Railroad & Industrial Credit Union Offers Tips for Reducing Holiday Spending
For the month of December, Tampa Banking Rates is focused on providing readers with saving tips, reducing financial stress and highlighting special programs that can help you save during the holiday season. We asked a local Tampa credit union for some advice.
Railroad & Industrial Credit Union, which offers members checking accounts, savings, loans and more, provides us with several tips for reducing holiday spending and stress:
Top Strategies for Reducing Holiday Stress
Don’t let the holiday cause undue stress: This should be a joyous time for you and your family.
Some things you can consider to reduce the stress:
- Scale Back: Cut back on activities–your friends and relatives know how busy the season can be, they will understand if you can’t make it to all of the events. Better yet, see if you can combine a few so there is a single activity with all involved.
- Simplify: Try to make things simple and take shortcuts when possible–don’t over analyze. Is it more efficient to order online or wait in long lines? If you have time, maybe order items online then when you’re in the mall–you can window shop–no stress there!
- Make Time: Take time for yourself, whether it’s a walk or reading a book. There are many great holiday short stories that will warm the soul and remind you of the real reason for the holidays, like spending time with loved ones or volunteering to help those in need.
Preparing for Extra Holiday Spending
If you find you’re running short on cash this holiday season, consider a holiday loan from Railroad & Industrial Federal Credit Union. The terms are flexible and the rate is low.
If you’d rather not borrow, you can plan for next year now with a holiday savings plan at the credit union. You can save through payroll deduction (weekly, biweekly or monthly–you choose).
The minimum balance is just $5, there are no monthly maintenance fees and you earn dividends (interest). Then in November, the funds are transferred to your share account, so you can shop with cash. Don’t stress out, let the credit union help you make the most of the holidays!
Tips for Reducing Household Spending
Sometimes we are surprised by the electric bill, water or other utility bills. It’s easy to reduce those expenses incrementally with small but effective changes like these examples:
- Fill the dishwasher and washing machine to capacity to save energy and water.
- Turn lights and ceiling fans off when you aren’t in a room.
- Consider using cold water to wash–there are many cold water detergents that work well.
- When it comes to your cable, can you get by with fewer channels? It seems we have hundreds of channels to choose from and there is still nothing on TV.
- Consider switching to a basic cell phone plan. A phone is a necessity these days, but it doesn’t have to replace a computer.
By eliminating stressful situations and making small but positive changes to your spending habits, you’ll be in a much better place to spend wisely. The holidays don’t have to drain your budget if you plan ahead.
