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8 Ways To Beat Holiday Stress

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‘Tisgirl sitting in front of fireplace looking stressed the season to be merry-except sometimes, it’s not.

While the entertainment industry would have us think the holidays are always full of good cheer, lots of laughs and warm feelings, the reality can, unfortunately, be otherwise.

Sometimes, all that frenzied consumerism, party-hopping and crazy schedules can bring out the worst in the people we love. Other times, a challenging life situation, such as a recent divorce, death in the family or financial struggles, are painfully magnified when everyone around you seems to be in such wonderfully high spirits.

No one wants to be the Grinch on Christmas. So, if you tend to feel stressed or down when the holidays roll around, here are eight tips to help you turn that frown into a genuine smile.

1. Watch the buck

Nothing kills the holiday cheer like a mountain of debt. Stick to a budget when doing your holiday shopping and only spend what you can actually afford. Be extra careful not to overspend as the holidays draw near, and you’re experiencing pressure to finish your shopping in time. If you find yourself running low on funds, consider arranging a gift exchange, like a Secret Santa, or giving some homemade presents this year.

2. Give back

The holidays can sometimes leave us feeling down because of all that emphasis on the perfect gifts. Opening up a present is always a thrill, but giving to others creates lasting joy. In fact, according to the American Psychological Association, one of the best ways to reduce stress is to give back to your community.

Beat the stress this season by sharing holiday cheer with those who are less fortunate. There are so many ways to spread joy! You can bring some toys to the children’s ward at the local hospital to brighten up a sick child’s holiday. Use your time off from work to volunteer at a soup kitchen. Dress up your family in their ugliest Christmas sweaters and holiday hats before visiting the closest nursing home to put a smile on the residents’ faces.

When you give, you always give most to yourself.

3. Stick to a schedule

Part of the holiday experience is enjoying late nights and/or early mornings. Sometimes, though, all that lazing around and lack of quality sleep can make stress levels soar. There’s no need to be a stickler for your regular routine on the holidays, but it’s a good idea to keep some sort of schedule. Make sure you’re getting enough shut-eye, and if a physical workout is part of your daily routine, don’t neglect it over the holidays. You’ll always feel better when you’re taking care of your body. And, if you’re mindful about your habits, you may not even have those extra pounds to work off in January!

4. Party smart

Cheers! Can I pour you another glass of … soda?

If you like to party, you can end up getting sick over the holidays. All that heavy drinking and loading up on refined carbs can really do your body in. Do yourself a favor this year and watch what you imbibe. Enjoy a glass or two of your favorite alcoholic beverage, but try to keep the drinking to a minimum. Similarly, it’s OK to break your diet over Christmas, but it’s best not to go overboard. You don’t need to feel bloated and sick to enjoy the holidays. Keep the stress out by treating your body well.

5. Delegate

Are you hosting a crowd this Christmas? Guests can be great fun, but all the extra work can bring your stress levels through the roof. Here’s the good news: You don’t have to do it all! There’s nothing wrong and there’s everything right with asking for help. Don’t feel bad about having your guests and family members pitch in with cooking and cleaning. They’ll feel better, too, when they’re sharing the workload. Plus, everything is easier when there are more hands on deck.

6. Take some “me” time

Whether you’re a closet introvert or you just need some time alone each day, the nonstop partying and a house full of guests can get to you after a while. It’s always a good idea to take care of yourself, and in the chaos of the holidays this need is often neglected. Consider running out to get yourself a manicure, taking a solitary half-hour walk or just locking yourself in your room after a long and loud day to savor the peace and quiet. You’re not being an antisocial snob if you need your “me” time; you’re just being human.

7. Give up the guilt

If you tend to over-analyze every interaction you have with family and friends, you can really beat yourself up over the holidays questioning everything you’ve said. Try to relax and to let go this season. So long as you’re reasonably pleasant and agreeable, you can give yourself a break.

8. Lower your expectations

A common cause for holiday stress is unrealistic expectations. It’s best not to build huge castles in the air by keeping your expectations to a minimum. There will probably be some minor, or even major, stressors this holiday, and not everything will turn out exactly as planned. All of that is OK. If you don’t expect perfection, you won’t be struggling with mountains of disappointment this holiday.

Beat the blues and put the cheer back into the holidays this year!

Here’s wishing you Happy Holidays from all of us here at Destinations Credit Union.

Your Turn: How do you beat the holiday stress? Share your best tips with us in the comments.

