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Holiday planning in September

Sept 12th 2017 - Amanda Perkins

Labour day is only just behind us and we are already thinking about the holidays. Why may you ask?  Because planning ahead is key to a stress-free holiday season. From gift exchanges, holiday parties, new outfits, extra groceries the list of expenses can go on and on.  Don’t become overwhelmed with costs right in the middle of your holiday time.  It is after all, the most wonderful time of the year.  Below are 3 tips to planning early for the holiday season.

 

1)      Start savings now!  Even putting away $25 or $50 a pay can add up over the next 15 or so weeks until Christmas. Having this savings set aside can help when budgeting for gift giving, how much to spend when hosting a holiday party, a new holiday outfit or with the additional items need on your grocery list.  Every little bit of preparation can help make for a relaxed and cheerful holiday season.

2)       Consider a small Christmas loan.  If you know the expenses are going to add up, look into applying for a small Christmas loan early.   We start offering our Christmas loans in November and they can help pay for the additional costs of the holiday season.  These are generally low interest, small loans to be paid back over the course of the year.   It’s a great way to manage holiday expenses with the flexibility of paying it off over the course of a year. Also it is a much better alternative to using your credit card at a rate of 19%.

3)       Speak to your lender about our Christmas loan extensions and skipped payments.  Every year we offer our members with mortgages, loans or line of credits, the option to skip their December payments.  If you qualify for the extension the payments will get worked into the loan on a later date. This gives you the flexibility of saving money you would otherwise put towards your debt to help ease the burden of your holiday expenses. Speak to one of our lenders to see if you qualify for this years Christmas loan extension!