The holiday season is full of giving, which means that the season is often full of spending.  Your friendly bankers at Banterra want you to be able to start the new year with more money in your wallet, so use these six helpful tips to ensure that you don’t get wrapped up in holiday spending.

Make A List And Check It Twice

Create a list of people who you are planning on purchasing gifts for and set a spending limit for each person.  Try to think of a few ideas within your price range for everyone.  Avoid impulse spending by only purchasing what is on your list.

Set A Limit

When setting a price limit, figure how much you can afford to spend on your holiday expenses in total.  Setting a price limit will help keep your holiday budget on track. 

Begin by making a list of all your holiday expenses.  Remember to keep in mind additional expenses like holiday cards, hosting expenses, traveling expenses, wrapping paper, postage and shipping costs and other holiday needs.  This will give you an idea of what all you need to purchase in addition to gifts. 

Tip: Review your receipts and bills from last year to get an idea on how much you spent and how long it took to pay off. 

Shop Smart

We all love a good deal, but it is important to do some research on a product that you are wanting to buy, especially if you choose to purchase it online.  Beware of fake websites, unsecure websites and making quick purchases while scrolling through social media.  

In an article by the Federal Trade Commission (FTC), shoppers are encouraged to check rules about refunds and returns and what happens if there is an issue with your purchase.  It is also essential to make sure that you are always able to pay with a safe payment method and avoid purchasing from anyone who wants you to pay outside the marketplace’s payment system.

If a deal looks too good to be true, it most likely is.  According to the Better Business Bureau (BBB), the risk of online purchase scams rises during the holidays because more people are shopping online.  During this time, scammers offer the most popular products for the season at great prices.  Make sure to always read reviews and do research to make sure that the marketplace is credible.

Keep Track

Keep track of your seasonal expenses manually or automatically with a spreadsheet or mobile app that helps monitor your holiday spending and continue to keep your receipts and bills to use as reference for next year.

Banterra customers can easily attach receipts or other information to transactions using Digital Banking. Simply click on the purchase within account activity and select “Attach Image(s)” at the bottom of the screen. It’s that easy!

Get Creative

The best gifts come from the heart, so why not try to make it yourself!  If you have a hobby like baking, knitting, woodworking or more, show off your skills by making homemade gifts. Adding a personal touch to your holiday gift giving is priceless. 

Plan Ahead 

Get a head start on next year’s holiday season.  Don’t wait until next November to get your shopping done; try to start purchasing earlier in the year.  This also gives you a chance to shop around for the best deals on the gifts you really want.

Lastly, it is important to plan ahead by saving.  Get a jump start on next year’s holiday expenses by setting a goal of how much you would like to save each month or open a Banterra Preferred Savings account specifically for holiday saving.  Learn more about our savings account options at

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