Happy Thanksgiving! From everyone here at Ruoff Mortgage, we hope you had a great day. Now that Thanksgiving has come and gone, many of us will turn our attention to the winter holidays ahead. With these holidays, however, comes more expenses. From gifts, to decorations, to trips to visit family, the expenses can really add up. Not to mention, you’re still responsible for all of your other bills of course, including – and especially – your mortgage payment.
So, how can we survive the holidays and still use our money in a smart way? Here are some budgeting tips for the holidays so that when the holidays are over, you won’t be derailed with your other expenses, like your mortgage payment.
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Spending on the Holidays
– When you’re thinking about the holidays, be mindful about what is actually worth it to you to spend your money on. With holiday decorations and toys being advertised to us since early September, we must stop and really think about what new holiday decorations we want this year and what new toys or gadgets are best for us and our loved ones before we find ourselves trying to sell or give away our extra or unwanted items at a garage sale come July.
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Continue Saving during the Holidays
– While it may be tempting to stop putting away a certain amount of your paycheck into your savings during the holiday season, your future self will thank you when you continue putting that money away. Having some savings built up is vital for your financial freedom and for a clear mindset. When you least expect it, you will need your car serviced, repairs on your house will pop up, or any other number of things will need a surprise payment. Continue saving even during the holidays.
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Utilize Thrift Stores and Consider Borrowing
– Not only is it better for the environment, but it’s also better for your wallet to utilize thrift stores and friends for holiday decorations and even wrapping. Thrift and antique stores often have a wide variety of decorations for you to select from at reasonable prices – and bonus – they are usually much more unique and whimsical than decorations you can get at your everyday big box store. If there is something you need in particular, like a ladder for decorating or even extra decorations themselves, ask your friends and family if they have anything you could borrow. No need spending your money on something you will only need for a short while.
The holidays are officially upon us. But don’t let all the advertising convince you to make bad financial decisions.
Need more tips on how you can save your money for a down payment, closing costs on a refinance, or how to meet your specific goals? Talk to a Ruoff loan officer today.
About Ruoff Mortgage
At Ruoff Mortgage, we understand that buying a home is one of life’s biggest moments – not just as a financial decision, but a personal one. For more than 41 years, we’ve proudly helped families turn their dreams into reality. From our roots in northeast Indiana to now serving homebuyers throughout the Midwest, our focus has stayed the same: delivering exceptional service rooted in care, speed, and community. With an average 15-day clear-to-close time, our team is here to make your journey to homeownership as smooth and stress-free as possible. When you're ready to take the next step, we’re here to walk with you, every step of the way.