2 The Hampton Roads Messenger


Volume 7 Number 3


November 2012


Budgeting for the Holidays — Smart Spending for the Season


CALL TODAY & LOWER YOUR MONTHLY PAYMENT!


APR*


**


BY VIRGINIA SCPA The countdown to the holiday


season has officially begun with decorations on store shelves and gift catalogs filling mailboxes. A recent study by the Consumer Electronics Association shows that consumers plan to spend $1,634 overall this holiday, up 11 percent from last year. Unfortunately, much of that spending will be done on credit cards. That may make consumers feel gloomy when they get their bills in January.


“Smarter money management” is


*Rates based on creditworthiness, so your rate may differ. Existing LFCU loans not eligible for this offer. Payment example: Loan amount of $20,000.00 at this 1.49% APR for 72 months would have monthly payments of $14.53 per $1000 borrowed. No other discount applies. This rate applies to 2007-2012 year models. Rates and terms are subject to change at any time without notice. Rate includes premier discount.


a common New Year’s resolution for many people. So why not get a jump on things now by budgeting and spending wisely this holiday season? The Virginia Society of Certified Public Accountants (VSCPA) has the following advice to develop a spending plan to keep you on


track and keep you from drowning in post-holiday debt:


• Create a spending plan. What


can you realistically afford to spend? Decide who you will buy gifts for this year and how much you will spend on each person. Then stick to your plan.


• Categorize your spending plan.


Your holiday spending plan shouldn’t just include gifts. Don’t forget to account for all of the “accessories” that accompany the holiday gifts like wrapping paper, bows and tape. Doing some entertaining this year? Then be sure to budget for party clothes, decorating, food and beverages. Traveling to see family? Airfares, gasoline, hotels and meals should all be included in your holiday budget plan. Don’t forget a category for any charitable giving you usually do, as well. Holiday cards and postage are also often overlooked as HOLIDAY BUDGETING PAGE 6


NOVEMBER 2-4, 2012: NEKOCON 15 A Japanese anime convention featuring cosplay, L.A.R.P., panels, workshops, contests and merchandise. NOVEMBER 9-11, 2012: BODACIOUS BAZAAR Featuring works and products from over 200 vendors and artists just in time for the holiday season. NOVEMBER 24, 2012: SOUTHEASTERN GUNS & KNIVES SHOW Discover a variety of models and accessories from a wide array of vendors. NOVEMBER 28, 2012: HALLS OF ART X EXHIBITION Enjoy a wide array of artwork from local artists on display at the HRCC.


Hampton Roads Convention Center


PEOPLE HAVE Gathered HERE FOR OVER 400 YEARS. COME JOIN THE GROUP. 800.800.2202 VisitHampton.com


UPCOMING EVENTS


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