Budgeting Tips Going Into The Holiday Season By Foundation Credit Union in Springfield, Mo

The journey to financial freedom is long and grueling. Whether you have a mortgage, student loans, personal loans, medical bills, or a mix of it all, you’re not alone! Our team at Foundation CU in Springfield, Mo understands this, and we’re here to help with our top budgeting tips for money management. In today’s blog, we’ll specifically focus on maximizing money management during the holiday season. 


Save The Extra Cents

Pennies on the dollar is a real concept now that there are apps to help with money management. There are various apps on the market that will take the leftover pennies in your account and transfer them to either a savings account or invest them in penny stocks that can easily be cashed out. 

Apps like Acorns focus more on transferring pennies into an investment account, whereas apps like Chime focus more on helping to save those pennies within a personal savings account. 


Create A Spending Plan

A spending plan is similar to a budget, but it’s more involved. Spending plans allow you to link external apps to your account that notify you when you are getting close to your capped amount for a specific activity for the month. 

A great example of an app that does this is Mint. Mint allows you to link student loan accounts, bank accounts, credit card accounts, anything that could tie up your money. What it then does is craft a spending plan based on your monthly income and expenses. 

You decide the allotment for each category, and then mint will cap your card when you get close. Mint will also track your spending patterns through their analytics, and send you updates. 


Focus On The Power Of Togetherness Over Things

More than anything, the best way to manage a budget is to value time and togetherness over spending money on things and experiences. It might be an old-school way to think, but it really makes a difference when your budget is strapped.

By showing loved ones you value them through a handwritten card, or allotting time you wouldn’t normally get to spend with them, you are showing your love for them. 

In a society that is used to quickly going from one person or moment to the next, that kind of gesture might make all the difference in the world. 


Foundation CU Cares About Your Spending Habits

Our team at Foundation CU cares about your financial journey and peace of mind. If you’re seeking additional budgeting tips or information on how to become a member of our credit union, we’d love to hear from you. Reach out to us online to complete our member application, or give us a call at (417) 895-2772.


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