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Contacts: Patricia
Briotta
703-842-2820
pbriotta@nafcu.org
FOR IMMEDIATE
RELEASE
November 20, 2009
NAFCU Offers Tips to Avoid Holiday
Budget Hangover
WASHINGTON — With the holidays around the corner,
the National Association of Federal Credit Unions (www.nafcu.org) is offering these tips
to help folks avoid the holiday budget hangover.
Create a budget –
Create your gift list and determine how much you can spend on each
person. Set a budget among family and friends or maybe establish a
gift exchange program.
Give Gifts that Keep On Giving –
This year, consider opening a Christmas club or savings account for
a family member. It would be a great way to help build a rainy day
fund or savings for next year’s holidays. At
some credit unions, you can open an account for as little as $5.
Check out which credit unions you are eligible to join at www.CULookup.com.
Use All Your Resources –
Credit cards from credit unions have been hailed by many, including
Consumer Reports, as great deals for their low interest rates. Some
offer credit cards that have reward programs where you can trade
miles for merchandise. Still other credit union credit cards give
you discounts for purchases at certain retailers. Leverage these
opportunities and realize some great savings. You can compare rates
between credit unions and banks at www.nafcu.org/dailyrates.
Shop Smart –These are the times that identity
thieves aim to snatch your valuable information. Protect your access
numbers and your credit card information at the stores. Don’t
respond to unsolicited emails and make sure the sites where you are
entering your information are secure and the padlock symbol is
visible.
Use Coupons and Comparison Shop –Today, just about
every retailer is running specials or offering coupons. It pays to
do some research and find the best prices for your holiday
items.
Be
Creative – Maybe this is the year you give
everyone on your list a DVD of a favorite movie. If you buy in bulk,
some retailers offer discounts, so don’t be afraid to ask for them.
You might also make a charitable donation on someone’s behalf.
Avoid Impulse Buys –
Do not be beguiled by sale items. Stick to your list and budget.
After the holidays, you will be happy you did not overspend. If you
should need help with your finances, your credit union may offer
free financial literacy classes that will get you back on track.
NAFCU is the only
national organization that focuses exclusively on federal issues
affecting credit unions, representing its members before the federal
government and the public. For more information, visit www.nafcu.org.
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