Category: Savings

Saving Pennies for Turkeys!

11/19/2019

It's so easy to splurge during the holidays, but don't forget that Thanksgiving is just one of many festive activities on your list over the next few weeks and months. You also might want to still have a few dollars left in the bank once the new years begins. So enjoy these tips on how to save a few dollars as you approach the holiday season.

I'm not sure about you, but Thanksgiving has always been one of my favorite holidays! Sitting around with your loved ones, celebrating the things you have to be thankful for, all topped off with an amazing plate (or two) stuffed full of amazing food, all ending with a nap? That sounds pretty perfect to me. It's so easy to want to buy the best foods, the best decorations, and the best little extra things to make these days special. But remember, you can still make Thanksgiving and every holiday special without breaking the bank. Just in time to start buying all of your favorite items to kick off the holiday season, here are a few tips on how to take care of your bank account while still celebrating the holidays in style!

Don't overbuy or buy expensive items. Everyone loves to eat extra food on thanksgiving but plan on feeding the actual number of guests that will be attending your dinner, and not planning for the entire neighborhood. Maybe plan a little extra for those days after Thanksgiving sandwiches too, but go easy on yourself. This also means less cooking and stress for you too!
Don't splurge on everything. Not every item has to be the most expensive or the very best. Pick an item or two that you'd like to be the special centerpiece of the meal, and the rest can be regular store-bought items or even discounted.
You don't have to buy and make everything on the menu. If you're hosting, have your guest bring items to share. If you are in charge of the turkey and a few other staples, have your guests bring the rest. They can even bring cups, plates, and other paper items to cut down on clean up time and expense!
As much as we all love specialty grocery stores, they are also the most expensive to shop in. Shop at your local chain grocery stores to save money. You will find everything much cheaper, and the quality is still fine.
Check your fridge and pantry before you go shopping. You might already have a lot of ingredients and items you need to get cooking. Don't waste money on buying a duplicate of something you already have!
It's hard not to decorate every room of your home like Martha Stewart, with a top-dollar budget to make it Hallmark ready. Remember, decorative items can add up quickly too. See what you already own and get creative. The amount of adorable DIY projects out there are amazing. You'll be surprised at what you can find. Also, invest in what's growing in your garden! The last bit of seasonal flowers, greenery, squash, pumpkins, and other garland are PERFECT for holiday decorations!
Your turkey can easily be the big-ticket item on your shopping list. But if you get your turkey at a chain supermarket, this is the easiest place to save money. You will find that turkeys are much cheaper there.
Research what will be cheaper to buy pre-made and what will be cheaper to make from scratch. This might surprise you!
If you are hosting a large Thanksgiving this year, use stories like Costco or Sam's Club to your advantage. Buy in bulk and save. At some Costco's you can even buy wine and other alcohol in bulk very inexpensively!
If you are traveling for the holidays, try and travel with just a carry-on. Thanksgiving trips usually are shorter than most, and you don't need any extra room for gifts just yet.
If you're flying for the holidays, start thinking about buying your tickets in advance. A lot of experts recommend you start looking and purchasing as early as September if you can. Fly on days where it will be cheaper. Use popular apps and websites that are designed to help find the cheapest flights for you.
If you're visiting family and friends, try and stay with them instead of renting a hotel room! If that isn't an option, try looking into Air B&B instead. You will get a homey feeling for a much better price.
Pick and choose which holidays you're going to travel for, don't travel for all of them. Have family come to you, or celebrate locally with friends. Use Skype, Video Chat, and a good old fashion phone call to check in on your family if you decide to stay home for Thanksgiving.
Use coupon saving apps and websites, and save up any kind of grocery store points and rewards for the holidays. These will go a long way. You can also apply this to fuel points and other offers for the holidays as well!

The holidays can be overwhelming and expensive. But if you take the time to do a little extra research and planning, they certainly don't have to be. Use this list to help enjoy your holiday, let it be a little less stressful, and save some money while you're at it!

