How to Avoid a Financial Holiday Hangover
With consumer sentiment the highest it's been since the recession, shoppers are expected to open their wallets a bit wider this year. Will holiday spending leave you in the red? Not if you use some common sense tips from TAB Bank. This is the most festive time of year, but you don't have to end up with a financial holiday hangover. Use of TAB account features and simple planning can make the season more care-free and enjoyable when you know you're in control of your budget.
To help you to have a fiscally successful holiday season, TAB Bank offers the following tips:
Develop a budget.
Before you start shopping, develop a realistic budget. Don't forget costs beyond gifts like postage, gift wrap, decorations, greeting cards, food, travel and charitable contributions. Use TAB's Online Banking system to track your spending and stay within your budget.
Set up Account Alerts on your TAB Account.
If you budget wisely, you know what your limits are. You can set up transaction alerts to send you a text or email message if a transaction comes through for more than a specified amount. Balance alerts will help you stay within your budget by alerting you if your account balance dips below an amount of your choosing.
Avoid shopping while rushed or under pressure, which can lead to overspending. Make sure to comparison shop before you buy to stay within your budget.
Finding a spectacular sale on something you've been wanting can easily throw you off course. Stay strong and stick to your budget. Don't apply for store credit cards you don't need just to get a one-time discount.
Stay up to date with TAB's Mobile and Online Banking.
Keep track of your account balance as you shop. Use tools, like TAB's Mobile Banking, to check your balance, so you can avoid going into the red.
Save your receipts.
Not only will you need them for possible returns, you'll need to compare them with your monthly statement. Knowing how much you spent will help you plan for next year, too. To receive your statements faster, sign up for TAB's e-Statements.
Save throughout the year with TAB Bank.
Be prepared for the holiday shopping season by gradually setting money aside each month throughout the year. This is also a great away to avoid using credit cards for holiday expenses. Consider taking advantage of any of TAB's financial resources such as Premium Savings Accounts, Money Market Accounts, or Certificates of Deposit. You will be glad you did.
From the Employees at TAB Bank