How to Avoid a Post-Season Financial Hangover

The holiday season brings joy, tradition, and time with loved ones, but it can also bring financial stress once the celebrations end. Between gifts, events, travel, and last-minute purchases, many people find themselves entering the new year with more debt and less savings than expected. The good news? With a little planning and smart use of our tools, you can enjoy the season without taking on a “holiday hangover.”

Start With a Realistic Spending Plan

Before you start checking off your gift list, take some time to outline your total seasonal budget. Include everything like gifts, travel, meals, parties, décor, and even postage for holiday cards. Seeing the full picture helps you stay grounded and avoid impulse spending.

Take advantage of online and mobile banking features to categorize and track your spending and ensure you are staying within your budget. This makes it easy to adjust in real time if spending begins creeping upward.

Use the Right Account for Everyday Purchases

For day-to-day shopping, consider using Genius Checking where you’ll earn an exceptional APY and rewards on your debit card purchase. This means your holiday shopping could actually help grow your money instead of draining it.

If you prefer to keep a separate account just for holiday expenses, opening an additional savings account can help you stay organized and avoid overspending from your main account.

Be Intentional With Credit Cards

Credit cards can be useful during the holidays especially when paired with a budget and a payoff plan. Keep in mind that your credit limit is a boundary to protect you and not a goal to hit. Write down your planned purchases before shopping and stay committed to your list.

If you do end up carrying a balance after the holidays, consider exploring a low-rate personal loan or balance transfer options to avoid paying more interest than necessary.

Protect Yourself from Holiday Scams

This time of year brings a spike in fraudulent texts, phishing emails, and fake online stores. Before entering payment information, confirm you’re shopping on legitimate sites. Enroll in eAlerts to stay on top of your finances. 

Plan Ahead for Next Year, Starting Now

Once this year’s spending winds down, take note of what worked and what didn’t. Then set up a small automatic weekly or monthly transfer into your savings account or certificate so next year’s holiday expenses won’t feel as overwhelming.

The holidays should be a time of celebration, not financial stress. By planning ahead, shopping intentionally, and using our checking, savings, and security tools, you can enjoy the season fully and start the new year in a stronger financial position. If you need help or have questions, we’re here to help. Stop by any of our convenient branch locations or call 248-322-9800 extension 5 to speak with a team member today. 

 

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