Six Ways to Prepare Your Finances for the Holidays

Written by Excite Credt Union | Nov 14, 2025 6:25:20 PM

This season is meant to be joyful, but it can also be one of the most expensive—and stressful—times of the year. However, with a bit of holiday financial planning, you can spend wisely and focus on what truly matters. Here are six ways to prepare your finances for the holidays.

1. Review Your Financial Situation 
Knowing where you stand helps you make informed decisions that set you up for success. Ask yourself:
  • How am I on track, and where do I need to adjust to meet my goals?
  • What upcoming expenses will I have in the new year, such as insurance or tuition?
  • Where can I reduce spending or pay down debt before the season begins?

🎁 Take BALANCE’s two-minute quiz to discover your financial health score, and get suggestions for improving your financial well-being. Tap into the many resources that BALANCE offers Excite Members, such as personal coaching, interactive e-learning, and practical webinars.

2. Make a Holiday Budget that Works for You
List your expected costs—gifts, travel, food, and decorations—and assign a spending limit to each category. Ask yourself:
  • How can I balance generosity with financial responsibility this year?
  • Have I remembered small expenses like wrapping paper and postage?
  • Am I spending thoughtfully—or out of pressure?

🎁 Need some holiday budgeting tips? The Banzai! coach session Create a Holiday Budget is a great place to start. Explore all the coaching sessions, calculators, and financial education resources available for Excite Members through Banzai!

3. Find Ways to Reduce Holiday Spending
Look for areas where you can trim costs without sacrificing the joy of the season. Ask yourself:

  • Can I decorate for Christmas or Hanukkah on a budget by using what I already have?
  • Can I host a potluck-style gathering, instead of a formal dinner, to share food costs?
  • Are there presents or experiences I can give that are meaningful and budget-friendly?

🎁 Give the gift of memories this season by exploring free local events—like tree lightings, craft fairs, and volunteer opportunities—through your city’s event calendar.

4. Prepare to Track Your Holiday Spending
Keeping track of expenses as you go prevents surprises and makes it easier to adjust before things get out of hand. Ask yourself:
  • Am I logging purchases as soon as I make them?
  • Would using one credit card for all holiday purchases make tracking easier?
  • Am I reviewing my spending weekly to see where I might cut back?

🎁 Use Excite’s Online and Mobile Banking tools to monitor your account balances and transactions in real time. 

5. Plan to Use Credit Wisely to Avoid Holiday Debt
Managing your balances and making timely payments protects both your credit score and peace of mind. Ask yourself:
  • How much of my available credit am I using right now?
  • Can I pay off the charges, and do I have a plan to do so?
  • What advantages could an Excite credit card offer over store financing this season?

🎁 Check your credit score with SavvyMoney. As an Excite Member, you can use SavvyMoney’s tools to review your credit report, get personalized insights, and build stronger credit.

6. Embrace Gratitude 
A grateful mindset helps you value connection rather than consumption. Ask yourself:
  • How can I show appreciation through thoughtful gestures?
  • Am I cherishing the people and moments that make this season special?
  • What can I do to enjoy this season more fully?


🎁 Plan to unplug—put the phone down, step away from social media, and be fully present with those who matter most. Gratitude is the best gift you can give yourself.

Celebrate the Season with Financial Peace of Mind
With a little intentional holiday financial planning, this time of year becomes less stressful and more joyful. Excite Credit Union is here to help you prepare your finances for the holidays—so you can focus on celebrating the season, not paying for it later. 

 
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