Avoiding Holiday Financial Stress
To help Angelenos of all backgrounds avoid financial worry during the holiday season, L.A. Controller Ron Galperin is sharing his top holiday financial tips to ensure residents stay financially healthy and secure now and throughout the COVID-19 crisis. These tips are part of Controller Galperin’s ongoing efforts to provide the public with helpful information that will lead to a solid fiscal future.
Here are Controller Galperin’s top five financial tips for the holidays:
- Set a budget. Review your earnings and expenses, and then decide what you can and are willing to spend on.
- Plan your shopping. Make a list and stick to it. This will keep you from buying unnecessary items and prevent overspending.
- Don’t buy it if you can’t afford it. PERIOD. It’s OK to just say no.
- Protect your identity. Monitor your accounts often, secure your devices, and notify your bank and credit card companies if you plan on traveling.
- Watch out for scams. This includes fake charities, online shopping schemes, fraudulent contests and sweepstakes. Seniors are prime targets of scams during the holidays. People of all ages should think twice before clicking and giving personal information away.
“While the holiday season is a time of joy and cheer, it can prove taxing as well,” said Controller Galperin. “These tips are intended to ease some of that unwanted worry of having to figure out how to afford gifts or keep up with traditions, along with the stress resulting from the pandemic’s impact on people’s finances and jobs. Despite these challenges, I hope that Angelenos can still enjoy a safe and merry season with their loved ones this year.”