Q&A: How Should I Fund my Holiday Expenses?

Q: I’ve listed all my anticipated expenses for the holiday season and I’m ready to hide under my covers until January. There’s so much to buy and so little money! How can I pay for my holiday expenses?

A: Yep, ‘tis the season to shop until you drop and your budget goes pop! But with proper planning, you can celebrate the holidays with your budget intact. Here are four ways you can pay for your holiday expenses along with the pros and cons of each.

1. Credit cards

Pros:

Convenient. Credit cards negate the need to carry cash around and are accepted at most retailers.
Rewards and cashback. Many credit cards offer rewards points, miles or cashback for your purchases.
Purchase protection. Most credit cards offer protection on big purchases so you can reverse a charge if a product turns out to be different than promised. Some cards also offer extended warranties, price matching and coverage for lost or damaged purchases.

Cons:

High interest rates. If you don’t pay off your balance each month, interest charges can pile up, making your holiday spending far more expensive.
Overspending. The ease of swiping a card makes it easy to overspend, especially during the holidays.
Debt accumulation. If you carry a balance into the new year, you might be stuck with lingering debt that could take months, or years, to pay off.

2. Holiday club accounts

Pros:

Encourages saving. Holiday clubs help you save for the holidays throughout the year.
No debt. Using money you’ve saved helps you avoid going into debt from holiday expenses.
Set it and forget it. You can set up your holiday club to take automatic monthly contributions from another account or payroll deposit throughout the year.

Cons:

Limited access. The funds are usually only accessible at the end of the year, which can be problematic if you don’t have other liquid savings to cover you in case of an emergency.

3. Unsecured/personal loan

Pros:

Fixed payments. Unsecured loans offer predictable monthly payments, which can make budgeting easier.
Low interest rates. Unsecured loans tend to have lower interest rates than credit cards.
No collateral needed. Most personal loans are unsecured, which means you don’t need to risk your home or car.

Cons:

Increased debt. Taking out an unsecured loan adds to your overall debt load.
Interest costs. While rates are lower than credit cards, you’ll still be paying interest on the money you borrow.
Eligibility requirements. You’ll likely need good credit to qualify for the best rates; some people may not qualify.
Temptation to overspend. Borrowing a large lump sum can tempt you to overspend.

4. Home Equity Loan (HEL) or Line of Credit (HELOC)

Pros:

Lower interest rates. Since these loans are secured by your home, they typically come with lower interest rates than credit cards or unsecured loans.
Large borrowing capacity. You can potentially borrow a significant amount of money.
Flexible terms. A HELOC allows you to borrow what you need, when you need it.

Cons:

Risk of losing your home. You risk losing the home if you default on the loan.
Fees and closing costs. HELOCs and HELs may have application fees, appraisal costs and more.
Long-term debt. Using home equity to fund short-term holiday expenses could result in carrying debt for years.

There are several ways to pay for your holiday expenses, and each option has its own benefits and drawbacks. Use our guide to choose the one that best suits your purposes.

Black Friday Hacks

Black Friday is the bargain-hunter’s dream, but it’s a game that’s gotta be played right. Follow these hacks to score big during the biggest shopping day of the year.

Do your research

Many stores release Black Friday ads ahead of time. It allows you to preview upcoming deals and compare prices across different retailers to make a plan for your buying spree.

Make a budget and stick to it

With all the tempting offers during Black Friday, it’s easy to overspend. That’s why it’s so important to set a budget before you start shopping. Decide how much you’re willing to spend overall and allocate amounts for specific items.

Get following

If you aren’t already doing it, follow your favorite retailers on social media. Sign up for email and text alerts, too. You’ll be the first to know about their upcoming sales and deals. You may also want to join their loyalty programs for exclusive early access to Black Friday sales.

Look for discount codes

Don’t settle for the marked-down Black Friday prices. Look for discounts that can bring the price down even further on sites like Vouchercodes and MyVoucherCodes. You’ll find discounts for designer retailers, restaurants and experience days.

Use apps and websites for price comparisons

During Black Friday, it’s important to compare prices from different retailers to make sure you’re really getting the best deal. Lucky for you, there’s an app for that! Tools like Google Shopping, PriceGrabber and ShopSavvy let you scan barcodes or search for products to see how prices stack up at various stores.

Check an item’s pricing history

Don’t just assume every price you encounter on Black Friday is actually being sold at a great discount. Check the price history of any product on price-checking websites like Keepa, Honey and CamelCamelCamel to see the item’s original price and whether it’s really being sold at a significant discount.

Stack coupons

Some retailers let you combine multiple coupons or promotions on top of their Black Friday discounts, which can lead to steep savings.

Focus on big-ticket items

Black Friday is often the best time to buy big-ticket items like electronics, appliances and furniture. Retailers tend to offer their biggest discounts on high-value products during this time, which means it’s your chance to save hundreds of dollars on a new TV, laptop or large kitchen appliance.

Use our hacks to be the Black Friday beast this year with the best bargains on the block!

How to Celebrate Thanksgiving on a Budget

Thanksgiving isn’t cheap! With the costs of food, decor and travel, there are so many expenses to cover. With a bit of planning, though, you can enjoy a festive holiday without breaking the bank. Here’s how to save on Thanksgiving costs this year.

Start your shopping early

Retailers start displaying Thanksgiving staples early, so if you start ahead of time, you can build up your supplies over weeks while spotting the best deal on everything. Plan your menu around these deals to save even more.