Sources:
https://www.psychologytoday.com/us/blog/life-without-anxiety/201212/10-tips-surviving-the-holidays
https://www.symptomfind.com/health/holiday-stress-management/
https://www.huffpost.com/entry/holiday-stress-tips_b_790222
https://www.apa.org/helpcenter/parents-holiday

Gift Giving on a Budget

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This article is courtesy of Faye Griffiths-Smith of UConn Extension, a nonprofit coordinator of 

wooden boards with holiday decorations and the word Save

Connecticut Saves.

As the holiday season approaches, do you find yourself looking forward to the festivities, but concerned about the impact on your wallet? You are not alone. By doing some planning now, you can simplify your gift giving. Here are ten ways you can enjoy this special time of year and keep spending in check:

  1. Food. Consumable items are very popular during the holidays. The recipients may enjoy the product themselves or share it with others when entertaining. Consider special breads, beverages, fruit baskets, snack items, regional favorites, and gourmet coffees and teas.
  2. Go green. Find locally grown plants, flowers, and dried wreaths. Another option might be to purchase colorful washable napkins, placemats, dishcloths, reusable bags, and lunch bags with individual containers for sandwiches and snacks.
  3. Set limits. This could be done by establishing a dollar amount per gift, completing your shopping in only one or two trips, purchasing one gift per family, or committing to doing all your shopping locally.
  4. Made by you. Make your own food specialty. Knit a scarf. Hand craft an item. Create an annual holiday ornament. Give a framed photo.
  5. Hobby-related gift or gift certificates. Consider the recipient’s hobbies and interests. Are there gardeners, chefs, woodworkers, knitters, readers and gamers on your list? Gift accordingly by providing them with the tools or materials to do what they enjoy.
  6. Agree on a gift challenge. Discuss this idea well in advance of the holidays with those whom you regularly exchange gifts, but make it fun. You might suggest handmade items only, gifts under $10, one gift for a whole family, limit shopping to consignment or thrift store finds or pick a theme such as useful or consumable items only.
  7. Purchase the same type of gift for everyone. It could be umbrellas, scarfs, journals, board games, puzzles, nice pens, throws, books, or flashlights and batteries.
  8. Recipe Book. You could make up a recipe book with family favorites or provide a blank recipe book for the great cooks in your life.
  9. Coupons for your services. Offer your time and abilities. You can create coupons related to your skills. Perhaps it is cooking a favorite meal, snow shoveling, home repair or an oil change, mending, guitar lessons and so on.
  10. Create a special memory. Look in newspapers or online for special events this holiday that are free or low cost. Instead of purchasing gifts, make a date with your family and friends to enjoy an event together and get together for desserts and coffee.

Most importantly: enjoy your holidays!

 

7 Questions To Ask Yourself Before Making A Large Purchase

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You’re convinced: You really want that Coach handbag. Or you need that genuine ArmaniFamily carrying large box into home tie. Or maybe you know that gigantic, high-res entertainment center will transform your weekends. So you swipe your card and the dream item becomes yours. Of course, you’re absolutely thrilled.

That’s until, a few weeks down the line, when you’re staring a huge credit card bill in the face and buyer’s remorse hits hard. You can’t help wondering, then, why you thought this expensive purchase was worth the steep price tag.

Don’t get sucked in again! Before you say “yes” to a large purchase, ask yourself these 7 hard-hitting questions. You just may end up leaving that “dream” product in the store.

Do I have cash to pay for this item?

This is the number-one question to ask when you want to determine if you can really afford a purchase. If you’ve got money socked away in long-term savings, it won’t help much. You need to have it available now.

You might have been trimming your budget just a little bit each month to pay for this item, or maybe you’re using a surprise work bonus. Either way, make sure you have liquid funds that can cover the cost of your item. Putting it on credit means you can’t really afford it, and you’ll be hiking up the price once interest is tacked on. Plus, you’re now going to be reminded of the purchase you may come to regret for a long time to come.

Is this the best price I can get for this item?

When making a large purchase – and what constitutes “large” will vary with individual budgets – it’s important to comparison-shop before plunking down your money. Check several online listings and hit some brick-and-mortar shops to find the lowest selling price. Visit CouponCabin.com, RetailMeNot.com and similar sites to look for available coupons and discounts. Spend some time researching the best season for purchasing that particular item so you’re not buying it just weeks before it goes on sale. Finally, consider buying your item previously owned for steep savings.

Don’t spend any more money than you absolutely must.

How many hours of work will you need to do to pay for this purchase?

Nutritionists famously warn their clients that the calories in a single donut will take a 45-minute workout to burn off. This exercise helps dieters decide if that small indulgence is really worth the price.

