Holiday Money Tips from Obopay

November 26th, 2008

Budget well and save money with Obopay.

Our economy may be stressed, but Black Friday is just around the corner and millions of people are starting to think about holiday shopping and gift-giving. Here are some helpful tips from Gregory Holmes, our President of U.S.-Based Operations, on getting through our “lump of coal” economy.  You can use Obopay to save money on sending gifts, keep track of expenses and more:

1. Create a budget for gifts and stick to it. Consider using a prepaid card for these purchases so you spend only what you have.

2. Be smart when helping friends and family. With Obopay, sending money to loved ones costs only 25 cents — less than a stamp — and saves the environmental impact of mailing checks.

3. Give your kids a budget for gifts, too, and show them how to keep track of their expenditures. With an Obopay account, you can send kids money for gifts right from your mobile phone.

4. Honestly evaluate your monthly budget and consider replacing name brands with generics where possible.

5. When traveling, have a loaded prepaid card with you to cover unexpected or unplanned expenses.

6. Don’t limit your shopping to malls — thrift stores, consignment stores, flea markets and classified ads on and offline yield a wealth of bargains.

7. Use the tools technology affords. Create an Obopay mobile account online and link it to your bank account to send and receive money anytime, anywhere, easily and conveniently.

It’s always nice to get wrapped presents, of course, but I really like the idea of sending cash over the phone instead of checks in the mail, saving my stamps for Christmas cards.  Besides, who wouldn’t love a text message that said “Merry Christmas!” with instructions to pick up cash?

One other benefit about using Obopay for gift-giving this season:  it’ll help you avoid lugging too many gifts around if you’re traveling by air.  Some airlines are charging significant fees for even just one piece of luggage.

I plan on using Obopay to say “thank you” to the cleaning lady in my building, who works so hard at keeping our common grounds squeaky clean.  I have no idea what to get her, so Obopay will come in handy.

Do you plan on using Obopay for the holidays?  Please share.

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