Stick to your list and budget

Before starting your prep, take the time to create a Thanksgiving shopping list and a budget for all your expenses. Without a budget, it’s easy to go overboard with your shopping. Be sure to include all Thanksgiving expenses in your budget.

Plan your travel wisely

If your Thanksgiving plans include traveling, follow these tips to keep costs low.

First, choose to fly on slower travel days. Flying the Monday before Thanksgiving will generally net you cheaper tickets than traveling on Tuesday or Wednesday. You’ll also want to book tickets at least six weeks ahead so you don’t end up paying a premium for last-minute plans. Finally, consider traveling lightly to avoid baggage fees.

Go potluck

Save on your Thanksgiving dinner costs by sharing the load and going potluck. Ask each of your guests to bring along one dish for a dinner that’s easier to prepare and lighter on the wallet. As a bonus, your dinner will have a lot more variety and will likely be more enjoyable as well.

Keep it simple

Thanksgiving is about spending time with the people who matter to you most and expressing gratitude for blessings in your life. Keep this in mind as you prepare for the holiday and resist the pressure to go overboard with food or décor. A simple meal served by a calm and present host can be more meaningful than an extravagant spread prepared by a cook who is frazzled and worn out.

Decorate on a budget

Instead of spending boatloads of money on store-bought décor, make your own with items you already have. Beautiful fall leaves, pinecones and branches can be used to create striking centerpieces and table settings. You can also repurpose things you already own, like Mason jars, candles and baskets.

Use these tips for a memorable Thanksgiving on a budget.

Anatomy of a Car Payment

When you get a loan to buy a car, you’ll get a new set of keys — and a new monthly payment. It may have you wondering how this payment is determined and how it’s calculated.

So many questions, and we’ve got answers! Let’s break down the parts of a car payment, explain how monthly payments are calculated and offer tips for managing your payments well.

What are the components of a car payment?

Principal

The principal is the amount of money you borrow to purchase the car. For example, if you buy a car priced at $35,000, and you put $5,000 as a down payment, the principal of your loan is $30,000.

A portion of each monthly mortgage payment will go toward paying down the principal balance of your loan.

Interest

Interest is the cost of borrowing money from a lender. It’s calculated as a percentage of the principal amount and is added to your monthly car payment. The interest rate on your loan will depend on a handful of factors like your credit score, the length of the loan term and the current market conditions.

Loan term

While this is not really a part of the loan, you’ll likely see this referenced on your monthly statement or loan bill. The loan term is the length of time you have for repaying the total loan, typically expressed in months. Common auto loan terms range from 36 to 72 months, with some loans extending even longer. The longer the term is, the lower the monthly payments will be, but the more interest you’ll pay over the life of the loan.

If you’ve rolled additional costs into the loan, they may also be part of your monthly payment. This can include:

Taxes and fees

If you choose to finance taxes, registration fees or other upfront costs of the loan, these will be included in your loan amount and will increase your monthly payment. These costs are not itemized separately; instead, they’ll be incorporated into the principal.

Add-ons

Optional add-ons like extended warranties, gap insurance and other products you choose to finance will also be included in your loan principal, thus increasing your monthly payment.

Additional costs of car ownership

While not included in your monthly loan payment, these expenses are an inherent part of owning a car:

Insurance. Lenders typically require you to carry comprehensive and collision coverage as part of your financing agreement, ensuring the car is protected if in an accident.
Maintenance. Your car will need regular maintenance and upkeep, which you’ll need to budget for.
Fuel or electricity. Of course, you won’t be able to drive a car without gas or springing for electricity to power it.

How are car payments calculated?

To calculate your monthly payment, the lender will take the principal of the loan along with any add-on costs, and the interest amount due, and divide this number by the months in your loan term. This is the amount you’ll need to pay each month.

Managing your car payment

Managing your car payment well requires careful planning and budgeting. Here are a few tips to help you stay on top of your payments and minimize the overall cost of your car loan:

Compare offers from multiple lenders to find the best interest rates and loan terms.
If possible, make a larger down payment to reduce the amount you need to finance.
Choose a shorter loan term.

High Point FCU auto loans offer great terms, easy eligibility requirements for qualifying members and a quick application process. Call, click or stop by today to learn more.

Summer Entertaining on a Budget

Summer is the perfect time to gather with family and friends to enjoy warm weather, but all that hosting can come with extra costs. Fortunately, you can have your party, and your budget, too. Here’s how to host the best gatherings this season without draining your wallet.

Plan ahead

Start by creating a guest list and deciding on a theme or menu. This will help you stay focused and avoid last-minute impulse buys.

Keep it simple

Keep your menu simple and focus on a few crowd-pleasing dishes that can be prepared in advance. Of course, you can always go for a barbecue in the summer, and grill your proteins and veggies on the spot.

Host a potluck

If you want to host another dinner, but you don’t want to cook for it, have a potluck. Divide your menu and have each guest bring one dish along for a varied meal that’s easy and inexpensive for everyone.

DIY décor

Get creative and make your own decorations using items you already have at home or inexpensive materials from a dollar store. You can use fresh flowers, candles, Mason jars or colorful tablecloths to add a festive touch to your outdoor space.

Choose budget-friendly beverages

Save money by serving budget-friendly beverage options like homemade sangria or signature cocktails. Consider shopping at discount stores or keep it dry and stick to refreshing non-alcoholic beverages.