Adapting a similar approach to your finances will help you make the best choices. Calculate the total amount of hours you’ll need to work to pay for this “must-have” item. Then ask if it is really worth the price.

How else can I spend this money?

Think about the money you’re about to spend on this item. What else can that money buy? Can it pay for a few weeks of groceries? Would it go further on vacation, where it can fund a priceless trip filled with memories that will last your lifetime? It might even be enough to sponsor your child’s wardrobe for the season!

Take some time to think of other ways you can spend this money before making your final decision.

Have you splurged on any other large purchases recently?

If you can afford it, there’s nothing wrong with an occasional pricey indulgence, even if you don’t absolutely need it. But when luxury purchases become a habit, it can spell disaster for your finances. Your standard of living will rise to match your choices and you might soon find yourself spending enough to go into long-term debt.

When was the last time you bought something this expensive? If you’ve been super-careful with your spending for awhile, and you can afford this purchase, go ahead and enjoy! But, if you picked up a designer handbag just last week, you might want to wait a bit before buying the one that’s caught your eye today.

How often will I use this item?

Yes, the item seems absolutely essential today, but looking forward, how often do you think you’ll really use it? If you can see yourself growing tired of it quickly, or only using this purchase several times a year, you might want to re-think your decision.

How much will this money be worth if I put it into savings?

Even if you do have funds put aside for this purchase, you might find that you don’t want it that badly once you calculate how much this money can earn you over time. Check out this investment calculator to get that magic number. The results might leave you pleasantly surprised.

Here at Destinations Credit Union, we have several types of long-term savings accounts that can really help your money grow. Give us a call or stop by, and we’ll help you choose one that’s perfect for you!

Your Turn: What’s your number one question before making a large purchase? Share it with us in the comments!

SOURCES:
https://www.frugalrules.com/questions-to-ask-before-a-large-purchase/
https://www.makingsenseofcents.com/2016/08/what-to-do-before-a-large-purchase.html
https://www.thebalance.com/before-you-make-large-purchases-2385817|
https://www.google.com/amp/s/amp.businessinsider.com/sc/things-to-consider-before-major-purchase-2016-10

How To Use The Money Envelope System

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If you’re like many of us, you’ve been trying to stick to a budget for a while, but by the man putting money in envelopetime each month is over, you’ve busted your budget – again.

Because of this recurring pattern, you’re probably wondering if there’s a better way. Fortunately, the answer is yes!

The money envelope system has been around for years, and it’s an incredibly motivating and powerful way to keep spending in check.

Destinations Credit Union is proud to bring you this handy guide to understanding and implementing the money envelope system in your household.

Note: If you already have a workable monthly budget, you can skip to step 2.

1. Determine your monthly income and expenses

For the next few months, track all of your expenses. Hold onto every receipt or record each purchase you make, being sure to indicate which category of expense it falls under. Hold onto every pay stub, too. When a three-month period has passed, you’ll sit down to figure out exactly how much discretionary income you’re left with each month. This will not include fixed amounts, like insurance premiums, mortgage payments, savings and investments.

2. Create a budget for every expense category

Now, divide your discretionary income into different categories. The categories you need and the amounts you’ll set aside for each will depend on your individual lifestyle and habits, but you’ll likely need categories for food, gas, entertainment, transportation and clothing costs.

Review the way you’ve been spending your money in the last few months for an idea of how much you’ll need to set aside for each category. If you see you’ve been overspending in a certain area, this is a great time to resolve to cut back.

3. Create your envelopes

This is where the money envelope system differs from a regular budget. Instead of having money set aside for each category in your head, or even scribbled on a paper somewhere, take one envelope for each expense category and mark it clearly. Now, put the exact amount of cash for this month in the envelope for each category.

Do this with every expense category, and voila! You’ve created your new budgeting system!

4. Stick to your budget

As in any budget, following through on a plan is the hardest part. With the envelope system though, it’s a whole lot easier.

Say you need to make a grocery run. You’ll peek inside your “groceries” envelope, take note of how much cash is inside, and figure out how much you can afford to spend. Take that amount of money to the store with you, and only use that cash. No cheating! There’s absolutely no card-swiping allowed and no sneaking money from another envelope to beef up a skimpy cash supply in another. You need to work with what you have.

Instead of walking out of the store with a dozen items in hand that weren’t on your list, you’ll be forced to stick to your budget. And, if you find yourself running low on grocery money one month, you’ll have to make do. You can take the pantry challenge and dream up a menu created around the ingredients you have on hand, or you can shop the sales and cook according to what’s cheapest this week.

Do whatever it takes – but no cheating!

