#43. The Federal Reserve supervises and regulates banking institutions to make sure they are safe places for people to keep their money and to protect consumers’ credit rights.
Smart Shopping Tips for the Holiday Season
The holiday season is coming soon and while it’s a time full of joy and celebration, it can also be a period of financial stress if you're not careful. Here are some easy-to-understand tips to help you navigate the holiday shopping season without breaking the bank.
- Set a Budget. Having a budget helps you prioritize who you want to buy for and how much you can afford to spend on each person. This could be based on your savings, allowances, or earnings from a job. As you shop, keep track of what you spend. You can use a notes app on your phone, a budgeting app, or simply jot it down on paper.
- Make a List. Create a list of people you want to buy gifts for and ideas for their gifts. This helps you stay focused and prevents you from impulse buying. Having a set plan will help reduce unnecessary spending.
- Do Your Research. Many retailers offer holiday sales starting as early as October, so be sure to compare prices at different stores or websites to find the best deal. Websites like Honey or RetailMeNot can help you find promo codes and deals for additional savings. Be sure to also look at the product reviews – sometimes a great deal can lead to purchasing a not-so-great product. Stick to trusted websites and be wary of deals that seem too good to be true.
- Use Cash or a Prepaid Card. It’s easy to lose track of spending, especially with credit and debit cards. Consider taking out cash for your shopping trip or using a prepaid card with a set limit. This can help you be more intentional with your shopping which makes it easier to stick to your budget.
- Know the Return Policy. Before making a purchase, check the store’s return policy. Some stores may have specific return deadlines around the holidays, so understanding the policies can save you a lot of hassle if a gift needs to be returned.
The holiday season can be both fun and financially overwhelming, but with these smart shopping tips, you’ll be able to navigate it with confidence. Happy shopping, and may your holidays be merry and bright!
