Source: BALANCE Financial Guide

Holiday spending is often a spending plan-buster. The expenses can be numerous: presents, wrapping paper, cards, decorations, food, and travel, to name a few. Yet very few people have an unlimited holiday budget. If you do not have the funds to buy everything you want, there is no need to despair. A little bit of creativity and energy can get you through the holidays without draining your wallet.

Gifts
Why spend $75 to buy a scarf if you can knit it yourself with $15 yarn? Making your own gifts is a great way to save, since supplies usually cost less than the finished product. Not only are homemade gifts cheaper, but many people appreciate them more than store-bought gifts because of the effort that goes into making them.

Are you not an experienced crafter? No problem. Writing a letter describing what the person means to you or framing a memorable photo are ways to give personalized gifts without having to break out a glue gun. Baking is another option that is easy for most people to do. Standard cookies or brownies can be dressed up with sprinkles and ribbons in holiday colors.
Offering your services is a great cost-saving gift, since it only costs time. Why not offer a free night of babysitting to your sister with three kids or a month of lawn-mowing to your parents? Think about what service you want to offer, and create a coupon that the recipient can redeem at a later date.

Gift-wrapping
Now that you have taken the time to choose economical gifts, you probably do not want to spend $50 wrapping them. Skip the fancy wrapping paper and bows, and look around the house to see what you can use. Do you have a newspaper? (The comic section is an especially suitable choice.) Computer paper? Shopping or supermarket bags? Cheap craft supplies, such as glitter and paint, can be used to decorate plain surfaces.

Cards
It is not uncommon for store cards to cost $4 a piece – or more. If you sent cards to 20 people, that would cost you $80, not including postage. Creating your own cards can help you save, 

Source: BALANCE Financial Guide

A checking account is a contractual relationship between you and your financial institution, with each party having specific responsibilities:

• The financial institution holds your money in a safe place and helps to facilitate your purchases
• You are responsible for handling your account wisely by not overspending the money you have in your account

Rejected or Bounced Checks
If you write a check for more than is in your account, the check will be rejected when it comes in for payment. It will be sent back to the person who deposited it and you will be charged for “bouncing” it. The merchant you wrote it to will not only charge a returned check fee, but the law enables the merchant to charge you for up to three times the amount of the check. In addition, you may be subject to court proceedings and be required to take special classes on money management. One bad $12 check could cost you a lot of money! 

Do not write a check before you make a deposit, counting on the “float” time. With the electronic nature of banking, a check can clear the financial institution the same day you write it.

Overdraft Protection
Many financial institutions will offer you overdraft protection through your credit card or 

Source: BALANCE Financial Guide

Wouldn’t it be nice to adapt to change easily and gracefully? To offset the wallet-shock an unexpected life change can bring? You can.

Whether you have one year or one week to adjust to such monetary upheavals as marriage, divorce, a growing family, or military deployment, you can sail through financial foul weather – as long as you PLAN for it.

Prepare: This first step will help you understand how much money you have to work with. It is vital to putting together a practical strategy for the future. If you don’t already have your financial documents in one place, it may require a little hunting and gathering (and once you do, keep them accessible, be it on your computer or in a folder in a corner of the kitchen. Be and remain organized for the next inevitable change).

You will need recent bank and credit card statements for account balances, current loan papers, pay stubs with income, tax, and deduction information, and your checkbook register for household bill information.

Have it all together? Good. Now carefully examine and notate your current income, expenses, assets and liabilities. You will need all this data for the next step in your PLAN… 

Source: BALANCE Financial Guide

Your relationship with food is probably pretty complex. In addition to sustenance, you may use food for comfort, gathering with others, distraction or pleasure. When you really commit to tracking your food expenses as part of putting together a spending and savings plan, you realize food can be a complicated part of your financial life too. While meals are of course a necessity, take a look at your food-buying habits. Odds are that there’s room to save.

Eliminating “extra” expenses like dining out or buying pricey steaks is a good place to start. But also keep in mind that a successful food-purchasing plan isn’t just about cutting things out. It’s also about understanding your habits.

Going out to lunch at work
You may grab “a quick bite” at work because it’s easy. But it might actually take you less time at home to put together the same meal. Then you get to spend more of your lunch period at work relaxing, going for a walk or reading a book. Or you could just spend the time thinking about the hundreds of dollars you will save this year by brown-bagging.

