Page 15 - AAA Every Day – AAA Hudson Valley – December 2020/January 2021

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Winter is fast approaching and with it comes holiday expenses that can add up fast if you’re not careful. Follow these five easy budgeting tips to plan ahead and make your holidays as joyful as possible:
1.Organize Your Expenses – Make a list of people or events that you know you’ll need to spend money on. It’s easy to remember your close friends and family but then forget that you always give your mail carrier a gift card. By documenting this information now, you will help to avoid unexpected costs down the line.
2.Set Your Limits – Avoid overspending by deciding how much money you’re willing to spend on each person,
gift or event. Setting price limits can also help to narrow down gift ideas if you’re still unsure of what to get. If you already have a gift in mind for someone, you can estimate its price at this point; just don’t forget to account for shipping if you’re ordering online.
3.Open an Account – A dedicated holiday savings account helps keep your seasonal expenses separate from your normal budget. Consider keeping this account open year-round to put money away when you can. This will make next year’s holiday budgeting even easier.
4.Save Where Possible – Keep an eye out for holiday sales online or special deals at your nearby stores. Many stores have price-match policies that can help to get you the best deal possible. It’s also a great idea to check for coupons online and in your mail before you buy.
5.Beware of procrastination – It’s easy to overspend when you wait until the last minute. Instead of buying everything during the end-of-year rush, get gifts here and there throughout the year. Not only will your shopping experience be less stressful, but you’ll be less likely to encounter the dreaded “sold out” sign.
If you stick to these tips, you’ll make it through the holidays with happy gift recipients and an intact wallet. Plan ahead this holiday season by opening a high-yield Online Savings Account from Discover Bank. There’s no minimum balance requirement or account fees and you can earn a “Preferred Member” rate as a AAA member.
To learn more about savings, money market and CD accounts, call 800-347-7056.
Discover Bank, Member FDIC
DEC/JAN 2020/21 I 15
FINANCIAL SERVICES
5 Budgeting
Tips for Your
Holiday Spending
this Year, and Next