In preparation for our Arcadia branch move, we are in the process of relocating our ATMs. Our First Avenue branch currently has one available ATM, which will later be moved to our new location on June 16. Learn more about the move.
The holiday season has begun and you're wondering how you're going to cover all the costs to make sure everyone in your family has an amazing time. Gifts, meals, decor, and travel expenses all quickly add up – and maybe you can't find any room in your budget.
Luckily, our guide is here to help you create a realistic holiday budget and control your spending so you make it through the holidays with your wallet intact. Read on for our handy list of holiday spending tips!
First, let's talk about budgeting in general. A good budget means you know exactly how much you have to spend after you've covered all your regular household expenses. You can work out where the extra holiday money is going to come from and then stick to a holiday spending plan.
On the other hand, overspending during the holidays means you start the new year saddled with debt. Without a budget, you may spend the first part of the year paying off last year's expenses, instead of being able to look forward and plan for the future.
Here are our top holiday shopping tips to save you time and money during the busy season in Los Angeles. Each tip has a series of actionable ideas to consider – mix and match them to find the best strategy for you and your family!
Let's say you already have a monthly budget for your regular monthly income and expenses. The next step is to work out how much extra money you need to cover the holidays and start putting away enough money each month.
It's a good idea to create a budget for each holiday spending category, like gifts, food, travel, entertainment, decor, clothes, donations, etc.
If you're not able to save enough money throughout the year, you need to figure out where else your holiday money is going to come from. The easiest way to do this is to cut your spending.
Paying with cash may help you control spending easier than using your card because you will literally see your money disappear. You could take this a step further and use the envelope method of budgeting.
The first way to reduce your spending on gifts is to make a list of the people you usually buy for and see if you can leave a few people out. This will likely involve communication within the family.
Now that you have your list of gifts you must buy, you need to plan how much you'll spend on each person and in total.
If you still don't have enough money to cover your gifts, now is the time to think outside the box. Here are a few cute ideas that your loved ones will surely appreciate:
Nowadays, the preference is to shop online because you may find a wider selection at lower prices. Plus, you can save on gas and parking. But it's also important to support a few independent stores in your Los Angeles neighborhood.
Your friendly local credit union is here to help you get through the holidays so you can enjoy time with your friends and family, instead of worrying about money. Here are a few simple ways you can use Foothill Credit Union's financial services to stay within your budget.
Click below to learn more about creating a holiday budget so you have a stress-free and festive season!
Foothill Credit Union is a full-service credit union with California branches in Arcadia, Covina and Glendora.
"I have been a member for 20 years or so and I have nothing but positive things to say about you guys. We have used summer skip for a car loan, house loan, Summer Savings program and I am very happy with Foothill Credit Union."
- Thomas R.
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