Panic-Free Ways to Pay for Christmas This Year (and Next)

Christmas has a way of surprising us, creeping up on the calendar in a way that leaves us stammering, “It can’t already be here. I feel like it was just Halloween!” 

Shortly thereafter, another reaction—this one fueled by pure panic—takes over: “How am I going to pay for presents?!” 

Other expenses come to mind, too: Higher heating bills that come with the arrival of winter. The annual trip “over the river and through the woods” and possibly across the country to grandmother’s house for the family get-together. 

If your pocketbook is recoiling at thoughts like these, know there are panic-free ways to prepare for the expenses associated with the holidays.

1. Look to your budget to free up money

   Are you able to set aside less for savings in December and resume saving as you did before in January? Are there expenditures that can be eliminated altogether?
   
   

2. Consider opting for homemade Christmas presents.

   As supply chain problems threaten to cause delays in shipping this season, making gifts for friends and family is a guaranteed and heartfelt way to ensure that you have presents for the people you care about.
   
   

3. Thrift your way to a happy holiday.

   Who says presents need to be new? Thrift stores contain a multitude of treasures to be discovered and given as gifts.
   
   

4. Consider applying for a holiday loan.

   If this option interests you, we can help you out. From November 1st through December 31st, you can borrow anywhere from $250 to $1500 from us with no pre-payment penalties, no matter what your credit score is. The first payment is due January 31, 2022, and the rest can be paid off over the next 12 months. 

Once you decide on a strategy for putting your panic in its place this year, prevent it from arising again next year by planning ahead. Adding a line item to your budget for Christmas savings may be a good solution. If you want our help, you can open a Christmas Club account with us. If you deposit $10 in your account each week for a year, you’ll amass $520 for Christmas in 2022. 

Let us know if you need our assistance as you approach this year’s holiday finances. Keep your eyes peeled in January and February, too, for promotional rates that may help you pay down excess expenditures from this season. We are here to help, and we are so happy to have you as members of our credit union family. Happy holidays to you and yours!

Prepare for the holidays the panic-free way this year—and next year, too—with these financial strategies from Millstream Area Credit Union today.