5. Reward yourself!

If you find yourself with extra money in any category at the end of the month, it’s OK to celebrate. Dave Ramsey recommends rewarding yourself with a dinner out or an expensive drink. Alternatively, you can treat that money as “rollover cash” and use it to enjoy a roomier budget next month.

Tips and tricks

Here are some variations and different approaches to this ingenious system:

  • Use a small accordion file folder instead of individual envelopes. It’ll be easier to keep track of your envelopes when they’re all in one place, and it’s sturdier than paper envelopes.
  • Go cashless! Love the idea but hate the thought of only using cash? You can still use the envelope system with some minor adjustments. There are apps designed to create virtual envelopes for you to use, such as Mvelopes. You can also use a cost-free budgeting app that allows you to divide and track your spending into different categories, such as Mint, Quicken and Monefy.
  • Trim your fixed expenses. If you’re finding it difficult to stick to your self-created budget, try to cut back on your non-discretionary spending. Search for a cheaper auto insurance plan. Ditch your cable. Find ways to trim your electric bill and gas expenses. Use the money you save to add to the envelopes that never seem to have enough to get you through the month.
  • Create an emergency envelope. Set aside $20 or $50 to use in case another envelope runs out of money.
  • Use Destinations Credit Union “You Name It” accounts as your envelope for larger expenses, like emergency savings, gift-giving or vacations.

Congratulations! You’ve got the money envelope system down pat! Here’s hoping it helps you on your journey toward financial wellness.

Your Turn: Have you tried the money envelope system? Has it worked for you? Why, or why not?

SOURCES:
https://www.moneycrashers.com/envelope-budgeting-system/  
https://www.daveramsey.com/blog/envelope-system-explained  
https://www.thebalance.com/how-to-budget-using-the-envelope-system-1389001  
https://www.pennypinchinmom.com/cashless-cash-envelope-system/  

Mistakes First-Time Homeowners Make

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Q: My husband and I have been renting an apartment since we got married. We recently

piggy bank next to money tree

Piggy bank and money plant. 3D modeling and rendering

decided to buy our first home. Some friends of ours had lots of trouble with the process, and wound up buying a house they can’t really afford. We don’t want to go through what they did. What can we do to buy our dream home without all that grief?

A: Buying a house is one of the biggest decisions you will ever make. It’s great that you and your husband are planning ahead for this important milestone. These are common mistakes that first-time homeowners make–and how to avoid them.

1.) Not Knowing Your Housing Budget

The term “house poor” is an apt one for the many people who buy a house that is costing them more than their income allows. It’s uncomfortable to be in this situation, so you’ll want to avoid buying out of your financial comfort zone.

You sound like planners, so you probably already have a budget and some idea of your expenses for running your current household. Now is the time to review that budget. Some of your expenses are going to increase in a new home – utilities, for instance. If you’re moving from an apartment to a larger home, that can cost much more.

Some of the other budget items may change, too. Renter’s insurance and laundromat costs may drop off the list. Add up all your expenses, but leave out rent or mortgage payments. When you subtract the total of this list from your take-home pay, you will have a pretty good idea of how much you have left for mortgage payments. Find a mortgage calculator online and use it to calculate mortgage payments based on various interest rates. Generally, housing costs should be 30 percent or less of your before-tax income.

2.) Looking Outside Your Housing Budget

There is nothing worse than finding your dream home only to realize that it’s way out of your reach. It’s a common mistake to look at properties that are too expensive for your budget. This tends to set you up for disappointment. Even if you manage to purchase the home, you may find yourself in the same situation as the friends you mentioned in your question: too much house and too little money.

After doing your research, you’ll know how much you can afford to spend on a new home. You can then pinpoint properties in your price range.

Most home purchases require compromise. Maybe you’ll decide on a smaller house in a neighborhood with the best schools in the city. If space is your highest priority, you might decide on a large house in a less-exclusive neighborhood. Every house has some advantages and disadvantages, but keep your search within your financial comfort zone.

3.) Purchasing Based on Future Changes

If you are having trouble finding a house in your price range, consider ways to reduce your current expenses. This will mean having more money available to make a larger monthly mortgage payment. The mistake some people make is assuming they can make these changes once they own a house. However, these budget changes should be in place before you buy a house, even if it means delaying the purchase. Give yourself at least six months to see if you can stick to your new budget.

4.) Treating Your Home as an Investment

First-time buyers often expect that they will be able to sell their house in five or 10 years for a large profit. The last decade has brought major changes to every housing market. While a house in certain areas was almost guaranteed to appreciate in value, this is no longer a sure thing.

