Instead of repaying the loan at the end of the year, a financial expert said, it is better to reduce the shock of holiday shopping by saving for the whole year.
The sinking fund is similar to Live, but instead of making incremental payments in the store, “basically a pot that you contribute a little over the long term,” financial literacy creator Vivian Tu recently told Yahoo Finance Live.
She said “financial aid” is very helpful, as it “reduces the burden of holiday shopping,” which is about $ 1,000 per year for holiday gifts.
“Instead of going into credit card debt, or leaving your own needs during the holiday season, a sinking fund is a great way to save for important things throughout the year,” she said.
This method can be applied in January or when the winter holidays are approaching, but starting at the beginning of the year has the advantage of time.
“If you do the math fast, फक्त 1,000 per day for the whole year is only 75 2.75,” she said. You explained that she starts saving in September and tries to save $ 10 or $ 20 per week. The timeline works either way because saving a little “is much easier than forking more than $ 1,000 at a time.”
However, the TU credit card reward and cashback system encourages shoppers who have a healthy relationship with credit to raise their dollars.
Regarding what Americans are writing on their wish list, you said that this holiday season is going to be about visiting experiences as epidemic measures have left many in their homes.
Calling them practical gifts that “anyone in your life can appreciate,” your ideas include “day spa trip or their next flight for their next vacation or overnight at hotel for their next trip,” she said.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.