Convenience store or check-out aisle buys
If you actually look at the prices, you realize that the mark-ups on the quick-grab items near store cash registers are incredibly high. But that’s just the thing. Stores realize you don’t stop to examine and consider prices in those situations. If you find yourself reaching for a pack of gum or some candy as you are about to check out, instead, make a commitment to stock up ahead of time and keep these items in your car or your purse or your desk. By buying them online or at a bulk retailer, you could pocket a bunch of extra dough.

Fast food
The fast burger or taco for $0.99 sounds like the perfect recipe for our modern sensibilities; we want food in a hurry and we don’t want to pay a lot. While the speed of delivery may be enticing, the end price may not be all that great. Consider: how many times have you gone to 

Not that long ago, people looked forward to retirement as a time of relaxation and leisure when one might travel the world or take up a new hobby. Increasingly, however, people preparing to retire are doing the math and realizing that the future doesn’t look so bright financially. The following 10 guidelines will help you enjoy a more comfortable retirement even in an uncertain economy.

1. Have a Plan But Stay Flexible
Retiring successfully takes planning. Take an honest inventory of your assets, savings, investments, and set some goals for your retirement. Consider what you’d like to be doing, where you’d like to live, who you want to be near, and what kind of lifestyle you prefer.
While you need a plan you also need to be flexible and open to unexpected changes. Keep yourself informed about the latest developments in areas such as the cost of living, tax laws, investments, real estate trends, and other areas that are likely to have an impact on your life.

2. Watch Your Spending
Overspending is a common mistake for many retirees. The paradox about not working is that you have less money coming in but more time to spend your money. It’s natural to want to fill up all your free time with eating out, shopping, traveling, and other leisurely pursuits. It’s important to set a budget and stick to it. You don’t have to cut out all entertainment and treats. However, make sure you don’t spend beyond your means.

3.  Find New Sources of Income
It’s an unfortunate fact that people in the United States and many other countries are postponing retirement because they can’t afford to stop working. Some employees, meanwhile, are forced into retirement. There are, however, alternatives besides working full-time and complete retirement. Here are a few possibilities.

• Get a part-time job. This can actually be good to keep you active as well earning money.
• Start a business. There are many businesses you can start from home, from selling items on Amazon or eBay to providing freelance services.
• Make money from your property. If you have extra space, you might rent out a room or set up an Airbnb.

4. Get Out of Debt
Reducing or eliminating debt is one of the best ways to improve your financial situation. Debts are especially draining after you retire. Do whatever you can to cut down on what you owe, especially high-interest debts such as credit cards.

Paying off debt provides two main benefits. On the one hand, it reduces the burden of making high payments when your income may be decreasing. Additionally, you have a chance to improve your credit score which is useful if you want to apply for a mortgage, business loan, or another type of loan in the future.

5. Don’t Touch Your Retirement Account Early
Withdrawing money from your retirement account early may be tempting but it’s seldom a financially wise decision. You also incur tax penalties if you take money out of an IRA or 401K before retirement age (currently 59.5). If you’re thinking about raiding your retirement 

Everybody looks forward to summer vacation, but as we all know travel can be expensive. If you’re looking to squeeze a getaway into your budget this summer, here are some tips for traveling on the cheap and getting the best deals.

Go in the Off-Season
During the hottest summer months, business at popular vacation spots like Arizona
and New Mexico tends to slow down dramatically. If you can take the heat, you can
score some great deals at premium resorts, golf courses, and other attractions during the off-season. Just remember that the off-season is also when many of these places perform annual maintenance and major construction projects. If, for example, a pool is important to you, make sure the resort you’re visiting won’t be renovating it while you’re there.

Buy a Package
When considering a last-minute getaway, travel packages that combine flights, hotel, and sometimes meals, can be the best deals out there. The key is to be flexible on where and when to go.

Get the App for That
These days, there’s a travel app or website for pretty much everything – including
tracking down the lowest priced flights, hotels and travel packages. A few to consider include Kayak, Hipmunk, Momondo, Airfare Watchdog, and Skyscanner. Each has a slightly different focus, so try out several to see which ones work best for your needs. Keep in mind that some of these sites do not carry regional airlines, which often have good deals. And, when you do find a great flight deal, take a look at the airline’s website since some deals are only available when you book direct.