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October 12, 2018
How to Make a Spending Plan for the Holidays (And Stick to It)
When we talk about plans for the holidays, we usually mean the time we plan on spending with family and friends. Spending money? That goes without saying, and most of us go crazy, dropping an average of $900. No surprise, we break out the credit cards and ring in the New Year, in debt.
Sound familiar? Let’s break the cycle. Here’s a simple, six-step plan for saving your sanity and your money this holiday season:
- Open a Grow Club Account, Like Today. Here, you just make small, regular deposits as you save for the holidays or any special occasion, and with Payroll Distribution, the saving is automatic!
- Make a List of Expenses. This is the first list you draw up, before your gift list. Remember, holiday trimmings cost money, too… wrap and bows, cards, office parties. It’s easy to overlook all the little things that add up to big money.
- Set a Spending Limit. This is your reality check. Look at your regular, monthly spending to figure out how much you can really afford for holiday shopping.
- Make a Gift List. Okay, now you know what you can spend on each person. Next, compare prices and shop the sales. And be strong! Over spending is oh so tempting. The list rules.
- Layaway. Yes, layaway lives! In fact, it’s been making a big comeback. Most major retailers offer both in-store and online layaway payment plans. Be sure to check the policies first, for applicable fees.
- Pay by Debit Card. In other words, cash only. Put the credit cards away. Use the free Grow CardManager app to track spending on your Grow Visa® debit card, and if you’ve got Grow CashBack Checking, you’ll earn 5 cents back with every purchase.* So, you can ring in the New Year with change in your pocket!
Plan it Forward.
Once you get started, planning becomes like any good habit – it just comes naturally. And planning for holiday spending can be the start to planning financially, for the rest of your life.What about you? Any tips on making a holiday spending plan? We invite you to share it with your Grow family!
Insured by NCUA
Grow savings accounts and Grow checking accounts are subject to ChexSystems® approval.
*Some restrictions apply.
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How to Find Your Routing & Account Numbers
When you make a payment online, by phone or on a mobile device, you may be asked for our routing number and your checking account number. Credit unions and banks use these numbers to identify accounts and make sure money gets where it’s supposed to be. You’ll also need to provide your routing and checking account numbers for:
- Direct deposits
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Where to Find Your Routing & Checking Account Numbers
Your personal checks include both our routing number and your account number, as shown on the Grow check example below.
Don’t have a Grow check? No worries.
Visit any Grow store and ask for a Direct Deposit Form. It lists both your routing number and checking account number.
Making a Loan Payment
When it comes to making payments, we try to make it as painless as possible to pay your loan every month. We have several different ways to pay, including convenient online options.
Pay Online
You have two ways to pay online by transferring funds from another bank or credit union.
- Grow Online Banking (Preferred payment method for any loan)
This is the simplest way to pay your loan. You can make one-time payments or set up automatic recurring payments in Grow Online Banking. Once you log in, select “Transfer/Payments” from the menu. If you’re not enrolled in Grow Online Banking yet, you can set up your account in just a few minutes.
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- Debit Card or ACH (Available for auto, personal loans and HELOCs)
Note: ACH and debit card payments are not available for credit cards or most mortgages, except HELOCs.
We accept ACH payments with no additional fees or Mastercard® and Visa® debit cards with a convenience fee of $4.95. To get started with an online ACH or debit card payment, select Pay Now below.
Pay Now
Pay by Mail
You can also pay any Grow loan by check through the mail. Please remember to include your account number and Grow loan number on the check. (For credit card payments, please do not write your 16-digit credit card number on the check, which can cause a delay in processing the payment.)
Address for auto, credit card, personal loan and HELOC payments:
Grow Financial Federal Credit Union
P.O. Box 75466
Chicago, IL 60675-5466Address for personal first or second mortgages and home equity payments:
Grow Financial Federal Credit Union
P.O. Box 11733
Newark, NJ 07101-4733You Are About To Leave GrowFinancial.org
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