Holiday spending can easily spin out of control, so don't let a happy time of year return to a regretful one.
While it can feel great to give, it’s important to know what you can afford so you’re not stuck paying for this year’s gifts – and the interest charges – well into next year.
So how can you keep from overspending?
Set a budget and stick to it. Keep all your normal expenses in mind – such as food, utilities, other regular monthly payments – then set an affordable holiday spending limit. And don’t blow that budget!
Make a list and check it twice. Who do you want to buy gifts for? Write down ideas for each person and think about prices. Can you afford it? A focused list can keep you from buying expensive last-minute panic items. Trim people from the list or change what you want to buy if your budget gets in trouble.
Comparison shop and search for deals. Don’t buy something just because it’s on sale the first place you look. Do some research to see what prices are at various local or online stores. Spending a little time looking for the right offer can lead to big savings.
Be careful with your cards. Debit and credit cards are safer than carrying large amounts of cash and they have some great built-in consumer protections, but you’ll want to make sure you don’t get carried away. Overspending on your debit card can lead to overdraft fees, and overcharging on a credit card can lead to months of payments and interest charges.
You can easily monitor and manage your Fidelity Bank Visa® Debit Card with Card Manager. To access the features, simply select “Quick Links” from the main menu of the Fidelity Mobile Banking App, then tap “My Cards”.
Consider gift cards. Opting to purchase gift cards can help you better focus on your actual spending, and even ease needless anxiety about buying the wrong gift.
Now is also the time to begin making it easier for next year. You can start by putting money into your savings or checking account regularly. That way, when next year rolls around, you'll be all set to give without feeling the pinch.
About Fidelity Bank Fidelity Bank has built a strong history as a trusted financial advisor and continues its mission of exceeding client expectations through a unique banking experience. It operates full-service offices throughout Lackawanna, Luzerne, Lehigh, and Northampton Counties, along with a limited production commercial office in Luzerne County and a Fidelity Bank Wealth Management Office in Schuylkill County. Fidelity Bank provides a digital banking experience online at www.bankatfidelity.com, through the Fidelity Mobile Banking app, and in the Client Care Center at 1-800-388-4380. Part of the Company’s vision is to serve as the best bank for the community, which was accomplished by having provided over 4,100 hours of volunteer time and over $1.7 million in donations to non-profit organizations directly within the markets served throughout 2022. Fidelity Bank’s deposits are insured by the Federal Deposit Insurance Corporation up to the full extent permitted by law.
