Media City Credit Union, a local financial cooperative who returns its earnings back to its Member-Owners, focuses on helping people and giving back to its community through every season. From spooky costumes in October to turkey dinners in November and gift-giving in December, the holiday season can bring joy, and financial stress. MCCU encourages members–and the community–to take small but impactful steps to make the season brighter without overspending. With a little planning and creativity, you can spread holiday cheer while also keeping your wallet happy.
Seasonal spending habits are important to keep track of and the traditions of the holiday season often require a large amount of one’s annual budget. Here are some practical tips for stretching your budget and keeping your spending in check while still making memories:
- Make a holiday budget early. Decide how much you can realistically spend on gifts, meals, travel, and seasonal events. By writing these spending goals down, you stay accountable in regards to your budget.
- Separate your holiday savings. Open a dedicated holiday savings account or create a digital “holiday fund” that you can contribute to throughout the year. Even small amounts can add up, and keep you from dipping into your everyday budget. Bonus tip: set up automated savings transfers that are recurring each payday, directly contributing to your holiday savings fund.
- Share the joy (and the costs). Hosting a big family gathering? The cost for food, activities, decorations, etc. can be overwhelming if you take it on alone. Instead, share expenses by making the event a potluck or rotating who hosts. The season feels even more special when everyone contributes, and people often love to share their favorite specialty dish!
- Create your shopping lists with intention. Whether creating a grocery list for holiday meals or a shopping list for gift-giving, it is important to make a list before shopping and stick to it. Be mindful about the items you want to purchase and plan accordingly to avoid overspending. Sometimes you can even make purchases ahead of time to take advantage of timely sales on particular items. Last-minute or impulse purchases often break the budget.
- Give the gift of time. Every gift comes from the heart, but not every gift has to come with a receipt. Handmade items, DIY costumes/decorations, shared experiences, or volunteering together are a great way to create lasting memories without high costs.
- Take advantage of credit union resources and tools. Credit unions like MCCU offer several budgeting resources to help members plan ahead and utilize benefits. Connect with MCCU about skipping a payment during the holiday season, refinancing options, low-interest credit options, and making the most out of your holiday savings.
- Plan holiday travel ahead of time. Holiday travel is notoriously known for being more expensive than other times of the year. In addition, seasonal activities like pumpkin patches, fall festivals, or holiday events often accrue extra costs. Plan ahead by booking flights early, carpool if driving long distances, celebrating locally, using rewards points, and comparing travel and hotel costs across several sites. Even small savings can add up during the holiday rush. You can find deals for members only through Recreation Connection on our website at: https://mediacitycu.org/benefits/. In addition, try to book travel months ahead of time in order to find the best deals. Simply staying on top of your budget and planning ahead can create the most savings for the season.
- Mind the extras. Decorations, wrapping paper, shipping costs, and party supplies can all sneak into overall budgets. Avoid surprise extra costs by buying in bulk, reusing decorations, or going eco-friendly with reusable gift bags.
- Use credit wisely and track your spending in real time. Credit cards can offer great rewards and other deals throughout the year, but it is important to use your credit wisely to avoid any extra fees or debt. Look for a low-rate credit card or loan options if you need to finance larger purchases, but avoid high-interest debts.
At MCCU, we know the holidays can be both joyful and stressful. That’s why we encourage members to plan early, save and spend intentionally, and lean on the tools we provide to make the season brighter without the financial burdens. With thoughtful planning from Halloween through New Year’s, families can focus on connection, tradition, gratitude, and celebration– instead of worrying about bills in January. To learn more about us and other services offered at Media City CU, reach out to our team or visit our website at mediacitycu.org.
About Media City Credit Union
Media City Credit Union has served its members since 1936 when we were founded by
employees of Helms Bakeries. A credit union is like a bank, only better. Media City offers checking, savings, credit cards and loans, yet profits are returned back to members in the form of reduced fees, higher savings rates and lower loan rates. Media City CU is a financial cooperative, giving back to its member-owners.
The credit union provides fee-free access at 75,000 ATMs worldwide and provides online account access. If you live, work, worship, or attend school anywhere in Burbank, or if you have a relative who is already a member, you can become a member too. As soon as you join, your family members also become eligible. Media City CU partnered with the ChangeWorks Foundation and by making a minimum $25 donation to this wonderful cause (Media City matches the $25 donation), you also become eligible for membership. New members enjoy immediate access to all services, including loans.
