Keep Finances in Check - CCCU's Top Holiday Budgeting Tips

Quick Summary: The holiday season can be overwhelming, but with proper planning, you can enjoy the festivities without financial worry. Follow these holiday budgeting tips to manage your spending, avoid debt, and keep your finances on track.

The holidays are filled with joy and excitement, but they can also be a challenging time, financially. It’s easy to get carried away with shopping, decorations, and celebrations, potentially leaving you with post-holiday debt. Follow these simple and effective tips to help you stay within your budget this holiday season:

1. Create a Realistic Budget

Before you dive into shopping, take some time to plan your holiday spending. Make a list of all potential expenses, including gifts, cards, decorations, food, and travel. Take three minutes of your time to come up with a holiday budget using our free coach session. This will give you a clear idea of how much you can afford to spend. Once you’ve got your total, stick to it! Remember, it’s the thought that counts, not the price tag.

2. Track Your Spending

One of the biggest mistakes during the holidays is losing track of spending. With so many purchases to make, it’s easy to overspend without even realizing it. Keep a close eye on your expenses and adjust your budget as needed. You can use apps or a simple spreadsheet to track your spending in real-time and make sure you’re staying within your limits

With your CCCU mobile/online banking, you can make customized account alerts for account balances or spending thresholds.  Simply open your CCCU mobile app, go to Menu > Settings > Alerts > New Alert.

3. Shop Early and Compare Prices

The earlier you start shopping, the more time you’ll have to find the best deals. Avoid the stress of last-minute shopping and take advantage of sales throughout the season. Also, don’t forget to compare prices online and in-store to ensure you’re getting the best value for your money.

4. Choose Between Debit or Credit

Both options have their strengths, so your choice depends on your spending habits and financial goals. If you’re worried about overspending, try using a debit card for your purchases. With a CCCU account, both debit and credit card purchases earn rewards. If you decide to use a credit card, they can offer various benefits like higher rewards and protection on your purchases but can lead to overspending if not managed well.

By following these holiday budgeting tips, you can keep your finances in check and make the most of the festive season without the stress of overspending. Plan ahead, track your expenses, and enjoy a worry-free holiday! CCCU partners with Banzai to protect and help you monitor your budget during this holiday season and to provide financial tips for all your life events!