0 Comments

Being Financially Prepared for a Hurricane

9/22/2019

0 Comments

You've made the runs to the grocery store for the bottles of water, bread, and PB&J. But when it comes to natural disasters, you need to consider your financial preparedness as well.

It's not new news that hurricane season is here. The weather channel, our weather apps, and friends up North have made sure we don't forget. But hurricane season isn't just about being prepared by storing up on non-perishable foods, batteries, bottles of water, and having an evacuation plan. You financially need to be prepared and ready for a hurricane, especially here in the Lowcountry. Now that we have had a taste of our first hurricane of 2019, we need to remember that one could be on its heels. Hurricane season isn't over until November. So, you still have time to get prepared.
It goes without saying that yes, you need to make sure that your home and family are safe and prepared for anything. Make sure your home is stocked with what you'll need to get through a storm if you're going to stay. Follow all of the safety precautions laid out by local officials and police, and make sure you make informed and safe decisions. Your safety and the safety of your loved ones and pets are the first things that need your attention.
But these precautions need to be taken care of even before the hint of the first hurricane appears. Taking care of your financial needs ahead of time will help eliminate stress, worry, and truly help you when a storm does arrive. Here in the Lowcountry, it's not a question of if, it's when.

Make sure you understand all of your insurance policies, your deductions, and know what is covered and what will not be covered.
Make sure you have all the correct forms of insurance. Some forms of homeowners insurance DO NOT include flood insurance. If you live in a flood zone, make sure that you have flood insurance included or have flood insurance.
Have your car and home service and inspected ahead of time. You need to have a safe and reliable car to help evacuate at a moment's notice, and paying for repairs on the road during an evacuation can be a nightmare or not even a possibility. Paying for your home to be serviced and repaired ahead of time can help prevent damage and help save you money.
Consider having a credit card used ONLY for hurricane needs. Build up the credit line when you first get the card so you can cover any unknowns that a hurricane could cause. From getting a hotel room, extra groceries, or home repairs, you will know you can cover these needs no matter what happens.
Make sure all of your important financial documents are stored in plastic bags and even wrapped in plastic to add another protective layer. Consider a fireproof box that can be carried out of your home with you to travel with or in a state of emergency.
Just in case the worst does happen, always have and carry with you copies of your most important documents. These documents include:
- Drivers license, your SSN card, birth certificates, copies of your children's identification, deed to your home, property tax information, car ownership, will and living will, estate info, power of attorney, lease for your rented properties and vehicles, proof of pet ownership, insurance papers, and any other important financial and tax document.
Make sure your banks and any other business you pay a monthly amount to are aware of the situation at hand. More often than not, these establishments will be willing to work with you in these situations as long as you alerted them ahead of time.
Have an emergency fund or savings account for times like these.

Go beyond a hurricane fund or credit card. Have a budget in mind. With your everyday budget and salary in consideration with this, make a plan for the amount that you will need to spend on essentials. This includes the stocking up and hunkering down of your home and also if you do plan on evacuating. That will include hotels, travel expenses, and food. Depending on the outcome of a storm, you might be away from home longer than expected. Be financially able to support that!
Last but very not least, keep cash handy! ATMs might be down or unavailable after a storm. You might not be able to get cashback at a store or even get to the inside of your bank. Make sure to have a safe stash with you or ready to go when you evacuate. Most plan for at least 72 hours worth of lodging, food, and travel expense. So start with that amount, and go from there.
We hope this information is helpful for this year's storms and for many storms to come. Now that we've had the taste of our first one you have time to get prepared for the next hurricane. But as you do so, don't panic. If do just a few of these main points, you will be ahead of the game. Please stay smart, safe, and prepared this hurricane season!

0 Comments

Hoods Tax & Accounting Blog

Saving Pennies for Turkeys!

Being Financially Prepared for a Hurricane

Author

Archives

Categories