Treat Your Valentine - On A Budget!

 

Valentine’s Day 2015 netted a whopping 18.9 BILLION dollars! Whether you think that’s crazy or not, odds are you probably contributed to a bit of that spend in one way or another.  Did you treat your loved one, your best friend, your dog, or yourself last year?  If the answer is yes, and you are planning on doing something special again this year consider these ideas to treat your valentine without breaking the bank:

·         Giving flowers?  Not surprising, the largest chunk of change spent on Valentine’s Day is on flowers.  Get the most value from the petals you choose by selecting a less popular bloom.  Roses are beautiful, but choosing a more unusual but still beautiful flower on Valentine ’s Day can save you big.  Make sure you inspect whichever flowers you choose for stale or less than energized petals to get the most out of the bouquet you give after the holiday passes.

 

·         Cook Your Fancy Feast At Home – One of the biggest areas that you can save not only on Valentine’s Day, but every other weekend too is as easy as getting creative in the kitchen.  Make your Valentine’s favorite meal together and enjoy a meal together in the comfort of your own home.  Switch it up from any other dinner by taking your feast to the living room or another room out of the ordinary to make the evening feel more special!

·         Pampering your pooch? Try homemade treats instead!  Don’t forget your furry family members this Valentine’s day!  If you want to show your family pet some love on a budget this Valentine’s Day, try some homemade treats in their favorite flavor.

                                                                                                                      

How else are you saving pennies this Valentine’s Day?  Let us know!  Don’t forget to follow us on twitter @honorcu and let us know what you want to hear about next week using #askhonorcu! 

Most Common Budgeting Mistakes

It’s no wonder that January is the number one month for people to begin new financial endeavors, and nearly a third of people surveyed by GoBankingRate said their 2016 goals include “saving more and spending less.” At Honor Credit Union, this is music to our ears, as we love helping members save their money! BUT the big question is HOW are these people going to stick to their budget and be financially successful? By having a fail-proof budget in place, and knowing what the most common budgeting mistakes are and how to avoid them!

Here are the top five mistakes (and how to avoid them!):

1.      Failing to set a realistic budget- Many times, people feel overwhelmed by how long it takes to tack expenses and set a budget. Make time to sit down and tackle this project, as it will only help you in the long run.

2.      Using the exact same budget every month- This is a big mistake, as expenses differ each month, depending on holidays, birthdays, vacations, energy costs during warmer or cooler months, or unexpected home or auto repairs. Plan each month one month ahead, so you can make be sure to allot money for these particular expenses that aren’t recurring.

3.      Never allowing for wiggle room-  If your budget is too set, as in every penny is set aside for some specific expense, you won’t have anything left to pay for that unexpected car repair or other surprise expense. Be sure to set aside some money for these extra expenses.

4.      Relying on credit cards- If you’re relying on credit cards to make payments on necessary expenses, but then failing to make payments towards the cards themselves, you’re just digging yourself a huge debt hole that you may not be able to get out of. To avoid this, use cash only for the first few months of your budget so you can see where the money is going.

5.      Quitting your budget too soon- Many times, people will stick to their budget for a couple of months, then quit. Don’t do this! Successful budgeting takes time. You need to mess up a little in order to figure out what you really need each month.

Remember- if you stick to your budget as closely as possible and make budgeting a part of life and a long-term commitment, you’ll ultimately end up financially successful!

Don’t forget to follow us on twitter @honorcu and let us know what you want to hear about next week using #askhonorcu! 

To hear 97.5 Y-Country's Mark Durocher and Honor's Kaylee Williams talk about New Year's Financial Resolutions, click on the Mason Jar Monday episode below!