Holiday Spending Tips: Lauren Piehl Shares Budgeting and Scam-Proofing Advice

By-Hank Stolz

Photo- Canva Licensed

WORCESTER, MA– Lauren Piehl, Bay State Bank, provides financial empowerment reminders for the upcoming holiday season. Piehl emphasized the importance of creating a comprehensive budget that includes not just gifts, but also travel, celebrations, and other miscellaneous expenses. She discussed the difficulty of sticking to a budget due to emotional and social pressures, the negative consequences of overspending, such as high-interest credit card debt in the new year, and the necessity of being vigilant against holiday-themed financial scams. Sticking to a pre-written budget was a key discipline to prevent overspending, despite the temptation of sales and the emotional desire to buy more for loved ones.

Overspending on credit cards often led to high-interest debt in January, which undermined new year’s financial goals and savings plans. It was essential to stay alert for holiday scams, such as phishing emails and fraudulent text messages, which prey on people’s sense of urgency during the season. When faced with a potential scam or urgent request for money, one should always pause, reflect, and consult someone else before taking any action.