Take it outside

There’s no need to book a venue when the weather is gorgeous outside. Take advantage of your outdoor spaces and host your gathering in your backyard or out on your patio. You can also have your party at a local park or scenic waterfront.

Shop smart

Shop discount stores, warehouse clubs, or dollar stores for affordable party supplies, decorations, and disposable tableware. If you’ll be hosting often this season, consider buying in bulk to save even more.

Get creative with entertainment

Entertainment doesn’t have to cost a fortune … or anything, actually! Get creative with budget-friendly options like backyard games, DIY photo booths or even just a playlist of your favorite tunes. Encourage guests to bring their own games or sports equipment to add to the fun.

Let those savings sizzle!

Building Financial Resilience: Strategies for Overcoming Financial Stress

In today’s fast-paced world, we face many financial challenges as we juggle a lot of responsibilities. The constant pressure to earn enough for covering day-to-day expenses while remembering to put away money for your financial goals never lets up. To make it even more difficult, life only gets more expensive as time goes on. However, despite the inherent hurdles, overcoming financial stress and living a financially fit life is very doable. Let’s take a look at key strategies for building financial resilience.

Manage debt

Debt can be a big source of financial stress. To effectively manage debt and gain control of your finances, take a proactive approach:

Assess your debts and choose which to prioritize.
Create a repayment plan, like the snowball or avalanche method.
Maximize debt payment until you’ve paid them all off.

Build an emergency fund

Building an emergency fund is important for creating financial resilience. Here’s how to do it:

Start small. Gradually increase the amount you regularly save over time.
Automate your savings. Make saving automatic by setting up regular transfers from your checking account to a separate savings account.
Aim for three to six months’ worth of expenses. While this can take time, make this amount your ultimate goal so you can weather any surprise and keep your finances intact.

Set financial goals

Setting clear financial goals will empower you to take control of your financial well-being and build your financial resilience. Follow these steps to successfully set financial goals:

Identify your short-term and long-term goals.
Make your goals specific and measurable.
Break goals into actionable steps.

Practice self-care

Taking care of yourself is a vital part of reducing financial stress. Find time to pursue your interests and to take frequent breaks from the daily grind. And it doesn’t have to put you into debt, either. You can go for a walk alongside a beautiful lakefront, learn a new language, visit free galleries showcasing your favorite art or develop a hobby by watching free DIY videos.

Managing money responsibly in current times is super-challenging, but financial resilience is within reach. Use the tips outlined here to achieve and maintain financial resilience.

Practical Budgeting Made Easy

With the right tools and information, building a budget can be quick and easy. Here’s how to create a simple and practical budget for the time-strapped consumer.

Review your income and expenses

Most budgeting plans recommend tracking income and expenses for three months. If you’re pressed for time, though, you can choose to look at one month and review your spending and income throughout this time. Review your checking account details and credit card statements to see where your money went and what funds came in.

Compare income and expenses

Hold up your two numbers from the previous step and see how they compare. If your income outweighs your expenses, you’re doing great! If it falls short, you’ll need to trim your expenses in the next step or look for ways to boost your income. If the numbers balance each other out, it’s still a good idea to trim expenses to leave some budget wiggle room.

Assign a dollar amount to every expense category

Next, review the ways you spend your money and assign a dollar amount to each category. Include fixed and changing expenses as well as savings contributions.

If you’re pressed for time, you can make your categories more broad. For example, instead of setting a separate number for groceries, work lunches and dining out, you can set a larger number for all monthly food expenses.

If your income does not cover your expenses or just barely covers them, look for ways to trim the fat however possible.

Jot down your dollar allocation on paper, or create a digital version of your budget and upload it to your personal devices for easy access.

Use technology

Harness the power of technology to help you track and manage your expenses well. A budgeting app can make tracking your monthly spending super-easy. You can upload your budget to the app and track expenses throughout the month. The app will let you know how much you’ve spent in each category and warn you when you’re approaching the limit.

Live with your budget

You’re ready to live with a budget! Remember to keep your monthly expense categories in mind as you spend throughout the month.

If you find it too hard to keep track of your spending throughout the month, the money envelope system can make it easier. Simply withdraw cash amounts for each non-discretionary expense category in your budget at the start of the month and only use the money in these envelopes to pay for these costs throughout the month.

Review and adjust

Your budget is up and running! Review your spending plan regularly to see if it’s still working for you and adjust as needed.

Budgeting doesn’t have to take a lot of your time or be overly complicated. Use this guide to learn how to create a practical, easy budget that works.

8 Creative Ways to Save on Heating Costs this Winter

Q: I’ve sealed all leaky windows and doors in my home, but my heating bill is still astronomical. Is there anything else I can do to keep my heating costs down?

A: Sealing air leaks is a great first step toward lowering your heating bill. Luckily, there are many other methods for hacking your way to a lower heating bill.

Here are some creative ways to save on heating costs.

Dust your vents

This can be an easy, effective way for lowering your heating bills. Dust acts as a natural insulator and can block some of the hot air from heating your home.

Lower your thermostat

The Department of Energy recommends setting your thermostat to 68 degrees in the winter for maximum energy savings. For every degree you crank it down over an 8-hour period throughout the month, you can shave 1 percent off your heating bill. If you can lower your thermostat by 10 degrees at night or while you’re at work, you’ll save 10 percent off your heating bill! A programmable thermostat can do the job for you so you don’t have to remember to turn it down.

