Handle your holiday budget: Spending tips from Fifth Third

fifth-third bank holiday spending

GRAND RAPIDS, Mich (WOTV) – The holidays can bring on stress. Take the stress out of your wallet with some effective planning. Scott from Fifth Third Bank joined Maranda to talk about spending smart over the holidays. It may seem early to talk Christmas shopping, but, financially speaking, now is the time to think about it. Scott gives tips about how you can make holiday spending less stressful. One important tip is to start with a budget in mind. Setting a budget is the best way to set yourself up for success. Knowing where your money goes is important.

Tips to sticking to your budget:

  • Start by actually creating a budget
  • Decide who you’re buying for
  • Don’t forget to account for miscellaneous spending (stocking stuffers, white elephant gifts, gifts spent for Christmas parties, etc.)
  • Be flexible

Cash vs. Card:

  • Pro for cash: Harder to go over budget
  • Con for cash: If you lose it, it’s gone
  • Pro for card: Zero liability if lost
  • Con for card: Less control on spending and whether or not you can pay it back

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