We love a good sale and finding ways to keep money in our wallets – especially when it comes to Christmas shopping. After a trying year, we’re even more conscious of our spending as we approach the most wonderful time of year.

And we bet a lot of you are in the same boat. To help, the local finance pros at Greenville Federal Credit Union have put together these 7 budgeting tips for the holidays to help you start planning ahead for the season’s celebrations without the added financial stress.

Create a budget and stick to your list 📝

It’s helpful to set a realistic limit on what you can afford to spend on gifts and stick to it. List all your holiday-related expenses, like decorations, travel, food, wrapping paper + gifts. Then make like Santa and check it twice.

#ProTip: Get some extra help when creating your holiday budget with Greenville Federal Credit Union’s My Budget Manager, which can help you track your budget + expenses in real time.

Shop local 🛍️

Small, local businesses are hurting from the pandemic. A recent study revealed 43% of small businesses felt a significant to severe impact from COVID-19. Shopping at a local business will not only help support the local economy, but you’ll find unique gifts that can only be found in your hometown (and you’ll save on shipping costs if you can pick something up locally).

Some local places we love shopping for gifts from are M. Judson Booksellers, Methodical Coffee, and Greenville Soy Candle Co.

#ProTip: If you have a local store in mind, start shopping now. You’ll help cut down on the pressure of the upcoming holiday rush for the retailer and cut down on the stress of rushing around last-minute for yourself.

Cut your expenses ✂️

Once you’ve established a budget, you can evaluate your expenses + find ways to cut back on unnecessary purchases.

#ProTip: Check to see if you qualify for the credit union’s Skip-A-Pay program that allows you to defer your loan payment until the following month. Or, set up a new cash-back checking account. Hello, extra gift cash.

Start shopping early (and strategically) 💻

Many people will rely more on online shopping this year due to the pandemic, and retailers have noticed – many local and national brands are offering online deals + discounts earlier than usual. When shopping online, use discount apps/browser extensions like Rakuten or Honey to score the best promo codes from major retailers.

Additionally, try using a card that pays you back when you’re buying all of these gifts. We love free money. The credit union’s low-rate platinum Visa credit card card gives 1 point for every $1 spent on purchases, which you can redeem for cash, travel, merchandise, or more.

Greenville Federal Credit Union also offers a Greenpath Financial Wellness financial counseling program. The program is free for federal credit union members + assists with debt management services, credit report review + more, so that you can keep shopping strategically.

Plan a gift exchange 🐘

Whether it’s with your whole extended family or a group of friends, a gift exchange is a fun way to save money and still celebrate. Everyone buys a gift for one person, vs. everyone buying for everyone.

There are several kinds of exchanges, including Secret Santa and White Elephant. However you play, just don’t pull a Michael Scott and change the rules mid-gift exchange.

Give the gift of time ⏰

Physical gifts aren’t necessarily the most valuable gifts. Consider giving the gift of your time + effort – like babysitting for new parents (or for your friends who are the parents to two lovely toddlers and haven’t had a night out in four years).

Did your parents finally decide to remodel their home? Offer wallpaper-removing, painting, or cabinetry-installing services to help them out. You could even make these gifts into a cute coupon booklet like you did when you were a kid… but actually fulfill it this time.

Start saving for next year 💰

Already calling this season’s holiday gift budget a wash? Or already have all your gifts purchased? (We admire you.) You could start planning for next year. It’s never too early to start saving for the holidays, and building that holiday budget that you created earlier into your year-round plan.

To help you plan ahead, Greenville Federal Credit Union offers a Holiday Club Savings Account, which is a separate account where you can transfer a small amount of your paycheck each month. The account is locked until November 1 (to keep you from spending those set-aside savings on other things), and after Nov. 1, your money can be withdrawn without penalty. Boom. You’ll be ahead of the game when it’s time for holiday shopping.

Bonus: Shopping at the end of the holiday season can yield deeply discounted prices. (Think: Major savings on decor, wrapping paper, and seasonal gifts – like winter clothing – that you can save and give as gifts next year.) Ⓟ

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