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‘Tis the season… To avoid overspending and dampening your Christmas cheer, follow our 4 tips to keep your Christmas budget on track. Christmas budgeting tips - Put money aside A separate Christmas club account is a great way to put aside money for the festive season throughout the year to alleviate the pressure of coming up with hundreds of dollars out of nowhere come November/December. Make a list and check it twice Making a list and allocating an amount to spend on a gift per person will give you a starting point before hitting the shops. Making a list is great for other things you need like entertainment supplies such as decorations, food and drinks. Discussing what a reasonable Christmas budget looks like with your significant other is also a great way to remain accountable for your spending. Encourage Christmas gift hacks Secret Santas and only buying for kids, or setting a firm limit with family and friends is a great way for everyone to keep their Christmas affordable and stress free. Shop smarter If you’re not strapped for time you could shop for next year by lay-buying more expensive items now. Take the time to research your gifts online and search for discount coupons and codes to apply at the checkout. Try and buy a few items from the one place to avoid multiple delivery fees. Track your spending Using a budget calculator to keep a record of your Christmas spending will help you to keep your spending relative to your usual expenses. Christmas shopping on credit Buy now pay later services have become increasingly popular with consumers, and are a tempting way to pay off larger purchases. Be aware of how they work to avoid interest and late payment fees. If you’re thinking of increasing your credit limit on your credit card, consider how quickly you can pay off the extra purchases, to avoid extra Christmas debt well into the following year. Get in touch with the friendly team at your local Horizon Bank, to discuss how to manage your money over Christmas. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Want to learn about some key tips to save money for future spending? In this blog we’ll go through establishing a budget, creating short term savings goals, setting up your savings and checking your credit report. These are key practices to get in the habit of for an effective savings plan that teaches you how to save money. Establish your budget Get in the habit of tracking your spending by asking for a receipt for everything you purchase. You can then input your expenses into our budget calculator which will show you if you are ahead of your savings or if you’re in the red. The best way to save money is to identify where you can cut back on expenses and redirect that money into savings. Identify where your money is going each month by checking your direct debits on your statements. A good saving tip is to double check your regular payments to loans and credit cards for accuracy to make sure you’re paying the correct amounts. Aim for short term savings goals Setting aside a certain amount at regular intervals is one of the best saving tips you can implement. Base this off how regularly you are paid from your employer. Weekly, fortnightly or monthly deposits into a savings account will help you reach that savings goal for a new TV, car, holiday or whatever it may be. Short term savings goals will keep you motivated and on track. Make sure they are SMART goals – specific measurable, achievable, realistic and timely. People have more success with a savings plan when saving for long term items but starting with short term goals. Set Up Automatic Savings Every pay have your employer split a certain amount of your pay and transfer it to a retirement or savings account. Horizon does this in the form of a payroll split. We can split your pay so nominated amounts go into different accounts. This is the most effective way to save, as it puts extra cash out of sight and out of mind before you can spend it. Once you have your automated savings setup, you can then use a savings calculator to estimate how long it will take you to reach your savings goal. Plan gift-giving well in advance Keep a birthday book, or calendar for family and friends birthdays so you know when everyone’s birthday is coming up. This is the best way to save money on birthday presents, as you can take the opportunity to look for items on sale. Avoid impulse buying when it’s left last minute; take the time to choose a gift within your budget that the recipient will appreciate. Check your credit report once a year It is advantageous to have a good credit score when applying for a loan. A credit report tells lenders how trustworthy you are as a borrower and assists with your loan application. Keep track and make sure the information on your file is not outdated as this could impact your ability to apply for loans. Certain sites provide one free credit report a year. Check out the Australian Government website for more information. If you’re looking for more information on accessing a credit report, or want to know how yours will impact your loan application, feel free to give us a call and we’ll be happy to answer your questions. If you need some extra help with your overall planning and saving goals Get in touch with the friendly team at Horizon Bank today and let us help you on your savings journey. