{"id":13477,"date":"2024-12-17T16:20:51","date_gmt":"2024-12-18T00:20:51","guid":{"rendered":"https:\/\/www.soundcu.com\/?p=13477"},"modified":"2024-12-17T16:23:16","modified_gmt":"2024-12-18T00:23:16","slug":"savvy-holiday-spending","status":"publish","type":"post","link":"https:\/\/www.soundcu.com\/blog\/savvy-holiday-spending\/","title":{"rendered":"Savvy Holiday Spending"},"content":{"rendered":"<div class=\"co-flex_row co-flex_row__blue co-flex_row__last co-flex_row__long-form-text\" >\n\t<div class=\"co-flex_row--row co-row\">\n\t\t\t<div class=\"co-long_form\">\n\t\t\t\t\t<div class=\"co-long_form--block co-long_form--block__nomedia prow items-start \">\n\t\t\t\t<div class=\"co-long_form--text pcol-md:8\">\n\t\t\t\t\t<div class=\"co-long_form--content\"><h2>Savvy Holiday Spending<\/h2>\n<div class=\"entry-content\">\n<p style=\"text-align: left;\">In case you need a reminder, the holidays are no time to go into debt. And yes, we know this is easier said than done. In a world where social media influencers are encouraging us to splurge, and we can buy things on our smartphones with two clicks, it can be hard to reign in the desire to shower gifts on our nearest and dearest (and even ourselves).<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p style=\"text-align: left;\">Here\u2019s the thing: your friends and family don\u2019t want you to put yourself in a difficult position come January just so they have a few more gifts to unwrap now. And it\u2019s possible to have a perfectly lovely season, and stay out of debt, if you remember a few key strategies. Here are some of their best tips for staying out of debt while still enjoying the season.<\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: left;\"><strong>Create a Holiday Budget<\/strong><\/h3>\n<p style=\"text-align: left;\">This holiday season, focus on smart spending habits. This can start with creating a list and a holiday budget.<\/p>\n<ul class=\"wp-block-list\" style=\"text-align: left;\">\n<li><strong>Plan Ahead &#8211; <\/strong>Whenever possible, you&#8217;ll want to plan ahead and set up a spending plan for the holidays.<\/li>\n<li><strong>Review Cash Flow &#8211;<\/strong>\u00a0If you haven\u2019t done this already, now is a great time to review your current cash flow situation.<\/li>\n<li><strong>Budget Accordingly &#8211;<\/strong> Knowing the exact spending amount going into the holiday season will bring confidence and a sense of relief that it won\u2019t break the bank.<\/li>\n<\/ul>\n<p style=\"text-align: left;\">In other words, don\u2019t plan to spend more money than you have. Living within your means during the holidays may be a real challenge, but if you create a budget and then follow it, you are setting yourself up for success in 2025, financially speaking.<\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: left;\"><strong>Pause Before You Purchase<\/strong><\/h3>\n<p style=\"text-align: left;\">Limited-time offers and flash sales are designed to make us want to spend our money for fear of missing out on a great deal. It\u2019s very easy to be impulsive in the moment, that\u2019s why it\u2019s a good idea to:<\/p>\n<ul class=\"wp-block-list\" style=\"text-align: left;\">\n<li>Pause\u00a0for a few minutes before you complete an online purchase.<\/li>\n<li>Get up from your laptop, put down your phone, and take a break.<\/li>\n<li>Think about if this purchase is absolutely necessary and fits within your budget.<\/li>\n<li>24-Hour Rule. For large purchases, sleep on the decision, and give yourself a good 24 hours before taking the plunge.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3 id=\"h-unsubscribe-to-emails-and-text-alerts\" class=\"wp-block-heading\" style=\"text-align: left;\"><strong>Unsubscribe to Emails and Text Alerts<\/strong><\/h3>\n<p style=\"text-align: left;\">This is an easy way to help declutter your inbox and help save some cash. The emails alerting you to specials on steaks, wine, and shoes that keep popping into your inbox or pinging your phone can be silenced with just a few clicks. Removing these temptations to make unplanned purchases can help you stick to your budget now and in the new year.<\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: left;\"><strong>Gift<\/strong>ing Alternatives<\/h3>\n<p style=\"text-align: left;\">Even if your family or close circle of friends have never done this before, it\u2019s perfectly acceptable to change up your holiday traditions if things are tight.<\/p>\n<ul class=\"wp-block-list\" style=\"text-align: left;\">\n<li><strong>Experiences &#8211;<\/strong> You could also plan a family game or event in lieu of gift giving. Most families enjoy the time together more than a gift anyway.<\/li>\n<li><strong>Draw Names\/Secret Santa &#8211;<\/strong> You can have your group draw names so that everyone only has to buy one gift instead of a dozen or more. This can allow you to spend a little bit more on the one gift.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3 id=\"h-maintain-long-term-goals\" class=\"wp-block-heading\" style=\"text-align: left;\"><strong>Maintain Long-Term Goals<\/strong><\/h3>\n<p style=\"text-align: left;\">Just because the holidays arrive doesn\u2019t mean you can neglect your financial future. Remember to:<\/p>\n<ul class=\"wp-block-list\" style=\"text-align: left;\">\n<li>Continue saving for retirement<\/li>\n<li>Pay down debt<\/li>\n<li>Make regular investments<\/li>\n<\/ul>\n<p style=\"text-align: left;\">What about a year-end bonus? For those who receive them, use year-end bonuses strategically to boost your financial goals. One great idea is to use a bonus to start or build an emergency fund if you don&#8217;t already have one.<\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: left;\"><strong>Plan Ahead for Next Year\u00a0<\/strong><\/h3>\n<p style=\"text-align: left;\">Starting in January, consider:<\/p>\n<ul class=\"wp-block-list\" style=\"text-align: left;\">\n<li>Setting aside\u00a0a certain amount each month in a savings account for the next holiday season.<\/li>\n<li>Setting up automatic transfers.\u00a0An easy way to do this is to set up an electronic transfer so that the money leaves your main checking account before you have a chance to spend it.<\/li>\n<\/ul>\n<p style=\"text-align: left;\">Before you know it, you\u2019ll have a sizable chunk of money set aside for next year. Happy holidays!<\/p>\n<\/div>\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>With the holidays around the corner, it&#8217;s a great time to evaluate your spending habits. Here are some tips and ideas to stay within budget this holiday season. <a href=\"https:\/\/www.soundcu.com\/blog\/savvy-holiday-spending\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":13,"featured_media":13534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_searchwp_excluded":"","footnotes":""},"categories":[50],"tags":[],"class_list":["post-13477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-finances"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts\/13477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/comments?post=13477"}],"version-history":[{"count":5,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts\/13477\/revisions"}],"predecessor-version":[{"id":13539,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts\/13477\/revisions\/13539"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/media\/13534"}],"wp:attachment":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/media?parent=13477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/categories?post=13477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/tags?post=13477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}