It seems that every year the holidays bring overspending and avoidable stresses. But, every year, the cycle continues no matter how many times we look back and think about how things could have been easier. If you are looking to break this cycle, try out a few of our tips below to make holiday spending less stressful.

Set a Budget

Start by making a list of the people you wish to buy for, then set the amount you would like to spend per person. For example, you might want to spend more on a good friend or family member versus an acquaintance.

Keep up with Expenses

Have you ever stockpiled gifts to realize you may have bought too much? Instead of throwing freshly purchased gifts in a closet to keep from prying eyes, take a moment to write down what you bought and whom it is for. This will also help prevent last-minute panic shopping when you notice you have forgotten someone.

Deals on Travel

If the holidays bring additional expenses such as travel, make sure you are getting the best deals on flights, hotels, rental cars, and more. Book early to secure low prices before they skyrocket closer to the holidays. If you have a Spending account with R1, you might have access to R1 Cha-Ching! This service has all sorts of deals and discounts on everything you need when traveling.

Start Saving

Saving early can help release a ton of stress, but it is hard to start sometimes. Set a goal at the start of the year; the earlier, the better, and then figure out how much each month you need to set aside to meet that goal. If you need help getting started, we offer a Savings Goal tool within online and mobile banking. If you need more of a commitment to saving, we also offer a Savings Builder loan which can also help build your credit history!

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