Money Sense Tips

Holidays can prove to be very expensive, particularly if you have a large family. Not everyone is equipped with a hefty bank account or a Christmas bonus from their company. This is precisely why it is important to plan ahead for Christmas expenses and avoid starting out the New Year in debt.

* Many banks offer a Christmas savings account option. It is wise to open this account as early in the year as you can, giving you months to save up for Christmas. The bank will provide you with a book of stubs for depositing money into the savings account each week. Typically, the suggested amount is $20; however, you can put as little or as much into the account each week, depending upon what your budget allows for. The money will add up quickly over the months, giving you a nice lump sum at the end of the year to use for Christmas shopping.

* Take advantage of Black Friday sales. It can be challenging to do your shopping on Black Friday along with millions of other people, but it is not impossible. For the most success, map out a plan of stores that are having the best sales on the items that you need. In order to do this, you will have to peruse many flyers to find the best deal. Once you have established your plan, make sure you are up bright and early and ready to shop. Be sure to map out your stores as well, particularly if you have to drive from one store to the next.

* Avoid opening credit cards to pay for Christmas. No matter how tempting it may sound to pay for Christmas on credit, chances are you will be paying off one Christmas for several years. This can lead to the next Christmas being financed on credit as well. Before you know it, you are up to your ears in Christmas debts of several years in a row. Instead, put aside a little money each week, whether in a savings account or tucked away at home.

* Make out your Christmas lists in advance. This will aid in Black Friday shopping, if you choose to participate. One major benefit to making out your Christmas lists in advance is that you can buy the items throughout the year when there is a deal too good to pass up. Expanding your shopping over the course of a few months will prevent the crunch on your wallet come the months of November and December.

Having a nice Christmas with a tree full of presents is not only desirable, but it is possible as well. Budgeting accordingly throughout the year is the key to having a nice Christmas with nice gifts without ringing in the New Year with chains on your wallet.

Even if you braved the weather, the lines and the crowds on Black Friday or decided to skip this shopping day of insanity all together, more deals are headed your way the Monday after Thanksgiving, also known as Cyber Monday.

Hundreds of thousands of folks across the country will be on their laptops in their jammies, at their desk at work or sitting in their favorite coffee shop searching for those rock-bottom prices from the convenience of their computers.

Whether you are sitting comfortably at home or safely at work, don’t let a sense of security let you forget to protect yourself. What keeps you safe from hackers, unreliable websites or computer viruses–those grinches of the world wide web– out to steal all your holiday joy? How do you keep from getting ripped off while trying to score the best deals across the Internet for your holiday gift giving?

Here are five simple tips that might help you save yourself, your identity and your wallet from some of the evil traps set by Cyber Monday villains across the globe.

1. Make your computer a fortress – Get started on the right foot by having your computer ready to go with the most recent security updates, spam filters and spyware available. Avoid letting any unwanted visitors peak into your personal information by making sure you are well-protected even before you make a purchase.
2. Do your homework – Research products you intend to buy to make sure you are getting items with great reviews and at the best price. Some deals might just be too good to be true, and unknown brands or ones without reviews sometimes aren’t always the best way to go.
3. Keep your identity safe – Read the privacy policy before buying. According to the Better Business Bureau , if the site doesn’t have a privacy policy, it’s a warning that your info might be sold without your permission.
4. Pay attention – Even with other safety measures in place, don’t skimp on the times you read your credit card statement. Check often and make sure there are no suspicious charges or overcharges after you’ve made your final purchases.
5. File away for future reference – Those confirmation emails are not spam. Don’t delete! The numbers they contain will come in handy in case you don’t receive your order, get the wrong size or want to cancel your purchase. Keep the emails and keep your confirmation numbers oragnized just in case you run across any problems.