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Moving in with a partner? Read our top tips for living in financial harmony. So you’ve decided to take the leap and move in with your partner? Congratulations on this big life step! After looking for a place to live, the next thing on your agenda should be to discuss sharing finances with your partner. Set expectations It’s time to be realistic about what type of spenders you are. If you’re savvy with your money and a great saver, whilst your partner is a little more carefree with their spending, you may need to discuss what you expect from each other financially. For example, if you’re not ok with late rent because your partner overspent on their last shopping spree, it’s best to bring that up early on. How to budget and save Let’s face it, everything costs money! Bills, food and insurances are just some of the expenses you’ll need to save for. Use our budget calculator to get an idea of how much you need to put away to cover your outgoings. Create a simple spreadsheet with all of your expenses and any income to see what you’re left with at the end of the month. Open a joint account The key is to decide what this account is for. Is it for paying bills? Is it for dining out and entertainment? You both need to decide how much you’re willing and able to contribute to your combined funds. Be clear on the purpose of combining your money so you can keep each other in check. Horizon has a range of savings and access accounts so you can get the most out of your money. Check out our best everyday accounts for young couples. Credit or savings? How will you make everyday purchases? Are you an avid credit card user or do you save for everything you buy? Whatever your method, let your partner know so this can be factored into your budget. Thinking a credit card is the way to go? Check out our low rate, no annual fee Visa credit card. Make it fun Don’t forget to treat yourself every once in a while. Dinner and a movie or buying those concert tickets will feel even more rewarding when you’ve been saving together. Living with a partner is a new and exciting experience. Whatever your financial outlook, open and honest finance conversations are key for financial (and relationship) harmony.  Thinking of moving in with a partner? Check out our range of savings accounts to get you started on your journey. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Sorting out your money before you go What is the best way to take money overseas? You have a few different options. Rather than just relying on cash, consider taking a cash passport or travel money card too. Your own visa debit or credit card can be taken as well for extra flexibility when it comes to paying for things. Plus, having back-up options for lost or stolen cards is always a good idea. Keep an eye on exchange rates leading up to your holiday, then order foreign cash or load up your travel card when the exchange rate is in your favour. With some clever timing you may be able to make your dollar stretch that bit further. This is particularly for those currencies that are worth more than the Australian dollar, such as the British Pound or Euro. Consider the fees and charges While no one wants to have to worry about fees and charges, it’s important to remember that if you pay for things on your debit or credit card oversees, you may pay more than you think. Overseas merchants tend to charge a higher conversion rate for the trouble of converting your money into their currency. Check with us about the costs of using your card for overseas eftpos purchases and in foreign ATMs. Talk to us about travel insurance Without travel insurance, cancelling your holiday due to sickness or injury means you’re unlikely to get back any money you’ve paid so far.  What you’re getting up to on your holiday is also important. Make sure your policy includes cover for dangerous sports if you’re planning on skiing, skydiving or taking part in any other adrenaline filled activity. Get a quote online here. How about those bills? Missing a bill while you’re on holiday can lead to late fees. Or in extreme circumstances, stopping services all together if payments are frequently late. Take the hassle away by setting up direct debits before you go. Tell us before you go By letting us know you’re out of the country and where you’re going, we’ll know it’s you conducting those international transactions. We’ll continue to keep an eye out for any suspicious activity on your accounts and credit cards while you’re away. Looking for more money advice for your overseas trip? Get in touch with Horizon Bank today and let us help you on your journey. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Car buying advice made easy Car buying is often made easier if you can take someone with you who is experienced in the matter. Trusted persons such as parents, friends or relatives are a good example. The internet is full of car buying advice, good and bad! We’ve made a simple car buying checklist you can follow when looking for a new set of wheels. Buying a used Car Buying a used car in NSW? Check out car buying sites online where you can select different makes, models, prices and set the location you’re looking to buy in. Set yourself an amount and stick to it! Be prepared to negotiate on price Don’t be afraid to ask the owner for a test drive You may be thinking, what do I need to take to buy a car? Consider the following; Your driver’s license A small cash deposit to assure the seller you’re serious and to prevent them from selling the car to anyone else A reference or credit check from your financial institution to say you have good credit history. (This is only if you plan to get finance from the car dealer) Buying a new Car The lists are much the same, however if you have the time, visit a few dealerships and ask if any extras and upgrades will be included in your car purchase price. Car salesmen will straight up ask you how you’ll be paying for your new car. ‘Cash is King’ still reigns true and paying by cash will give you higher bargaining power. However if you’re needing a new car loan do your home-work and look around for the best car loan rates. Horizon’s car loans are competitive and have a low establishment fee. Do a car loan comparison and enquire about Horizon's car loans.  After you’ve bought your car Motor vehicle insurance and a Green slip are the next things to purchase before you get your car on the road. You don’t have to purchase comprehensive car insurance, but it is the best option for peace of mind that all parties will be covered in the event of an accident. Check out the different levels of motor vehicle cover.  Getting rid of your old car Now, what to do with your old car? Trading-in may ease the hassle of trying to sell your car privately but you'll normally get more for your car that way. Unfortunately, if you’re buying a new car, dealerships do not usually offer you a great deal for trade-ins. Finally, don’t forget to submit a notice of disposal for your old car so the Road’s and Maritime service know you’re no longer the owner. Let us help you on your journey. Get in touch with us today to discuss our car loans available to you. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank. 

