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Celebrate Cinco de Mayo without Sinking Your Budget

by on May 4, 2012

By Samantha Savory

Spanish for the “5th of May,” Cinco de Mayo has become a celebratory tradition in the United States that not only Mexicans celebrate. On May 5, Americans of all nationalities and ethnicities celebrate the traditional Mexican heritage and pride and commemorate the rise of democracy in Mexico during the first years of the American Civil War.  Although the origination of the holiday observes Mexico’s army victory over the French during the Battle of Puebla, Americans are savvy at finding a excuse to party, celebrate and have a good time which they have done so for the Cinco de Mayo holiday!

For those of you Power Savers who plan on partaking in Cinco de Mayo celebrations  tomorrow, we have some money tips to help you prevent your budget from sinking.

1. Use cash – Before you go out partying for Cinco de Mayo, set a budget and take that cash out of the ATM.  Of course, there are both pros and cons to using credit/debit cards versus cash, but if you only bring cash, once it is gone, you won’t be tempted to overspend.  You also won’t have to worry about someone ripping you off at a bar.

2. Drink responsibly – If you want to enjoy yourself and drink all day with your friends, remember to designate a responsible friend that will not drink so someone in the group can be aware of what is going on at all times.  If everyone in your social circle is partying hard and not fully aware of your surroundings, you may become vulnerable to identity thieves.  Holidays are thieves’ best opportunities and when you are not completely conscious of your surroundings, you could find your personal financial information compromised.

3. Research deals – If you are looking to enjoy some great Mexican food, drinks or festivities, first look on the Internet for drink and food specials taking place at local restaurants. You don’t want to show up somewhere and find out they have hiked up the entry fee or drink prices because it’s a holiday.  By always planning ahead, you will have a greater chance of not facing any financial problems in the future.

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