How does your January look after all the holiday celebrations, trips, inevitable & admittedly
super fun shopping both for yourself, and for the people you love? I mean financially.
I bet most of you are surprised I am asking such a question. 🙂 I wouldn’t blame you. The side of me I share a lot here is the girl who loves to dress up, find pretty things, and, talk a lot about style tips. Usually I encourage you to take care of yourself and have a great time with fashion regardless of age, body type, or say being a mom like myself.
I will continue all those with the hope that I may inspire you even just a little bit. I would like to share with you today though the other side of the medallion. While enjoying life the way I love, I also try my best to make financially smart, responsible decisions for my family. With planning that is. ( and will share how Capital One 360 Black Friday Deals may be a great start )
In my opinion some type of financial planning is beneficial for all income levels, and all sizes of households from singles to large families.
Now I need to put the disclaimer out there; this is not official financial advice. ( although during my MBA I did take many upper level finance classes, I never actually worked in the field) They are some tips that work for my family to avoid the dreaded financial hangover (however you define it for your situation) in the new year, while still managing to save for our kids college. You can fill in the blanks after the word “still” with whatever is relevant to your lifestyle. It could be saving for a house, car, or a trip. 🙂
SOME TIPS ON HOW TO KEEP ON TRACK WITH YOUR FINANCIAL GOALS/ BUDGET DURING THE BUSY HOLIDAY SEASON, AND BEYOND
- Take charge of day to day household expenses & budget. In our household I do this & because I want my hubby ( who does finance day in day out, and is a CPA ) to feel good about our decisions too, I consult him on big ticket items ( like a dishwasher for instance), and larger actual investments haha. Joking aside, me being responsible for making day to day decisions works great for us, as the mom I can set priorities as well as limits for the whole family.
- Get some kind of savings in order. It doesn’t matter if it is $5 monthly or $5000, it is always wise to set some money aside for emergency situations, future goals, or investments. Right now Capital One 360 has an amazing Black Friday Sale going on with deals on banking, brokerage and mortgage products. Totally cool! You can find the details below.
- Set a budget for your holiday shopping. Planning is BIG. I write down a specific gift list, set a budget, and usually shop online for them. I love to go to stores but when I want to stick to a budget online shopping is much more straightforward. Plus I don’t see a trillion cute things I can touch, and feel ( like a cashmere sweater 🙂 ) I just want to add on for myself.
- Save Big Being Informed About Sales. Cyber Monday is my day, but I continue this trend through out the year. I do like nice things but that doesn’t mean I won’t find the best deals on them. Even that designer handbag you want, or high end vacuum cleaner is on sale some time of the year.
- Spend Your Money on What Matters to You Instead of Random Stuff. For us its our kids education, their activities, family trips, our hobbies etc. For you it could be something totally different. Don’t buy something JUST BECAUSE it is a deal. This may sound contradictory with the above tip but actually it is not. It’s more about not making random decisions on something you’ll never use be it a product, or a service.
- Pay off credit card debts quickly. Sometime in our lives we’ve all (probably? ) have fallen into the credit card trap. (my college years come into mind LOL) Credit cards feel like free money, and suddenly buying 7 shoes at one time doesn’t look that crazy. Well it is, and no obviously it is not free money LOL far from it. Even the lowest interest rates are still $ taken away from your family, and financial goals.
- If you are saving for your kids college start early. The longer time you have to save for college gives you a headstart. Grants, and scholarships only cover about 1/3 of college costs, and large debts. Even parent/gov. loans leave your students with a large sum to pay back. Starting early ( even with a small amount) gives you more options.
- If you couldn’t start saving for your kids college early- still start when you can. Starting to save for college even for your high schooler will be helpful. Start the day you can whatever amount you can contribute.
Whether you are saving for your kids college, looking for a home loan, or simply a checking account, Capital One 360 has AMAZING black friday deals waiting to help you get started. For instance with savings deposits starting from $1000, they give a $100 bonus just for being a new customer, and opening up a 360 savings account. I say it is a great initiative to get you thinking about financial goals.
Some key features of Capital One 360
- Capital One 360 products are designed to save consumers time and money. From online to our mobile app, Capital One 360 is with customers 24/7.
- Capital One 360 Checking and 360 Savings are fee-free and earn interest.
- Capital One 360 offers remote deposit capture with Capital One 360’s CheckMate tool and make savings a snap with the Automatic Savings Plan.
In case you want to motivate your friends to take advantage of Capital One 360 deals, you can refer them to the sale, and be eligible for $40 referral bonus. They can then refer their friends, and a chain reaction of good financial decisions can start. 🙂
I would LOVE to hear what you do to avoid the new year financial hangover! Also do you save for your kids college or any other future goal?
Would love to hear your tips, and stories which I would update my list with.
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Have a wonderful Sunday lovelies, XOXO,
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I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.