Economics professor Art Carden, from the Brock School of Business, has this advice, “Buy a house to live in and be prepared for lots of unseen upkeep costs that range from mowing the lawn to emergency repairs.”

Your turn: Do you have tips for avoiding house buying mistakes? Share them in the comments.

SOURCES: 
Money.Kathryn Vasel. 4 things first-time homebuyers need to  know.http://money.cnn.com/2017/05/11/real_estate/first-time-home-buyer/index.html
Investopedia. Amy Fontinelle.https://www.investopedia.com/articles/mortgages-real-estate/08/ten-worst-mistakes.asp 
CNBC. Maggie Overfelt. 8 biggest mistakes first-time homebuyers make.https://www.cnbc.com/2014/07/17/8-biggest-mistakes-first-time-homebuyers-make.html

Getting Through the Winter Blues

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Winter brings cozy fires, happy holidays and fun sports like ice skating and skiing. It can Little girl huddled under a coatalso bring some things that are less welcome. With sunshine being scarce, many people get the winter blues. This depressed state is often made worse by the financial realities of winter, which include higher energy costs and money spent on holiday festivities.

Here are some ways to get proactive and beat the blues before they start.

Budget for Holiday Spending

It might be too late this year, but it is not too early to think about strategies for next year. Consider what you actually have in hand to spend without using credit. Then, make a list of all your holiday expenses. These expenses might include gifts, travel, special foods and entertaining.  Consider a holiday club account to meet those expenses next year.

If you have family or friends you usually exchange gifts with, speak to them about putting a dollar limit on spending. Think of some other ways to celebrate in addition to gift giving. Maybe a holiday potluck would work. Have a family game night. Plan an at-home New Year’s party.

Doing rather than buying can lift your spirits. Psychology professor Tom Gilovich of Cornell University says you’ll be happier and have longer-lasting happiness if you spend your money on experiences instead of things.

Also, consider making your own gifts, because a handmade gift can be more meaningful than something store-bought. Have the whole family participate in making fruitcake or jam. Even the youngest members of the family can help with decorating and wrapping the gifts.

This is a great time to talk with your children about financial realities and budgeting. Instead of making a long list of presents they want, have the kids pinpoint one or two items that are really important to them. Talk to them about the expenses you have and reassure them that there will be plenty of joy even without being overwhelmed with presents.

Keep Warm

Energy costs can be a source of worry. However, there are some things you can do to cut your energy costs.

For starters, check your house to make sure you have enough insulation. Look for places in the house where you may be losing heat, such as loose windows or cracks. You can fill these cracks yourself or hire someone to come in and do it. The money you spend will be recouped quickly in the form of lower heating bills.

Try to keep your thermostat at a lower temperature. Get your family in the habit of wearing sweaters and socks in the house. Small afghans on the couch are attractive and useful for cuddling and keeping warm. Buy some extra blankets for the beds and lower the temperature even more at night.

If it is in your budget, a new programmable thermostat can save you money. You will be able to adjust room temperature according to your schedules, keeping it low when no one is home. You can set the thermostat to kick in more heat before you get home from work, so the house will be warm when you arrive.

Do It Yourself

When the kids are home from school, it’s easy to fall into the trap of keeping them busy by going out for treats — pizza, hot chocolate or a warm meal. Start doing more of this at home. Make a large pot of chili or some cocoa for the family. It’s easy and more fun than bundling everyone up to go out. It will save you both money and time.

In general, you can save quite a bit of money if you have been buying expensive coffee on the way to work or throughout the day. Hone your skills as a barista, brew your own and save a bunch.

Consider Credit Counseling

If you are still feeling blue and think it may be related to your finances, start the new year off with free counseling for members offered by Destinations Credit Union’s partner, Greenpath Financial Wellness. A sure way to beat the winter blues is to get a confident feeling about being on top of your financial wellness. “The more you plan, the less you spend,” says Ellie Kay, a California financial planning expert.

And that can make a world of difference in many areas of your life.

Your turn: Are you feeling down about your financial situation? Does the cold weather have you feeling depressed? What are some strategies you’ve used to combat the winter blues?

SOURCES:
https://www.nhs.uk/Conditions/stress-anxiety-depression/Pages/dealing-with-winter-blues-sad.aspx 
https://globalnews.ca/news/2460320/5-ways-to-beat-the-winter-blues-and-stay-happy-beyond-blue-monday/ 
https://www.bankrate.com/finance/debt/7-tips-to-beat-the-post-holiday-debt-blues-1.aspx

Combatting The Financial Mistakes Of Our 20s And 30s

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People starting out in their careers often focus on the here and now while ignoring the

couple looking at computer

A couple, man and woman seated sharing a digital tablet.

future when it comes to finances. As you climb the ladder of success, you tend to think that the raises and promotions will endlessly continue. It can seem like you have forever to plan for the future.

