Holiday Planning 101: Make a Budget!

by Janice Forostiak, Marketing Department

It happened.

Somewhere between celebrating July 4th and chillin’ at the beach, the holidays came back. I witnessed it firsthand in the stores in early September and grimaced. (I mean, I’m pretty sure I JUST got the last of the snowmen put away before Memorial Day. . .) Decorating, shopping, parties . . . it’s a big drain on everyone’s wallet. . . are you feeling the stress?

Not to worry. Remember that it always gets done, and you’re ALWAYS “ready.” But maybe you don’t have to worry about the funds so much if you have a game plan. First, start with a budget. Do you have any funds from a Holiday Savings Club? It’s the best way we know to save regularly and have enough set aside each year. Click here for details.

If you have something really special planned, but don’t have the money, resist the temptation to splurge using high-rate credit cards, and apply instead for Signal Financial’s low 4.95% APR* Holiday Loan, and pay it off easily over 12 months! Click here to apply.

Next, make a holiday gift expense spreadsheet on a program like Excel. I know … it sounds so nerdy, but it really works. Plus, it’s all you’ll need to track your holiday expenses. If you have a smartphone, you can create your holiday expense spreadsheet in Google Docs™ and download Google Drive™ as an app so you’ve always got it with you.

When you shop, don’t forget to log gifts into your nifty spreadsheet so that you know what you’ve spent and who you have left on your list. (Have you ever opened your secret “holiday closet” and found you bought the same toy twice, and maybe even THREE times?? Guilty…)

Don’t forget to track the cost of your gift giving. The first column in your spreadsheet will include the name of everyone you need to buy for from your kids and spouse to grandparents, relatives, teachers, coaches, and babysitters. Don’t forget other holiday budget-busters, such as greeting cards, postage (Yikes! $50 to mail all my cards??! Hmmm…Did my kids REALLY change all that much since last year?), holiday clothing, office incidentals, travel expenses, your tree and other decorations, charitable giving, hostess gifts, entertainment, food for holiday entertaining, and so on. Whew!

Once you set your budget, start shopping! Our friends from Bankrate.com have a few tips for holiday money management:

Maximize your spending power!

1. Make a spending plan (That's the spreadsheet we made above!!)

2. Know your limits

3. Track your spending

4. Shop with a list

5. Shop early

6. Be an educated consumer

7. Load up your wallet with cash

8. Use credit judiciously

9. Beware of sales pitches

10 Car Maintenance Tips That Will Save You Money!

by Janice Forostiak, Marketing Department

I'm no expert at car maintenance. I rely on my better half to take care of the car calendar -- but admittedly, this is not the best strategy. So, I came across this list, and wanted to pass it along to our members and readers. If you learn one new thing, hopefully it will save you some $$! Here you go:

• Avoid paying for high octane gas as the benefit doesn't justify the cost.

• Inflate your tires to the level listed in your car's owner's manual, not the maximum listed on the tires. This will help you achieve better mileage and less wear.

• Have your fluid levels checked before every long drive.

• Thoroughly research online reviews of local mechanics to find the best.

• Get your tires rotated at least twice a year to make them last much longer.

• Install a vehicle service app for your mobile device to help you remember when to perform your maintenance.

• Avoid the rapid acceleration and abrupt braking of "jackrabbit" driving.
• Make sure your spare tire is present and in working shape to remove the need for a tow in the case of a flat tire.

• Consult with your trusted mechanic and your owner's manual about the appropriate mileage benchmarks for oil change. You may not need to do it every 3,000 miles. However, make sure it doesn’t void your warranty.

• Perform the easy task of changing your own air filter instead of paying a mechanic to do it.

From Dollars & Sense at www. Balancepro.net

7 Ways to Save Money BEFORE the Holidays!

by Janice Forostiak, Marketing Department

If you woke up after the holidays last year with an overspending hangover, or you’re wondering where you’ll get money for gifts this year, here are a few tips to help:

1. Stop Paying Uncle Sam to Hold Your Money. If you get a fat tax refund each April, you’re giving the U.S. government an interest-free loan. Stop that. Considering that the average refund is $3000, that money is returned to you without interest. So recalculate your W-4 exemptions, and make adjustments so that you can have the cash NOW, when you need it.

2. Clean House. Sell Stuff. Make $$.
Have a yard sale, sell your stuff on eBay, Craigslist or wherever you choose. You could earn hundreds or MORE! Remember that one person's junk is another's treasure.

3. Examine Your Phone Bills. Save $120 to $200 annually. Take a good look at your phone bill, or call the phone company to get a representative to go over the minutes and data you are paying for. If not, drop your plan down a level and put the money saved into your holiday fund.

4. Drop your landline: Save $400/year.
Are you ready to lose your landline and use your mobile instead?

5. Consider cancelling collision coverage on your old car. Save $$ by dropping the collision and comprehensive auto coverage, which pay to repair or replace a vehicle if it is stolen or vandalized or if you’re at fault in a collision. Do not cancel the liability portion of your policy!

6. Take a brown-bag lunch. If making lunches isn’t your thing, don’t worry. This isn’t a lifetime commitment. For a few months until the end of the year, cut out restaurant food and take your lunch to work. You might even grow to like the money you save . . . or the homemade food you eat!

7. Stop your expensive latte habit: Save as much as $330 per year! Those who regularly buy coffee spend an average of about $1,000 a year. That’s another $60-75 you could save by year’s end if you start right away. (OK, treat yourself to one Pumpkin Spice Latte per week....but after that, brew your own and doctor with flavored creamer.)

Finally -- be proactive and set up a Holiday Club account at your credit union! Commit a regular amount each payday and have it direct deposited right into your account. (You probably won't even miss the money that doesn't first have a chance to burn a hole in your pocket.) Click here for Holiday Club information.

Signal Financial also offers members the opportunity to apply for a low-rate Holiday Loan from November 1st thru January 31st (to take care of debt AFTER the holidays). Stay tuned for details!

For more ways to save, go to MoneyTalksNews.com