Seasonal Budgeting Ideas
Busy, costly seasons or seasons of reduced income can lead to financial anxiety – but they don’t need to. Smart financial strategies can help to make your toughest season’s budget more manageable and keep your money in check.
Tailor your budget.
In addition to your standard expenses such as rent or mortgage, utility bills, or subscriptions, what seasonal expenses are you expecting? Write them down in an itemized list and consider any opportunities to reduce costs or eliminate unnecessary purchases. Once you have a firm budget, make sure you stick to it and plan the savings you need to cover those costs. Our printable budgeting worksheets can help.
Save year-round.
We have a variety of certificate terms and special savings accounts that are great for supporting seasonal budgets. Open a share or certificate that fits your plan and make weekly or monthly deposits to it throughout the year.
For example: If December is an annual challenge, you could open a Lucky Savers 12-Month Share Certificate around Thanksgiving to support your holidays the following year. Not only would your additional deposits be building up savings and earning dividends at a great rate, but your deposits can also earn chances to win cash prizes up to $5,000. For each deposit to the Lucky Savers of $25 per month, you’ll get an entry into the monthly and quarterly drawings – up to 10 entries per month. The next Thanksgiving, your savings – and possibly winnings, too – will be available to support your December budget!
Shop early.
For purchases you could make early, such as gifts, non-perishable foods, and supplies, put them on your shopping list months in advance. By waiting until the last minute, you could miss out on coupons, sales, and other deals. Plus, anything you buy early can save you time and stress by removing those purchases from your seasonal errands.
Cash in your cash back.
Credit cards can have their perks. If you’re earning rewards like cash back, explore the ways they could support your seasonal budget. Here are some ideas:
- Budget for holiday gifts based on your cash back total
- Use your rewards or cash back to get gift cards
- Save your cash back until you need to cover unexpected expenses
- Redeem your cash back to fund a “Self-Care Day”
You could even rack up your seasonal expenses on your credit card and redeem them afterward as a fun reward for getting through the season! Learn more about Visions credit cards.
Skip a payment (if you're eligible).
When you have eligible Visions loans, you could qualify to skip a month of loan payments – with Skip a Pay! Visit your local branch or call 800.242.2120 to find out if you’re eligible, then complete the Skip a Pay form to enjoy the extra space in your budget.
Phone a friend!
The more you can plan ahead and stick to your budget, the more you can breathe easily as the season comes to a close. For support on that financial journey, we’re here to help!
For tips and tricks, detailed budgeting review, or simply a second opinion, you can tap into our accredited financial counselors. We offer free, confidential financial wellness counseling. You can make an appointment to explore your financial options one-on-one, with a spouse, with parents or children, or even as a group seminar on holiday savings!
Consider scheduling a free financial counseling session to explore your financial strategies. To get started, email our Financial Wellness team at education@visionsfcu.org.
Learn more about free counseling
Print our budgeting worksheets
Explore more budgeting tips and resources online
This article first appeared in MoneyMatters Magazine. Click here to continue reading our current publication.