As millions of Baby Boomers will tell you, the future comes faster than you can imagine.

While there are lots of financial mistakes we can make, here are six that are common and avoidable. If you’re starting out, know the pitfalls, and maximize your chances of avoiding them.

Mistake #1: Not Planning for Retirement

Retirement seems like a lifetime away, but the only way to make sure that you have what you need to retire is to start planning early. This is probably the most common mistake we make in our 20s and 30s. It is also the easiest one to avoid. If you start saving for retirement when you get your first job, even if it’s a very small amount, you will establish the habit as well as start to build savings.

Short-term goals, like a new car, can overshadow what seems like the very long-term goal of retirement. However, it’s wise to get your priorities straight early on so you’ll reap huge benefits. As Suba Iyer, a financial writer, said, “When I started my first job. I thought retirement was too far away and I should be saving for some immediate needs like getting a car. The end result-I didn’t save for retirement or a car or anything else. I just spent my entire salary.”

Mistake #2: Spending Too Much on a Car

Speaking of cars … that’s something that trips us up when we’re young. While it may make financial sense to buy a new car, be careful not to buy more car than you need. A flashy and expensive car may be tempting, but keep your long-term goals in mind and choose a car that serves your current needs without sabotaging your savings.

Mistake #3: Not Using a Budget

Unless you are fortunate enough to have parents who explained what a budget is and how to use one, you may have no idea where to start.

You may look at a budget as something you don’t need because you are not making enough money, Or you may see it as something that will restrict your spending or is just too much trouble. However, a budget can help you at any level of income and can even give you financial freedom because you can see where you are spending. And they’re less trouble than you think. It can be as simple as tracking money in and money out. As you make more money and your expenses get more complex, you can customize your budget from there.

Mistake #4: Overusing Credit

While most people know that credit cards can get us into trouble, it is very easy to fall into the debt trap. You start carrying a little balance on your credit cards and it builds up. You may then have to dip into savings to pay your credit card bills.

Avoid this situation by using credit sparingly and only for identified and planned purchases. Implement a plan to save for major purchases and pay for most, if not all, of them in advance. “Start shifting your mindset so that debt no longer seems normal and stop creating new debts,” says Andrew Josuweit in a recent Forbes article.

Mistake #5: Having No Emergency Fund

For the same reasons we tend to skip proper retirement planning, we also skip saving for emergency situations. In our 20s and 30s, we tend to think we’re invincible, but illness or job loss can happen at any time. An emergency fund should cover your expenses for at least three months.

Mistake #6: Not Having Adequate Health Insurance

While health insurance is expensive, it is short-sighted to skip this vital component of your financial portfolio. Just one hospitalization can get you off course and cause real financial hardship. Health insurance is not optional, and young people are the first to ignore this rule. The cost may seem prohibitive, but it comes back to priorities and future planning.

Your turn: In your 20s and 30s, did you make mistakes you regret? Or, are you in this age bracket now and have questions about setting your priorities? Share your questions or words of wisdom here!

SOURCES:
https://lifehacker.com/the-biggest-money-mistakes-to-avoid-in-your-20s-1536804874 
https://www.forbes.com/sites/andrewjosuweit/2017/03/23/8-money-mistakes-you-want-to-avoid-in-your-30s/#78979a693906
https://www.fool.com/retirement/2017/12/04/5-money-mistakes-to-avoid-in-2018.aspx 

Back-To-School Savings

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Back-to-school shopping can kill your budget each year. Is there any way to start the year mom and childoff right…without spending a small fortune?

Rows of freshly sharpened pencils, an unopened box of crayons and a pair of shiny, new shoes will provide a thrill for any child.

As the parent, though, you’re the one footing the bill. If the thought of all that back-to-school spending makes your head pound, you’re not alone. The National Retail Federation reports that parents of children entering kindergarten through 12th grade plan to spend nearly $700 per child on school supplies, new clothing and shoes this season. That’s enough to fill any budgeting parent with dread.

No worries – as always, Destinations Credit Union has your back! Let us help you navigate the second-largest shopping season of the year with your budget and sanity intact. Read on for 12 ways to save on back-to-school shopping.

1.) Do a house-wide sweep

Before you spend a penny on new supplies or clothing, scour your closets and drawers to see what you have lying around the house. Round up all the supplies you find and take inventory. Write it all down and keep the list handy – in your phone, purse or car – so you don’t forget what you already have and end buying unnecessary items.