Turn on your ceiling fans

Most ceiling fans are equipped with a “summer” and “winter” setting. In the wintertime, set the blades to move in a clockwise direction so hot air, which naturally rises toward the ceiling, can be blown downward to warm up the room.

Use aluminum foil

Tape a piece of aluminum foil behind the radiator to reflect heat into the room instead of into the wall.

Use zone heating

If you live in a large home, keep the lesser-used areas just warm enough to prevent pipes from freezing. Close some of the vents in these rooms and shut the door to keep that heat in. On the flip side, open the doors of the rooms that see heavy use so hot air can flow evenly throughout the house.

Rearrange your furniture

Check if you have any furniture situated near your heating vents. You don’t want to be paying all that money just for hot air to be flowing into the underside of your living room sofa.

Let the sunshine in

The low-in-the-sky winter sun can give you hours of free solar heat each day — if you let it in. Be sure to open the curtains in the early morning hours and to close them at night to keep that warm air inside. You may also want to swap your curtains for thicker, insulated ones in the winter for further protection against the cold night air.

Humidify your air

Use humidity to your advantage by investing in a humidifier for the winter. Moisture helps to hold onto heat and will keep the air warmer longer.

6 Financial Resolutions for the New Year

It’s a brand-new year, so now is a great time to set budget-friendly resolutions to pave the way toward a more financially fit future. Here are six financial resolutions to get you started.

1 – Create (and stick to!) a budget

If you don’t have a monthly budget, let’s get one started! Track your spending and income over several months, and then make a list of all expenses and all monthly income streams. Assign a dollar amount to each expense category. If your columns are equal, or your income is more than your expenses, you’re doing great. But, if your expenses are more than your income, you’ll need to trim your spending or find ways to increase your income.

After you’ve created your budget, or if you already have one, resolve to actually stick to it each month. You can use one of the many budgeting apps, like YNAB, to help.

2 – Build an emergency fund

An emergency fund is your financial safety net. Experts recommend having three to six months’ worth of living expenses in your emergency fund. Resolve to build an emergency fund this year by setting aside a small sum of money each month until you have a nest egg that can get you through virtually any emergency.

3 – Trim your expenses

Have your expenses started trickling upward in any area(s)? Identify your weak points and brainstorm for ways to start spending less. Small change today adds up to big bucks tomorrow.

4 – Pay down debt

Make this the year you pay down debt, or at least make real headway toward getting rid of it for good. You can choose to prioritize high-interest debts, or work on paying off your smallest debt first to keep your motivation going. Maximize payments on your chosen debt until it’s paid off. Then, keep on rolling to the next debt on your list until you’re completely debt-free.

5 – Automate your savings

It’s all wonderful to resolve to put more money into savings each month, but how do you turn those good intentions into reality? Set up automatic monthly transfers from your checking account to your savings so you never forget to feed your savings.

6 – Expand your financial education

Invest in your financial education this year by reading books, taking online courses, listening to podcasts or attending seminars on personal finance.

Financial Preparation for The New Year

The new year is almost here. Are you ready?

Usher in the new year with plans for financial improvement and resolutions to do more.

Here are some tips to get you started:

Tune your budget

It’s great to start off the new year with a plan. A budget is just that — a plan — that starts with the income you expect and your fixed expenses such as your mortgage, insurance, and utilities. The plan incorporates your savings goals, and the remaining money is designated for your other expenses. A realistic budget will help you set your financial goals and will remind you to stick to them. Now is the perfect time to assess last year’s budget or create a new one if you don’t yet have one in place.

Reviewing how you spent last year’s money will help you make better financial decisions for the year ahead. While thinking about it, include a method for tracking your spending. You can do this on a spreadsheet or tag items in your checking account.

Even with a solid plan, there can be surprises along the way, so be sure to build an emergency fund into your budget.

Plan ahead to meet your goals

Consider how you will accomplish your goals. You might have shorter-term goals, such as purchasing a new home, as well as longer-term goals, like retirement. Each set of goals requires different kinds of planning and saving.

Financial planners recommend setting up a separate savings account for each goal. This way, your progress toward that goal is clear.

It’s best to work backward for determining how much you need to save for each goal. Determine the cost of your goal and then establish a reasonable timeframe as well as how much you’ll need to save each month to reach it.

Spend mindfully

Make your financial future more secure this year by identifying your wants and needs. Your needs are necessary for survival and include food and shelter. Your wants are simply things you desire-like a luxury car. Tend to your needs first. Then, if there is money remaining, consider your wants.

This might sound obvious, but for many of us, the lines between wants and needs are blurred.

Maximize tax contributions

Tax deductions can be a valuable source of savings. If you have employer-matching funds available, take advantage of them. Also, verify with your HR contact and your accountant that you are contributing the optimal amount to your 401(k) and IRA.

Check your flexible savings account (FSA)

If you have unspent money in your FSA, now is the time to use it. Your pre-tax dollars in such accounts typically need to be spent before the end of the year or they are lost.

Put the brakes on holiday spending

Avoid going overboard on holiday spending or you might spend the beginning of the year trying to pay it all back.

These are just a few of the many ways you can prepare financially for the coming year. With a little attention to some often-overlooked details, a little perseverance, and a little mindfulness throughout, you’ll be moving forward with a strong foundation and positive outlook.

What’s the Best Way to Pay for Holiday Shopping?

Q: Holiday shopping season is here, but I can’t pay for it all! What’s the best way to fund my holiday shopping?

