The holidays are an exciting time of celebration, gift-giving, and making memories with friends and family. As they approach, you may be wondering how you can avoid putting unnecessary pressure on your wallet.
Below, we’ll outline three ways to make your holiday shopping more affordable and your stockings more bountiful this year.
#1 Shop the Sales
You can get your loved ones exceptional gifts without paying full price. You simply need to know when to shop.
Black Friday and Cyber Monday are two well-known shopping days for sale-seekers. The average Black Friday shopper enjoys a discount rate of 37.2%.
#2 Use Coupons and Promo Codes
In addition to taking advantage of these strategic shopping days, you can save a lot of money by utilizing coupon codes and special promotions.
Just sign up for the email lists of the companies you plan to shop with. As an email subscriber, you’ll be the first to know when special promotions begin.
#3 Set Spending Limits With Loved Ones
Chances are, you’re not the only person who is thinking about their finances this holiday season. With this in mind, you may want to consider setting spending limits for gifts with friends and family. For instance, you could all agree to keep your gifts under $30 per person. This way, no one will feel pressure to go overboard at the expense of their budget.
You can make sure you stick to your spending limits by reviewing your credit card transactions as you shop. Doing so is easy with the North Jersey Federal Credit Union (NJFCU) MasterCard® Liberty Card. This affordable credit card offers many perks, such as:
- 24/7 access to your monthly transactions
- 24/7 customer assistance
- Balance transfer capabilities
#4 Suggest a Gift Exchange
If you have a big family or group of friends, purchasing a present for every single person may not be in the cards financially. Don’t worry—you can still participate in gift-giving. Just suggest a gift exchange instead.
During a gift exchange, everyone brings one gift and places it under the tree. After that, each person can select the gift that catches their eye and take it home.
As you can see, gift exchange can streamline the costs for everyone involved without hampering any of the holiday cheer.
#5 Finance Big Purchases and Pay For Them Over Time
If you don’t currently have the funds to pay for every gift on your list, you can take advantage of affordable financing.
Here at NJFCU, we offer the following financing options:
- Holiday loan – A personal loan is a fantastic way to finance your holiday splurges. With a personal loan, you can receive all of the money you need upfront and pay it back over several months in budget-friendly installments.
At NJFCU, our affordable personal loans NJ can come with competitive rates and flexible terms. Better yet, it only takes around three to five business days to receive your money once you’ve submitted your holiday loan application.
- Home equity line of credit (HELOC) – If you own a home, you can use one of our low-APR HELOCs to pay for holiday gifts this year. Our HELOCs have APRs as low as 7.00% and come with flexible terms.
NJFCU: The Best Credit Union in New Jersey
By following these five savvy shopping strategies, you can purchase the gifts on your list without breaking the bank. Now, you simply need to wait for those holiday sales to set in.
In the meantime, you can join the best credit union New Jersey has to offer: NJFCU. For over eight decades, NJFCU has been providing New Jersey residents with affordable financial services.
Discover the perks of becoming an NJFCU member today.