While digging through your kids’ closets, sort and purge. Donate outgrown clothing (take note and get a receipt for tax deduction purposes) and throw out everything that isn’t wearable. This way, their closets won’t be cluttered with junk and you’ll know exactly what you have and what each child still needs.

2.) Get the teacher-approved list

Most schools and teachers will send you a school supply list that details exactly what your child will need. Those lists are also often available at major retailers. Pay close attention to specifics on the list instead of buying supplies at random. This will prevent you from buying items your child can’t use and being forced to later repurchase according to teacher criteria.

3.) Spread your purchases

Spreading your back-to-school purchases throughout the summer will allow you to take advantage of weekly sales. One week there might be a great deal on pencils, the next week, folders will be dirt cheap. Over the course of the summer, you’ll get all your supplies at terrific prices. Also, by picking up a few items a week, you won’t feel the financial squeeze as much as you would if you’d buy everything at once.

4.) Take advantage of sales-tax holidays

Many states have a sales-tax holiday during the first week of August; others have tax-free days in July. Look up the timing of your state’s gift to budgeting parents and do your shopping then. You’ll save big! Maryland Tax Free Week 2017 is Sunday, August 13 to Saturday, August 19, 2017.

5.) Organize a clothing swap

The clothing your best friend is trashing may be the perfect fit for your daughter. Organize a clothing swap party with other parents in your area. Choose a date and venue, and instruct all attendants to show up with three or more items of gently used children’s clothing. At the party, parents can exchange their kids’ outgrown clothing and go home with incredible finds – all free of charge!

6.) Find the best prices

This doesn’t have to mean touring your town in search of the best deal on crayons. Instead, hunt for specials in the Sunday paper and weekly circulars and look up coupons and deals online, at sites like RetailMeNot and CouponCabin. To make it even easier, check out PriceGrabber.com or use the ShopSavvy app for help in snagging the lowest possible price on an item.

7.) Use Twitter and Facebook to save

Many companies will send coupon links to their followers and let them know about upcoming sales. Monitor your favorite stores’ Twitter feeds and Facebook updates to find super deals.

Follow these stores on Twitter:

Staples: @StaplesTweets

Office Max:@OfficeMaxDeal

TJ Maxx:@tjmaxx

Marshalls:@marshalls

8.) Save through Ebates

When you buy through Ebates, you earn cash back on every purchase. You’ll also find exclusive deals and offers on the site. You can shop major brands and stores like Macy’s, Walmart, and Kohl’s on Ebates. Some users receive upward of $300 from the site throughout the year. That’s like getting paid to shop!

9.) Time it right

Your child needs to be ready for the first day of school – they don’t need a year’s supply of paper or a full autumn wardrobe before Labor Day. Purchase what your kids need now, and save the rest for later. You’ll find deep discounts on school supplies and fall clothing just a few weeks into the school year.

10.) Set limits

Every year there’s a must-have school supply or clothing trend. You want your child to fit in, but you don’t have a money tree growing out back!

That’s why it’s important to set limits. Share your budget with your child. If your budget allows, let them choose one or two pricier items – but that’s it! Don’t give in to every whim; you’ll be enforcing bad habits and breaking the budget at the same time. If your child insists on more, you can always check out sites like eBay and Craigslist for discounted high-end items.

11.) Cash and debit card only!

Paying with cash or using a debit card that draws from your checking account will help you stick to your budget. Resist the urge to charge supplies if you can. You don’t want to end up paying interest on pencils for months after they’ve already broken.

12.) Plan ahead

Finally, start thinking about the next school year now! When school supplies and backpacks are ridiculously discounted a few weeks into the school year, stock up for next year. Stash away your extra supplies to pull out at the end of next summer. You’ll be grateful you did!

Your Turn: Do you have a great back-to-school shopping hack? We’d love to hear it! Share your best saving tips with us in the comments.

SOURCES:
http://www.moneycrashers.com/back-to-school-supplies-list-tips/ 
https://www.google.com/amp/amp.timeinc.net/realsimple/work-life/family/kids-parenting/back-to-school-shopping%3Fsource%3Ddam 
http://www.familycircle.com/family-fun/money/back-to-school-shopping-savings/ 
https://money.usnews.com/money/personal-finance/articles/2015/07/22/14-back-to-school-shopping-hacks 

6 Ways To Save On Your Summer Vacation

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The ocean is calling – and so is the open road. Your dream vacation awaits! But first, youSummer Beach Scene need to work out the financial details. How are you going to pay for your getaway? How much can you realistically spend? Where is the money for your vacation going to come from?

