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The Peoples Bank

Holiday Budgeting Tips

It’s the most wonderful time of the year! But for many of us, it’s also the most expensive. The holidays are a time to spread joy through gift-giving, but that doesn’t keep them from being a major drain on our wallets. After all, American households were projected to spend an average of $1,236 on the holidays last year, up 44% the year before, and numbers are only expected to rise this year. So, how do you celebrate the season without being a Scrooge? Here are a few money-saving tips just in time for the holidays!

Set a Budget and Stick to It

We’ve said it before and we’re sure we’ll say it again, planning is everything! By setting a general budget before the holidays even get started, you can better anticipate your spending for the season. Try coming up with a list of everyone you’re planning to get gifts for – like family, friends and co-workers – and set a spending amount for each. When the holidays are here, you’ll have an easier time shopping!

Look for Deals and Don’t Give in to Impulse Buys

Stores want you to buy as much as possible during the holiday season, so take advantage of the deals they have to offer! Do your research online or check your mail for coupons, for you never know when a gift on your shopping list might be on a discount! On the flip side of the coin, don’t give in to impulse buys just because prices are so low. It can be a slippery slope where “treat yourself” purchases end up draining your funds!

Try Making Homemade Gifts

Last but not least, the holidays aren’t just about gifts bought in stores. Whether it’s crafting homemade ornaments or baking a holiday treat, it’s always appreciated when someone puts in the time to make their own gifts. It’ll save you money and create a lasting holiday memory!

The holiday season can be a hectic time on the Road of Life, but luckily, The Peoples Bank is here for you every step of the way. Visit the Savings page of our website to learn more about how we can help you save money this season, like with our Christmas Club account that’s a great way to get a head start on the holidays!

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