are permitted to give yourself $20-40 a week to spend on milk, eggs, bread, and fruit/vegetables at the grocery store – but that’s it!

This is a great time to use up any food items that you may have around but forgot about. Plus, an extra $300 or more would be nice to put toward any credit card debt, or replenish your savings account – right?

Earn Additional Income

Does your job allow you to add overtime or do freelance work? If so, take advantage in January and February to help you pay down those holiday bills.

Be creative. Perhaps you can ask your employer for overtime opportunities, or take on a small baby/pet-sitting position. Even renting out your home or car, can produce extra income if you have the means to do so and live/commute another way.

Recovering from high spending like the holiday season can be tough, but with these steps you can overcome that blown budget relatively quickly and start off the new year on a better financial path.

Article Source:  Ashley Eneriz for Moneyning.com

Last Minute and Small Gifts that Can Make a Big Impact this Holiday Season

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The holiday season is arguably one of the best times of the year. However, who wants to spend the first half of the new year paying off gift purchases from the previous year? Big ticket items are often at the top of most people’s lists, but bigger doesn’t always mean better. You can give meaningful gifts without breaking the bank.

Here are some smaller gifts that will still make a big impact this year, or some ideas for those of you who are known to be last minute shoppers!

1. Gift Certificates

Gift cards may seem boring or even cliché, but they make a great gift – as long as you buy them with the recipient in mind. Don’t just grab any gift card just to get a gift card. Choose one your recipient will love, but would probably never buy for themselves. The dollar amount doesn’t need to be huge either, it just needs to be from somewhere your recipient will love or a place you know they go to frequently.

2. An Item that Represents a Happy Memory

Maybe it’s a memento from your first date or an early encounter with your significant other, which could be a photo of the two of you in a nice frame, or even a coupon for a home cooked meal of a favorite shared dish. The idea here is to recreate an already happy memory the two of you shared together and to be as thoughtful as possible.

3. Ornaments

One of the best things about ornaments is that they get hung on the family tree, year after year. Ornaments are a gift that will keep giving, and reintroducing your present into memory with every passing holiday season. A gifted ornament can be store bought and sentimental or, even better – homemade. Do you have a niece or nephew who plays a certain sport? If so, an ornament for the sport they play is a great gift idea. Some shops will even personalize them for you with the recipient’s name, the current year, and a jersey number. Ornaments are generally inexpensive, and always thoughtful.

4. Books

There are few store bought presents that are as personal as a well-selected book. You most likely won’t be buying the same books for everyone on your list. To be really meaningful, each book must be tailored to the specific reader. Stop into your local book store or log into Amazon and go through your gift list. You could probably choose a great book for everyone on your list and spend an average of $10. If your recipient has a Kindle, you can even download an eBook instantly and send it to their Kindle electronically. eBooks are even less money than a paperback or hardcover book would be, and the possibilities are endless!

5. Games

If you have children on your gift list – sons, daughters, nieces, or nephews, then you can’t go wrong with a great game. Choose a classic board game that will help the child develop life skills while also using their imagination. Board games can be a fun and inexpensive gift, which also create happy memories of playing them among family and friends.

6. Movies

A good movie is something that can be enjoyed over and over. Like books, you’ll need to tailor your film selection to the individuals on your gift list. Movies too can be purchased at low prices, from family favorites to the new releases, and even giving electronically or via gift card (think Netflix) to your recipient.

The idea is to keep the holiday season a fun and festive time, and rather than blowing your budget and going into debt – give a small but meaningful gift that also creates a happy memory.

Article Source: Tracy for Moneyning.com

How to Holiday Shop and Not Regret it in the New Year

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It’s the holiday season and we love spending money on those we care about right? It’s very easy to overspend when it comes to holiday shopping.  According to a recent Gallup study, 1/3 of consumers expected to spend over $1,000 on gifts. While that might seem like a great idea in December, there may be some regrets spending that amount come January. If you’d like to avoid demolishing your budget with holiday spending this year, consider these few tips.

Stick to a set budget: It can be really easy to add a few extra items to your shopping cart when you see big sales and savings. It can be even easier if you’re shopping online. What you really need to do is plan ahead, and if you already missed the boat this year – start now for next November. Figure out how much you’ve set aside to spend and don’t allow yourself to make any last minute or impulse purchases. Think about who you’re buying for and pick out something within budget that you know they’ll love. If you’re under budget, choose some smaller items or stocking stuffers until you’ve met your spending goal.

Start early: Are you a last minute shopper who typically hits the mall on December 23 or 24? Unfortunately you won’t find nearly as many deals on December 22 or 23 as you would if you started looking in early November.  Plus, even if you do find exactly what you’re looking for, you’ll probably be in such a hurry to finish your shopping, that you may be forced to pay whatever the price tag says without any sale options since you’ll be out of time.  If you start coming up with ideas in October or November, you’ll have plenty of time to do your research, save up, and find the best deals. Don’t overpay for last minute gifts that you could have gotten on sale weeks ago.

Save your receipts: There’s nothing worse than buying someone a clothing item and then finding out you bought the wrong size. No matter what you’re buying, there’s a chance it’s going to need to be returned. If you don’t have receipts, it’s quite possible the store won’t refund your money in full. If you can remember to get a gift receipt and include it with your gift – even better!

If you would like to get ahead of the game for next year’s holiday shopping – ask us about our Holiday Club Savings Account. You can easily setup payroll deductions from each paycheck to automatically go into the account, and by October you’ll be all set to shop for everyone on your list!*

*A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the program. View full Rewards First program details at firstffcu.com.

Article Source: John Pettit for CUInsight.com