A: When it comes to covering the cost of your holiday shopping, you have several choices. Let’s take a look at some options and explore the pros and cons of each so you can make an informed decision.

Credit cards

For many shoppers, the most obvious way to pay for a purchase you can’t cover now is with a credit card.

Pros:

Significant purchase protection.
Convenient payment method.

Cons:

Interest charges for unpaid bills can be very high.
You may be paying off these bills for months or years.
Extended debt can hurt your credit score.
You may be more tempted to (or unknowingly) overspend.

Savings

Dipping into savings to pay for your holiday purchases can free you from sky-high interest charges but comes with drawbacks.

Pros:

You’ll enjoy a debt-free holiday season.
No incurred interest charges.

Cons:

Depleting the savings that’s meant for emergencies can leave you up a creek later.
You’re losing the money your savings may have earned had it been invested or saved longer.

Unsecured/holiday loan

An unsecured loan, also known as a personal loan or holiday loan, is a loan that’s taken out with no collateral.

Pros:

You’ll secure quick funding.
Low interest rates compared to credit cards.
You can stretch the repayment over a longer term for smaller monthly payments.

Cons:

You’ll need to pay the full monthly payment when it’s due.
You may be hit with a fee if you pay off the loan early.
Missed and late payments can hurt your credit score.

Check out our Holiday Loan Special!

Holiday club account

When you open a holiday club account , you’ll make regular contributions toward your set goal throughout the year, and then have funds you’ll need for covering your holiday purchases when the season arrives.

Pros:

Holiday costs get more manageable when spread across the year.
Favorable dividend rates.
Prevents overspending and accumulating new debt.

Cons:

Funds in the account cannot be accessed until the goal (or preset date) is reached. Tying up savings can be irresponsible for those who do not have an emergency fund.

Use this guide to make an informed choice about paying for your holiday shopping.

10 Hacks for a Stress-Free Thanksgiving That Doesn’t Break the Bank

Hosting a Thanksgiving dinner is an enjoyable, rewarding experience, but it can also be a bit much for many of us. The expenses can be sky-high, the to-do list seems endless and the dinner itself can be a harried and breathless affair that puts a damper on any holiday cheer.

Here’s the good news: It doesn’t have to be this way. Consider these 10 hosting hacks to help you enjoy a calm and stress-free Thanksgiving that doesn’t break the budget.

Start planning early

Instead of waiting for the overwhelm to hit a week before Thanksgiving, start planning now. Look through your favorite recipe blogs, food magazines and cookbooks to compile a list of dishes you want to serve. Reach out to friends and family who are joining you for Thanksgiving dinner and inquire about what, if any, dishes they plan to bring. At this time, you can also ask about any dietary restrictions any of your guests may have.

Next, make a detailed menu and start listing the ingredients you’ll need to purchase. You can also jot down any other purchases you’ll need to make, such as decor items and serving dishes. Aside from making your prep easier, planning your menu and purchases early will help you make more responsible money choices as you shop.

Create a detailed schedule

Next, start scheduling the tasks you’ve just listed into your weekly and daily schedules. For example, a few weeks before Turkey Day, you can shop for drinks and any dry and frozen ingredients. You can do all the baking two weeks before the big day, prep your marinades, sauces and salad dressings a week before, the appetizer and sides a few days prior to Thanksgiving, and finally, the entrees on Thanksgiving Day. You may want to write everything down on a calendar so you can get a clear snapshot of what you need to do each day with just one glance.

Of course, if you prefer to marathon-cook for seven hours straight on the day before Thanksgiving, that can work, too. Just make sure you’ve taken care of all the other to-dos, such as shopping and planning the decor, well in advance.

Consider a buffet

If you hate missing all the best parts of the conversation at the Thanksgiving table because you’re busy in the kitchen, you may want to consider a buffet-style meal. While it’s definitely a departure from the traditional sit-down dinner, a serve-yourself meal can be a great way to make things easier for you. You can also get away with offering fewer dishes when it’s all served at one time instead of a formal meal with staggered courses.

Delegate

If no one’s offered to help you cook, don’t be afraid to assign small jobs to your guests so they can be part of the prep. It doesn’t have to be anything too time-consuming on their part, but for you, just knowing that Cousin Jen is bringing the mashed potatoes and your mom will bring her famous pecan pie for dessert means two menu items off your head.

Set up a kids’ corner

If you’re hosting families with children, create a kid-friendly area with games, coloring books and activities to keep the little ones engaged. This way, parents can enjoy the meal without worrying about bored and restless kids. You can also offer kid-friendly menu options like fries and chicken nuggets to keep guests of all ages happy and well-fed.

Use disposable dishes

Are you ready for a super-quick clean up when the party’s over? With today’s robust dinnerware options, you can have your convenience without compromising on your conscience. There are so many eco-friendly disposable options, from compostable cutlery to bamboo plates and so much more.

Set up a self-serve drink station

Create a self-serve drink station with a variety of beverages to cater to different preferences. Include water, non-alcoholic options and a signature Thanksgiving cocktail to keep things festive. This encourages guests to help themselves, freeing you up to focus on other aspects of hosting.

Keep the centerpiece simple

With so much going on at the table, there’s no need to overthink the centerpiece. A simple wooden board filled with seasonal gourds will add that festive touch to the table without breaking the budget. Add some pillar candles from a dollar store to complete the look.

Cook two small turkeys

If you’re hosting a crowd, consider cooking two small birds instead of one large one. You’ll save on defrosting time, freezer space and the stress of choosing the perfect recipe. You may even save money on your entree by splitting it into two with this hack.

