Page 38 - Indulge October/November 2015
P. 38
Save
seasonfor the
Set up a budget to
avoid being a scrooge
at the holidays
38 | indulge • october/november 2015 By Linda Doell Embassy Bank for the Lehigh Valley Cunningham said. “For many, this can
has seven locations throughout Lehigh be accomplished through a mortgage
The holidays can be a frenetic and Northampton counties. refinance. A mortgage refinance
and fun-filled time of shopping, may also offer the additional benefit
dinners, parties and gifts given When setting up a holiday spending of providing extra cash for larger
and received. But getting caught plan, be sure to take into consideration household purchases.”
up in the spending of the season what expenses happen during the
without a plan can leave a holidays: gasoline, road tolls and other With mortgage rates still at
cold dose of reality with the new year, travel expenses; gifts for family, friends, historical lows, homeowners considering
especially if you didn’t keep track of all neighbors and others important in your refinancing their mortgages can still lock
the spending you did. life; the cost of making the holiday in a great rate and free up money in what
dinners; buying and sending cards; and they save in interest each month.
If this coming holiday season is other expenses.
like last year’s, consumers will be “Even those homeowners who have
spending more than ever before. The Once you have an idea of what refinanced in recent years can benefit
National Retail Federation said American you’ll spend money on, you can set a from a mortgage refinance today,”
consumers spent $616.1 billion during budget of how much for each expense. Cunningham said. “Be sure to carefully
last year’s holiday season, an increase Looking beyond the holidays, setting up interview potential lenders, asking
of 4.1 percent over 2013. The NRF a household budget is a gift to yourself questions not just about the rate, but
is a retail trade group that represents that keeps giving all year: You’ll be able other critical items such as closing costs
merchants in 45 countries. to track your money and control where and PMI.
it goes.
“The holidays tend to come upon “At Embassy Bank, our borrowers save
us quickly and many people try to Budgeting is very helpful when money every day with low-cost mortgage
squeeze holiday spending into their making bigger, more expensive refi’s, biweekly payments and no PMI.
normal monthly routine,” said Diane purchases like a vacation, new car, home No loan is never sold, so our customers
M. Cunningham, senior vice president remodel or a new house. always have a local contact ready to help
of Embassy Bank for the Lehigh Valley. with all of their banking needs. It’s what
“That’s why determining your budget “Reducing monthly loan payments true community banking is all about.”
before the shopping begins is critical.” is one way to free up cash for savings,”
seasonfor the
Set up a budget to
avoid being a scrooge
at the holidays
38 | indulge • october/november 2015 By Linda Doell Embassy Bank for the Lehigh Valley Cunningham said. “For many, this can
has seven locations throughout Lehigh be accomplished through a mortgage
The holidays can be a frenetic and Northampton counties. refinance. A mortgage refinance
and fun-filled time of shopping, may also offer the additional benefit
dinners, parties and gifts given When setting up a holiday spending of providing extra cash for larger
and received. But getting caught plan, be sure to take into consideration household purchases.”
up in the spending of the season what expenses happen during the
without a plan can leave a holidays: gasoline, road tolls and other With mortgage rates still at
cold dose of reality with the new year, travel expenses; gifts for family, friends, historical lows, homeowners considering
especially if you didn’t keep track of all neighbors and others important in your refinancing their mortgages can still lock
the spending you did. life; the cost of making the holiday in a great rate and free up money in what
dinners; buying and sending cards; and they save in interest each month.
If this coming holiday season is other expenses.
like last year’s, consumers will be “Even those homeowners who have
spending more than ever before. The Once you have an idea of what refinanced in recent years can benefit
National Retail Federation said American you’ll spend money on, you can set a from a mortgage refinance today,”
consumers spent $616.1 billion during budget of how much for each expense. Cunningham said. “Be sure to carefully
last year’s holiday season, an increase Looking beyond the holidays, setting up interview potential lenders, asking
of 4.1 percent over 2013. The NRF a household budget is a gift to yourself questions not just about the rate, but
is a retail trade group that represents that keeps giving all year: You’ll be able other critical items such as closing costs
merchants in 45 countries. to track your money and control where and PMI.
it goes.
“The holidays tend to come upon “At Embassy Bank, our borrowers save
us quickly and many people try to Budgeting is very helpful when money every day with low-cost mortgage
squeeze holiday spending into their making bigger, more expensive refi’s, biweekly payments and no PMI.
normal monthly routine,” said Diane purchases like a vacation, new car, home No loan is never sold, so our customers
M. Cunningham, senior vice president remodel or a new house. always have a local contact ready to help
of Embassy Bank for the Lehigh Valley. with all of their banking needs. It’s what
“That’s why determining your budget “Reducing monthly loan payments true community banking is all about.”
before the shopping begins is critical.” is one way to free up cash for savings,”