There are a few credit card tips and tricks for those of us using a credit card for the first time. We’ll talk through some of the do’s and don’ts to make sure you’re using your credit card wisely. DO: Keep track of your spending Whether this is in an app, receipt diary or simple excel spreadsheet, find a method that works for you so you’re aware of your outgoings. This is also a great exercise for budgeting purposes. Pay off your credit card on time A good financial institution will do more than just approve your credit card application. They’ll explain to you the statement cycle and how the interest free period works on purchases. When you receive your statement, take note of when your repayment is due and pay early to avoid extra interest or overdue fees. Ask your financial institution to set up a direct debit or a payroll split so you don’t have to make a manual payment every month. Maximise your credit card repayments Paying more than your minimum monthly repayment is always a good idea to bring down your outstanding balance (often referred to closing balance on your statement) and pay less interest over time. Use our budget calculator to see how much you can afford to allocate on repayments. Set the right credit limit Again, a good lender will correctly assess your ability to repay your credit card repayments and will assist you in choosing a suitable credit limit that won’t tempt you to overspend. A good rule of thumb to avoid getting into more debt is to spend less than you earn. Check your credit card statement Statements are a great visual tool to see how much (and how often) you’re spending money. Always check your credit card statements for anything that looks unusual, and if you see something that doesn’t look right, contact your financial institution immediately. DON'T: Increase your limit if you don’t strictly need to If you need to make a large purchase sooner rather than later, pay off that purchase as soon as your can then bring your limit back down, to avoid more debt. Make cash advances a regular habit Examples of cash advances are things like using your credit card to withdraw money from an ATM. Your financial institution should provide you with a list of what they consider to be cash advances on your credit card. These transactions can be charged at a higher rate and attract fees for the convenience of accessing the cash quickly. Use credit to get by A good thing to keep in mind is to use a credit card for things like emergencies and travel. Unfortunately, living off credit without controlled spending and repayments can land you in more debt in the long run. Allocating a portion of your income for bills, food, rent/mortgage and savings takes practice and self-discipline but services such as financial counsellors can help with managing your finances. See ASIC’s Money Smart website for information on financial counsellors. Looking for smart advice on how to use a credit card? Get in touch with us today. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

In this blog we’ll look at money saving tips that are useful for a growing family. It is always a good idea to take a look at your finances and work out how to better manage your money and maximise your savings. As your family grows, so do your expenses and outgoings. We’ll provide some practical ways to reduce your spending and save money.Below are some simple tips for ways to save money.         Set a goal for what you’re saving for Decide what you’re saving for, how much money you need to save and by when. Whatever it might be, saving for a purpose feels good and is easier when you have a clear vision for your money in mind. Be sure to make it realistic to avoid disappointment. Keep reading below for different ways to save money. Use a budget planner calculator Budget calculators such as ours are great for a simple representation of your income and expenses designed to help you get a clearer picture of your finances. Check out our budgeting calculator. You could also try a budget planner app or personal budget planner. There are free versions of these tools online and they get you in the habit of tracking your spending. It also helps you understand where you’re spending and where you might save money by switching or eliminating.   Look for alternatives To save money, you will need to get creative and look for alternative ways to fund certain activities. Try going for a walk or jog rather than paying for a gym membership. Try buying non-perishable items in bulk and take advantage of cash back schemes such as return and earn. Comparing insurances and electricity/gas suppliers is a good way to make sure you’re always getting the best deal. Set up a savings accountA savings account with a great interest rate that encourages you to save money is a big help. Check out Horizon’s Reward Saver account to get started. It is easy to open an account online and deposit funds. Regularly putting money away into a savings account each time you are paid is also a key component to saving. Check your statementsGet in the habit of checking your statements monthly for transactions that are out of the ordinary – it’s a good security practice. Every six months, check for memberships to clubs and societies you’re not actively involved in anymore so they can be cancelled, as should any magazine subscriptions or repeat direct debits you’re not using.Change small habitsAnother money saving tip is to look for regular expenses you could be cutting back on as you’re checking your statements. Daily coffees and eating lunch or dinner out all add up at the end of the week. Look up simple recipes online that you can cook at home and make it a family activity by getting the kids involved. Get rid of un-wanted itemsNo matter what the season, it is always a good time to de-clutter. Take a look around your home for un-used or un-wanted items in good condition that could make you some extra money at a garage sale or online. Deposit any money you earn straight into a savings account, or allocate it to an upcoming expense before it is spent on anything else.Hopefully these simple money management tips have given you a good grasp on saving, and will help you to manage your money in future. Use our budget planner calculator to kick start your savings journey Need some extra help with reaching your savings goal? Get in touch with the friendly team at Horizon today and let us help you on your journey. Horizon Bank has a branch network along the South Coast and Illawarra: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong