The bells will ring for retailers this holiday season if predictions from the National Retail Federation are any indication. Shoppers are expected to spend a staggering $935.58; 58 percent of shoppers will splurge on themselves.
Keep your holidays merry and don’t overspend with these 7 Savvy Financial Tips from Busey and the American Bankers Association:
Make a list—and check it twice.
When you put pen to paper, you get a clear idea of the numbers involved and you know in advance how many gifts to purchase.
Be a bargain hunter.
From coupons to free shipping and complimentary gift cards, look for the best deals. Deal-finder websites take the legwork out of bargain hunting—comparison shop online before you visit your favorite retailers.
Stick to your list.
Curb impulse shopping and spending by buying only what is on your list. If you’ve forgotten someone, add them to your budget, and if necessary, adjust the amount you spend on others.
Factor in other expenses.
Plan for additional costs—including postage for cards and presents, wrapping paper, bows, greeting cards and other supplies, decorations, food and drink and travel expenses.
Review receipts from last year.
This will give you an idea of the amount you actually spend and how long it took to pay for it.
Save receipts this year.
Expenses add up fast. Seeing your totals gives you a reality check—especially how much more you can afford to spend.
Be cautious with credit.
If you plan to use credit, take only the cards you will need. Check your credit card statements carefully for unauthorized charges. Report anything suspicious immediately.
Busey is committed to helping customers handle their hard-earned money responsibly while enjoying the holidays. Challenge yourself to be both thoughtful and impactful with gifts—and remember, your time may be the most meaningful present they receive.
For more holiday spending tips, read The Pillar—Busey’s financial publication. Request your complimentary copy at Busey at 312 E. Main St. in Mahomet or visit the Publications page in the Resource Center on busey.com.
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