If it’s stressing you out, let it go

The best part about being the host is that no one has to know what you’d planned to serve. So if you’re finding that one dish is stressing you out and will cost more than it’s worth at your table, just let it go. Leave it out, and no one will know the difference.

Despite what personal experience may tell you, Thanksgiving does not have to be stressful or expensive. Use these hacks for a stress-free Thanksgiving holiday.

Super-Scary Halloween Hacks to Save You Money

Don’t let Halloween costs spook you! Here’s eight great hacks for saving on costumes and decor.

Ghastly ghosts

Create an army of floating ghosts using nothing but white trash bags. Gather a bunch of bags and stuff them with crumpled newspaper. Tie the “head” with a rubber band and use a permanent marker to draw spooky faces on your ghosts. Hang your frightful friends around your house and yard to scare your party guests and trick-or-treaters.

Spooky bird houses

Create a mini haunted house to hang on your door or decorate your table using a basic bird house, black paint and cotton. Paint the bird house black and stretch cotton over it for a cobwebby effect. Finish it off with a few paper ghosts peeking out the windows and doors, and you’ve got yourself a tiny haunted house!

Shark attack!

For a fun and freaky costume that costs next to nothing, go as a surfer being eaten by a shark. Dress in swimwear, with a towel slung over yourself if the weather makes it necessary, and apply fake blood to a visible spot on your neck or arm. Use face paint to create a shark bite and apply the blood so it surrounds the bite and drips out. For a fun touch, attach an inflated or stuffed toy shark to your costume.

Mason jar lanterns

For easy DIY decor, paint Mason jars with spooky designs and insert battery-powered tea lights for a bewitching glow. Line your walkway or porch with these lanterns to welcome trick-or-treaters.

Creepy crawlers everywhere

Use an inexpensive package of plastic spiders to scare your guests silly! Freeze some in ice cubes for a spooky surprise in everyone’s drinks, scatter some across the table to make someone shriek and even add some to your soap dispenser to really freak everyone out. Let your trick-or-treaters in on the fun by sprinkling some into your bowl of candy.

An eerie flicker

For a super-easy and super-cheap centerpiece, paint old wine bottles black. Use matte paint for the best effect. When your candlestick holders have dried, insert long orange taper candles into each one to add a festive look to your table.

Care for a lollipop?

Turn your pumpkin into a fun lollipop dispenser with the help of an electric drill. Drill small holes in your pumpkin and then stick a lollipop into each hole. Set it up on your steps for an adorable, help-yourself trick-or-treat.

Retro costume

For a costume that will make everyone laugh and won’t cost a penny, go as your college-aged self. Dig out your old clothing and accessories, and if you had a crazy hairstyle back then, incorporate it into your costume, too.

Three Common Money Mistakes People Make

Managing money responsibly doesn’t just happen. Even with the best of intentions, many people make mistakes in how they handle money – and they don’t even realize it. But there’s good news! Harmful behaviors can be unlearned. Let’s look at three common money mistakes and how to fix them.

Mistake #1: Ignoring one’s financial situation

It is common for people to go about everyday living without a whole lot of thought toward their money. They may not know how much they have in their checking and saving accounts. They could also jam their heads in the sand when it comes to their outstanding debt. Awareness of how good or bad their credit score is? Forget about it! The hard truth, though, is that ignoring money can lead to big-time consequences, like excessive debt, missed payments and zilch in savings.

The fix: To avoid this mistake, assess your income, expenses and savings regularly. Creating a budget can help you get a handle on your financial inflows and outflows. This way, you can identify areas where you can cut back, save more and achieve and maintain financial wellness.

Mistake #2: Not having a clear money vision

The second common money mistake is a lack of financial plans or goals. Without an established money vision, it can be challenging to make smart money choices.

The fix: Establish short-term and long-term financial goals. Whether it’s saving for a down payment on a house, starting a business or planning for retirement, having a clear vision will guide and motivate all your financial decisions while ensuring they’re choices you can live with for years to come.

Mistake #3: Not discussing money

The third common money mistake is failing to talk about money with one’s life partner. Money is a sensitive topic, and many people believe they can avoid arguing over money by not talking about money. Unfortunately, though, not talking about it can lead to misunderstandings, conflict and financial instability within the relationship.

The fix: Have open and honest discussions about money with your partner. By establishing open lines of communication, you can work together to create a joint financial plan that aligns with both partners’ values and aspirations.

Use this guide to learn how to fix three common money mistakes and avoid making them in the future.

The Importance of Saving for a Rainy Day

Life is full of surprises, and some of them can be expensive. Whether it’s a medical emergency, job loss, car repairs or any other unforeseen event, having a financial safety net can provide a sense of security and stability. Let’s take a look at why it’s so important to save for rainy days.

Stay out of debt

When life throws an expensive surprise your way and you don’t have money to pay for it, you may fall into debt just to get by. On the flip side, if you had a well-padded emergency fund, you’d have the cash you need to fall back on in case of an emergency.

Be prepared for sudden unemployment

When you live paycheck to paycheck, your job is your financial lifeline. But no job is guaranteed to last forever. Your workplace may decide to downsize, close its doors or even to replace you with a bot. Or, you may find yourself unable to work due to personal circumstances. Having an emergency fund when you’re gainfully employed can help you stay afloat should you suddenly find your lifeline is reduced or cut out.

