Family and Faith Magazine (Christmas Edition) - Page 7

PARENTING SPENDING TIPS FOR Christmas D uring the Christmas season, it is common for many Jamaicans to indulge in excessive spending without utilizing a portion of their savings to reinvest for the future. At FHC we encourage you to maintain a financially savvy attitude that will motivate you to achieve your goals. We share with you five tips as you enjoy the holiday season. 1. BUDGET WISELY The sacrifices you have made throughout the year have now borne fruit and are ready for harvest. Do not spend all your savings and splurge unnecessarily during the festive season. Create a budget and itemize items such as home, gifts, events, debts, etc. Secure a minimum of 30% of your budget for long term savings. At FHC, our Golden Harvest and the Prosperity Plus Savings Accounts offer very attractive returns. 2. GET THE FAMILY INVOLVED Family is important and oftentimes their input is invaluable. Meet with them and discuss the budget. They can give you ideas on places to shop and disc