Creating and Sticking to Your Holiday Budget

Spending more than you planned is easy to do during the holidays so Private Wealth Advisor, Katerina Simonetti from UBS Financial Services in Philadelphia joined us to share some tips!

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1) Your holiday budget should never exceed 5-10% of your after-tax income

2) Don’t do impulse buying. Have a plan, make a list, stick to your budget

3) Open a separate account and save during the year to have enough money for the holiday season

4) Take advantage of zero percent cash advance credit card offers, but be careful and pay off the entire balance before the special offer expired, or you will be charges interest

5) Use apps like Rakuten or special credit card offers to maximize your cash back offers

6) Surprise your loved ones with a gift of stock that encourages them to save and educates them about the stock market. Give your Disney lovers shares of DIS (don’t forget to order a souvenir stock certificate and frame it). Your Fortnite players will like shares of MSFT. Surprise your spouse with a share of AMZN or NFLX. Make it personal, make it special and enjoy the residual benefit - deep (and much needed) conversations about investing for your future.

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