Flexibility and freedom

Saving for a rainy day brings an element of flexibility and freedom to your life. It enables you to pursue new opportunities, take risks and make major life changes without the constant fear of financial instability. Whether it’s starting a business, furthering your education or taking a sabbatical, savings provides the support you need to confidently explore these possibilities.

Peace of mind

Financial stress can take a toll on your physical and mental wellbeing. Constantly worrying about money can lead to anxiety, depression, strained relationships and more. Knowing you have an emergency fund prepared and on the ready for a rainy day can offer a sense of security and peace of mind.

Achieve long-term financial goals

Saving for a rainy day is not just about preparing for emergencies; it’s also a stepping stone toward achieving long-term financial goals. Whether it’s buying a house, starting a family or planning for retirement, having savings will help you stay on track.

Avoid economic downturns related to market fluctuations

The economy is subject to fluctuations, and financial markets can be volatile. During economic downturns or recessions, people will often face reduced job opportunities, pay cuts or decreased business revenue. However, an emergency fund can make a challenging economic climate easier to navigate. People who’ve saved up money for emergencies will be less reliant on credit cards and loans during such times, thus lowering their vulnerability to economic uncertainties.

If you don’t have a well-padded emergency fund, start building one today! Most experts recommend having three to six months’ worth of living expenses in your emergency fund. Review your monthly expenses to reach this number, and then make a plan for building up your fund until it’s complete. You may want to prioritize your emergency fund over other investments until it’s set up.

When the sun is shining, it’s hard to believe the rain will come, but no one’s life is all sunshine, all the time. Saving for a rainy day is a crucial part of financial wellness. Start saving today for a more secure and financially fit life.

Money Tips for College Students

Hello, college, hello, money worries!

College life brings a sense of independence that extends to personal finances. Being in charge of your own money can seem like an impossible challenge, but it doesn’t have to be that way. If the thought of managing your money in college is stressing you out, dig into these tips for some help!

Create a budget

Living with a budget is a must for good financial wellness. First, track your income, including all earnings from part-time jobs, scholarships and student loans. Next, list your expenses, including tuition fees, textbooks, rent, groceries, transportation and entertainment. Set a realistic spending amount for each category, and your budget is good to go! Review and adjust as necessary.

Minimize student loan debt

Student loans can be a big financial burden after graduation. To minimize your debt, explore options such as scholarships, grants and part-time jobs to cover educational expenses. You can also get ahead on your debt by saving for your student loan payments before you graduate.

Live frugally

You can have your fun while in college, and your budget, too! First, buy used when possible. This goes for textbooks, sports equipment and your college car. Next, consider pooling some of your expenses with roommates. For example, you can split the costs of food items, cleaning supplies and more. Finally, get used to eating in and save big. Remember, every dollar saved can go toward your future.

Prioritize essential expenses

Life while in college is filled with temptations and social activities, so it’s crucial to prioritize your expenses. First, make sure your tuition, rent, utilities and groceries are covered and then you can spend money on fun! Having a good budget developed, and a regular review of it, will help you plan in some of that fun.

Build your credit

College is a great time to get your credit score ready for adult life. A strong credit score is essential for qualifying for large loans, getting favorable interest rates, securing a job and more. To build credit responsibly, consider getting a secured credit card or becoming an authorized user on a family member’s credit card. Use the card sparingly and make full payments on time each month.

Take advantage of campus resources

College campuses often provide many resources to help students manage finances. Take advantage of financial literacy workshops, counseling services and career centers at your college.

Use these tips to manage your money smartly in college.

How to use Appliances Efficiently

Did you know that appliances account for approximately 13% of your home’s energy use? The good news is, you don’t have to completely pull the plug to save on your energy costs. Here’s how to use your appliances more efficiently to reduce your energy use and do one for the environment.

Choose energy-efficient appliances

When purchasing new appliances, choose models with high energy efficiency ratings. Look for the ENERGY STAR label, which indicates that the appliance meets strict energy efficiency standards.

Follow the user manuals

User manuals provide valuable information about the optimal usage and maintenance of appliances. Take the time to read the manuals thoroughly, as they offer specific instructions on how to maximize efficiency and extend the lifespan of each appliance.

Use appliances smartly

Take full advantage of any automatic settings on your appliances to use them more efficiently. For example, you can set your HVAC system to adjust its temperature when no one’s home or everyone is asleep.

Saving on energy around the house

Follow these tips to use appliances more efficiently around the house:

Computer

Choose “sleep” over “screen save” to use less energy when away from your computer.
Consider switching from a desktop PC to a laptop, as these use 10% of the electricity.
Turn off your monitor when it’s not in use.
Think three times before you print.

Oven/range

Match up your pots to your burner size
Cook with aluminum pans for even heat conduction.
Keep range-top burners clean for better reflection of heat and saved energy.

Refrigerator/freezer

Keep your thermostats at the recommended settings.
Position your refrigerator away from a heat source.
Clean the condenser coils of refrigerators and freezers regularly.

Dishwasher

Only run full loads.
Avoid pre-rinsing dirty dishes unless absolutely necessary.
During warmer times of the year, run the dishwasher in the early morning or evenings, when it’s cooler out.

Washer/dryer

Wash with cold water as much as possible.
Keep the lint filter clean for quicker dry times.
Make sure your dryer is vented properly.

Air conditioner

Cook less when it’s hot out.
Set your thermostat to adjust automatically.
Clean or replace your filters regularly to maintain proper airflow.

