Thursday, December 12, 2013

7 Holiday Money Saving Tips

Is the financial stress of the holiday season giving you a few reasons to be less than cheerful? You shouldn’t have to start the New Year off with a pile of debt. Your local Mid-Minnesota Federal Credit Union has a few opportunities and helpful tips to give yourself a gift, and some piece of mind this holiday season:

Decide How Much You Can Spend


Most people begin their holiday shopping by coming up with a list of people to buy for. Instead, think about how much you are willing to spend first, and remember to include all the little extras that come along with the holidays (cards, postage, food, travel, etc.)

Make a List. Check it Twice (at least) 

Free Printable!

Once you have a budget worked out, make a list of those you want to shop for, then go over the list and decide how much you can spend on each person. Once you set a dollar amount, don’t go over it. If you can’t afford the sweater little Suzie wants this year, get her something else- focus on the amount to spend, not what to buy.

Pay Cash


Once you have a budget, take cash out. Once that money is gone, you’re done. Using cash while you are shopping puts into perspective how much you are spending at a time better than credit or debit cards.

Skip-a-Payment


Sounds irresponsible, right? Our skip-a-payment program lets you skip up to two payments this holiday season on a variety of MMFCU loans. It’s a fast and convenient way to get a little extra cash for holiday spending. Apply online or over the phone.

Don’t Overlook the Value of Intangibles


Do you want to give someone a gift but don't have the money? If you're already baking cookies for your family, bake another batch for co-workers or neighbors. Offer to babysit for a friend, walk the dog, or take an elderly relative for an outing. The gift may be free, but the meaning is priceless.

Holiday Cash Loans 


MMFCU has Holiday Cash loans available November 1 through December 24, 2013 with a minimum of $500 and a maximum of $1,000 per individual (or up to $2,000 jointly) with rates as low as 2.99%. The best part is you have up to ten months to pay it back! With any loan, certain restrictions apply and you will need credit approval.

Say NO to Toy Lust


With children so into technology these days, some of the items on their gift list can be pretty astronomical. Teach your children to set real-world wish lists with financial boundaries. Not only are you saving money in the end, but you can teach your child about real world limits and the value of a dollar.

Don’t let money get in the way of holiday spirit and time spent with family and friends. Take advantage of some of these simple tips and you won’t have to worry about paying off this year’s holiday merriment next year!

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