FOR IMMEDIATE RELEASE
November 18, 2011
WASHINGTON – With the holidays around the corner, the National Association of Federal Credit Unions (www.nafcu.org) is offering these tips to help consumers avoid getting a holiday budget hangover this season.
Create a Budget – Create your gift list and determine how much you can spend on each person. Set a budget among family and friends or establish a gift exchange program.
Give Gifts that Keep on Giving – Make a charitable donation on someone’s behalf or open a Christmas club or savings account for a family member. At some credit unions, you can open an account for as little as $5. You can find a credit union at www.culookup.com.
Use All Your Resources – Credit cards from credit unions have been hailed by many, including Consumer Reports, as great deals for their low interest rates. In fact, federal credit unions cannot exceed 18 percent on credit card or loan rates, and most average much lower. Some offer credit cards that have reward programs or give you discounts for purchases at certain retailers.
Shop Smart – Today, many Smartphone apps and online coupon sites offer great ways to find a bargain on anything. Just about every retailer is running specials or offering free shipping. It pays to do some research and find the best prices for your holiday items. If you can’t figure out what to give, gift cards are a popular option.
Protect Yourself – Keep thieves from snatching your valuable information. Protect your access numbers and credit card information at stores and online. Don’t respond to unsolicited e-mails, and make sure the sites where you are making purchases are secure and the padlock symbol is visible.
Avoid Impulse Buys – Do not be beguiled by sale items. Stick to your list and budget. After the holidays, you will be happy you did not overspend. If you should need help with your finances, your local credit union may offer free financial literacy classes. You can also check out the personal finance calculators at www.culookup.com/Calculators.
The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public. www.nafcu.org
Contact: Patty Briotta | 703-842-2820 | pbriotta@nafcu.org