Arvest Bank Offers Tips for Holiday Shopping Success
As November ushers in the official holiday shopping season, Arvest Bank is sharing valuable tips to help shoppers make the most out of their shopping budgets. With the National Retail Federation expecting holiday spending to reach nearly $989 billion this year, it’s important for consumers to be mindful of their finances during this festive time.
According to a recent holiday spending report from NerdWallet, 28% of holiday shoppers who used credit cards last year are still paying off those purchases. This highlights the importance of creating a budget and sticking to it to avoid overspending and unnecessary stress during the holidays.
Jeannette Pham, Sales Coordinator with Arvest Bank – Fort Smith Region, emphasizes the importance of creating a budget per person when shopping for gifts. By setting a budget for each individual on your list, you can ensure that you stay within your overall budget while still being able to give thoughtful gifts.
Pham also advises shoppers to start shopping early to take advantage of deals and avoid potential shipping delays. Many retailers offer sales leading up to Black Friday and the holidays, so keeping an eye out for these sales can help you save money on your purchases.
In addition, Pham recommends comparing prices before making a final purchase to ensure you’re getting the best deal possible. Online retailers often have price comparison tools to help you find the lowest price, and asking for a price match can also help you save money.
To avoid overspending, Pham suggests taking a break if you start browsing for yourself while shopping for others. It’s important to stick to your list and avoid impulse purchases to stay within your budget.
Lastly, Pham advises shoppers to stay alert for fraud by monitoring their purchases frequently and only using secure websites when shopping online. Using a credit card instead of a debit card can also provide an added layer of protection, and setting up alerts for your credit card purchases can help you stay on top of your spending.
Overall, by following these tips from Arvest Bank, shoppers can make the most out of their holiday shopping budgets and avoid unnecessary stress during the festive season. It’s never too early to start planning for next year, so setting up a recurring transfer from your checking account to your savings account can help you save for future holiday expenses.