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Money-Saving Tips for the Holidays

11/21/2012 9:47 am

WellConnect, provided by WGU to its students, provides financial resources to you and the members of your household in order to help alleviate financial pressures, enabling you to focus on your studies and the things that really matter to you and your family. Periodically, The Night Owl blog shares advice from WellConnect.

money wrapped in a ribbon

The holiday shopping frenzy is starting. Are you in control of your finances or are they in control of you?

Here are a few tips for controlling your holiday spending. Students can find more information—articles, tutorials, and financial calculators—on the WGU Student Advantage website.

  • Get help with your finances: WellConnect offers access to extensive budget and debt consultation services and resources at no cost to students. Students and/or the members of their households have unlimited access to budget and debt counselors who will help formulate a budget and develop strategies on how to better manage finances. Access these services by calling 1–877–685–3269 or by requesting a call online.

  • Create a holiday budget: Determine what you can realistically afford to spend on the holidays and set aside that amount in cash. Avoid using your credit cards. Instead make all your purchases using debit cards or cash.

  • Avoid binge spending: Limit any impulse purchases by giving yourself a spending limit. For example, limit yourself to spending up to $20 when you feel like buying something that is not included in your holiday budget.

  • Decide who really needs a gift: Do your adult friends and family members need purchased gifts this year? You might draw names to limit the number of gifts you give in your extended family. Consider giving gifts of time or service to your adult friends and family members.

  • Shop smart: The Internet makes it possible to compare prices at multiple stores quickly. You can also call stores directly and find the best prices. Some stores will price match, so you can find the best price and then receive that price at a store near you.

  • Budget for giving: This season provides opportunities for sharing with others, but be sure to include those expenses in your budget. Decide in advance where to give and how much you can afford to give.

wellconnect logo

For help with budgeting or just more ideas, call WellConnect for confidential financial consultation services: 1–877–685–3269. Visit the Financial tab on WGU’s Student Advantage website for financial calculators, tutorials, and articles.

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