Smarter Shopping this Holiday Season

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Saving bit by bit throughout the year so you can splurge on gifts for the whole family or travel home for the holidays is always a great idea, but not always realistic.

If you plan to use credit cards, there are some benefits of doing so, such as additional fraud protection and extended warranties that will come in handy with larger items or electronics. Plus, some credit card companies have rewards for using your card. BancorpSouth offers credit card rewards that can be used for gift cards, air travel, resorts and more, which can come in handy at any time!

It's the thought that counts

Before you buy any gifts, examine the real reason for your giving. Is it merely to outdo another or to reciprocate a gift that was given in a certain price range? Remember, love has no sticker price, and as cliché as it sounds, it really is the thought that counts. Don’t spend beyond your means out of a false sense of obligation or a desire to impress; it’s simply not worth it.

Be realistic with children’s expectations

As a parent, it can be difficult to temper the wants of children. Consider creating a budget for each child, and then discipline yourself to stick to it. Utilize the holiday season to teach your children a lesson about the true meaning behind giving— the thoughtfulness behind gifts matters more than their material value.

Track your spending

After each holiday season, you should track exactly how much you spent. That way, you can prepare more effectively for next year’s gift giving and/or travel arrangements.

If you’re in a situation where you may have overspent and you want to eliminate your holiday debt quickly, talk to one of our loan officers to apply for a consolidation loan or an equity line of credit. You can consolidate your payments to one monthly payment for a specified period of time.