Ideally, a plump vacation fund that’s fed throughout the year is the way to go. Unfortunately, though, we often don’t think about how to pay for vacation until it’s a few weeks away. To make things even worse, according to LearnVest, an alarming 74% of Americans go into debt to pay for a vacation.

Don’t become part of that statistic! Be proactive in planning your vacation by saving up for it in advance. Forgo some luxuries in the months or weeks leading up to your vacation and save the extra cash for your getaway. Consider running a yard sale featuring all of your forgotten treasures and use the profits to fund your trip. Skip your weekly dinner out for a while and put the money in your vacation budget.

Now it’s time to plan your vacation! When you’ve got the money saved up, create a realistic vacation budget. These six vacation saving tips will help you plan the perfect getaway while staying well within your budget.

1.) Timing is everything

Be a savvy shopper. There is an ideal window for buying everything, and booking airline flights is no exception. Flight prices generally fluctuate until departure day, but experts say the sweet spot is 54 days before your travel date. If you don’t want to be busy checking prices all day, sign up for emails from a savings alert site. Let them know which dates and locations you’re interested in, and they’ll let you know when a flight goes on sale so you can book your discounted tickets before they’re sold out.

2.) Clear your cache

Hotel and airline sites use cookies to determine what you’re shopping for. They’ll see which days you’re searching and raise their prices accordingly. Beat the system by clearing your cache before every new search so they can’t read into your browser history. You might see as much as a 50% drop in prices when searching with an empty cache!

3.) Sweet-talk your way to savings

Just because your hotel room is pre-booked, it doesn’t mean you can’t save. Don’t be shy about asking for an upgrade at check-in. About 78% of hotel guests who request an upgrade at the front desk actually receive one. Some face-to-face schmoozing can go a long way!

Also, by 6 p.m., most hotels know which rooms will be filled for the night. If you check in later in the day, you’ll have a better chance at getting the keys to the room with the incredible view – even with your economy-class price tag.

4.) Never pay full price

You can score a deluxe vacation without the deluxe price tag – all it takes is a little research. Check sites like coupondivas.com, entertainment.com and Groupon.com for amazing deals and deep discounts for local eateries and entertainment centers. You can also find cheaper tickets to nearby amusement parks by looking for sellers on Craigslist. Also, if you’re traveling with kids, don’t forget to look up restaurants with “Kids Eat Free” promotions.

5.) Freebie fun

Challenge yourself to enjoy one day of your vacation without spending any money at all. Search local sites and blogs for write-ups about fantastic free things to do nearby. You might find a charming family farm, a gorgeous waterway, a fun splash pad for the kids or a scenic hiking trail. Or, just spend the day at the closest beach!

Don’t eat out on this day either. Many hotels include a continental breakfast – take full advantage. For lunch, you can picnic on sandwiches. Dinner can be something effortless and delicious that you brought from home or pick up at a local supermarket. Consider packing a travel grill or panini maker for easy meals. You can heat up some hot dogs or burger patties, or bring some baguettes and an assortment of sliced cheeses for fresh paninis. Round off the meal with some pre-sliced veggies.

You’ll be surprised at how much fun you can have without spending a penny!

6.) Save your mega event for the last day

The taste of dessert is what lingers after the meal is through. End your vacation on a sweet note by saving your most exciting event for your last day away.

If you’re unsure of how you’re going to fund your getaway, call, click or stop by [credit union] to ask about taking out a personal loan or joining a vacation club. We want to help you make your dream vacation come true!

Your Turn: How do you save big on summer vacation? Share your best hacks and tips with us in the comments!

SOURCES:
https://www.google.com/amp/www.vogue.com/article/how-to-save-money-on-summer-travel-learnvest/amp
https://www.google.com/amp/www.cbsnews.com/amp/news/5-money-tips-for-savoring-your-summer-vacation/
https://www.google.com/amp/amp.timesfreepress.com/news/business/aroundregion/story/2017/jun/25/how-save-time-work-and-money-your-summer-vaca/434806/
https://www.google.com/search?q=ways+to+save+on+summer+vacation&rlz=1CDGOYI_enUS737US737&oq=saving+on+summer+vaca&aqs=chrome.3.69i57j0l3.11737j0j7&hl=en-US&sourceid=chrome-mobile&ie=UTF-8
https://www.google.com/amp/www.bankrate.com/personal-finance/smart-money/8-last-minute-ways-to-save-for-vacation/%3Famp%3D1