The period of time from mid-November to the end of December is a busy one for most households. These two months hold a number of holidays, meaning more shopping, gifts, groceries, cooking and overall hectic schedules.
All of this can result in more stress for you, which can be amplified if you are also stressing about money. Nearly 75 percent of American adults feel some financial stress according to a February 2015 from the American Psychological Association, so anything you can do to lower the amount of financial stress you feel is good for your health as well as your wallet.
In order to help, Peoples Bank & Trust has put together some ways to whip your finances into shape in preparation for the busy holiday season. Give them a try to be more organized and reduce your financial stress before the holidays
- Use technology to your advantage
Online Banking and Mobile Banking each give you the ability to view account balances, transfer money and know exactly where you stand with your finances. You can also make direct person-to-person payments with POP Money.
- Remind yourself
Yes, there are a lot of costs involved with the holiday season. However, now is not the time to miss a credit card or loan payment. Set reminders on your phone, circle dates on your calendars or post sticky notes on your mirror to keep yourself on track.
- Pay down your credit cards as much as possible
This helps in two ways. First, it reduces the amount of interest you are paying and helps to prevent fees for overdue balances. Second, it allows you more space within your credit limit should you need it during the holidays.
- Take a look at your credit report
This can also help you understand what your credit situation is and how much you should use your credit card during the holidays. It is also a good opportunity to fix any errors with your credit report.
How can all of these things help with the holidays? Instead of being stressed about money, you can focus more on the spirit of the season and spending time with your family and friends.
If there is any way Peoples Bank & Trust can help make your holidays more enjoyable, feel free to let us know!
Peoples Bank & Trust Co.
Equal Housing Lender
Member FDIC