Use these tips to use your appliances more efficiently and save on energy usage and total costs.

Going Organic on a Budget

Going organic is a great way to improve your personal health and the health of the environment. Fortunately, it does not have to mean spending big. Here’s how to go organic on a budget.

Prioritize your purchases

If you’re on a strict budget, you likely won’t be able to go completely organic all at once. Start with what’s most important to you. You can move on to another area as the budget allows until you’ve completely embraced the lifestyle.

Buy in bulk

Look for bulk b ins at your local natural grocery store for steep savings. If you can’t finish all your bulk organic purchases before they’ll go bad, partner with a friend and split the costs.

Shop the seasons

In-season produce generally tastes better than off-season fruits and vegetables, and it’s cheaper. Choosing organic produce grown locally while it’s in-season can really bring down your grocery bill. A quick Google search can tell you what’s in season now in your area of the country.

Grow your own

If you have the time and space, consider growing your own organic greens and herbs. This way, you’ll have access to inexpensive produce that’s fresh and ready to eat.

Shop the farmers market

Your local farmers market is a great place to find fresh, locally grown produce at affordable prices. Plus, it supports local business.

Stalk your favorite organic brands on social media

Brands will alert followers to fantastic deals and discounts that may otherwise be missed. As soon as you find an organic food brand you love, follow it on Twitter, Facebook and Instagram. This way, you’ll never miss a sale.

Look for store brands

Lots of grocery stores now offer their own line of organic products. These tend to be cheaper than companies that are not affiliated with a specific store.

Shop smart

Finally, follow the basic rules for smart shopping to save on your purchases. Plan your menu around the sales, shop with a list and take a smaller cart, or even a basket. If all else fails, shop with cash.

Follow these tips to make the switch to an organic lifestyle without breaking the bank.

Travel Hacks 1 of 12: 5 Ways to Save on Airfare

Planning a trip overseas? Airfare will probably be your largest vacation expense. Fortunately, there are many ways to save on airfare to leave you with more to spend while at your destination. Here’s a list of five ways to save on airfare.

1. Be flexible with dates and destinations

If you’re willing to be flexible about the dates and destination, you can potentially save hundreds on your airline ticket. Instead of choosing a date and destination for your vacation and then searching for the best prices, select a date and destination based on the best available deals.

2. Shop smart online

Harness the power of technology to score the best airfare price. Searching sites and apps, like Expedia, Orbitz and Priceline, is like using multiple travel agencies to find the best flights for your vacation. Kayak, another popular travel app, plugs your preferred dates into its search engine and searches airline sites and agency sites to provide you with all the prices and options available.

3. Act quickly to snag mistake fares

When an airline accidentally discounts a ticket, you can snag a flight for as much as 90% off its conventional price. Mistake fares get snatched up fast, so check your favorite airlines and flight apps often so you don’t miss a deal.

4. Consider booking with a foreign currency

If you’ll be flying a foreign carrier, it may be cheaper to pay for your ticket with the local currency of your destination. Before paying for your flight, check to see if it’ll cost less if you don’t pay in dollars. It can sometimes actually cost more this way, but you can often save a lot by simply changing your location from the U.S. to your destination.

5. Book early

You’ll typically find the best deals on international flights 3-6 months before the departure date. If you’ll be traveling during peak times, like summer or during holiday seasons, start your ticket search even earlier. Flights are updated constantly, so check often to get the best deal.

Use the tips outlined here to get the best deal on your tickets and keep your vacation budget intact. Happy travels!

Last Minute Holiday Hacks

The holidays are nipping at your heels and there’s still a lot to do! It probably seems like your stress levels keep rising while the money in your wallet keeps dwindling. It doesn’t have to be this way. With a bit of planning and by following these holiday hacks, you can enjoy a stress-free and affordable holiday season. Not buying what we’re selling? Well, continue reading to find out how:

Clear the clutter for cash

Before the holidays, browse your closets for clothing in good condition you no longer wear. Sell these on resale sites like eBay and Craigslist. You’ll make room for any incoming gifts and give your holiday budget a little wiggle room at the same time.

Shop small businesses

Avoid crowds and enjoy a wider selection of gift items by shopping small businesses this holiday season. Independently owned stores are more likely to be fully stocked, even late in the season. As a bonus, you’re more likely to land unique gifts, and you’ll be helping local businesses stay afloat during these trying economic times.

Suggest a Secret Santa exchange

If the gift-shopping is getting to be a bit much, consider cutting back by suggesting a Secret Santa gift exchange. You’ll only need to buy one gift instead of one for everyone in an entire group, and the surprise factor makes it super-fun.

Round up your change

It’s never too late to start saving for the holidays! As you shop, use a money app like Acorn to round up your charge to the nearest dollar, and save the change in a specific account. Small change can add up quickly and help offset the amount you’ll need to come up with in your overall budget.

Delegate

If you’ll be hosting events this holiday season, delegate jobs to your guests. Everyone will appreciate the opportunity to pitch in, and it’ll be more helpful for you if you can assign specific jobs to each guest, instead of having three different people show up with apple pies.

Shop during non-peak hours

Peak business hours, which start in the early afternoon and run until evening, will have the biggest crowds and emptiest shelves. If you can get to the store early in the day, you’ll enjoy a full selection that you can peacefully browse before crowds show up. Stress-free shopping also means you’re more likely to make responsible spending decisions. Win-win!

Use the tips outlined here for a stress-free and budget-friendly pre-holiday season.