Now that it’s October, the holiday season is coming up faster than ever. It means time spent with family and friends, whether in person or virtually. It means sharing meals and making memories. And it often means holiday shopping.
Holiday shopping isn’t always easy -- even when we can do it from the comfort of our own homes. And holiday shopping in 2021 is providing some new challenges that many of us may not have faced before.
Learn more about 2021 holiday shopping, financial stress, and how Armed Forces Bank can help you get the cash you need for your holiday shopping needs -- and more.
Holiday Shopping in 2021
This year, holiday shopping may look unique compared to past years. That’s because supply chain issues are impacting retailers around the world. Normally, October is when retailers are gearing up for the holiday rush, placing orders for stock shipments to their warehouses in anticipation for customer orders.
But this year, shipping and supply bottlenecks are causing some retailers to panic. In fact, many consumers in the U.S. have already noticed longer-than-usual wait times and other issues with their orders.
According to a Gallup poll in August, 60% of Americans said they were unable to get a product they wanted in the previous two months due to product shortages. And 57% said they experienced significant delays in receiving their orders. About 70% said they had experienced at least one of these issues, and 46% had experienced both.
So, what can you do to combat these issues? One of the best ways is to be proactive and start your shopping early. Whether you experience significant shipping delays, or an item you want is simply out of stock, having more time to prepare for these unexpected circumstances can lead to a more seamless shopping experience.
Financial Stress and the Holidays
The holiday season is marketed as the “most wonderful time of the year.” Visits with family and friends, holiday travel, sharing meals, and the promise of a new year can be exciting and give us something to look forward to.
But it’s also a time of stress for many people. Not only are there seemingly endless shopping lists and holiday events to attend, but there’s also the financial aspect as well. And that may be even more true if you’re a service member or military family considering traveling from your base to visit family -- especially if you’re coming from overseas.
In fact, a Marcus by Goldman Sachs study showed that 50% of Americans find the holidays the most financially stressful time of the year. Gift-giving, travel, holiday meals and more can all add up -- and if you haven’t worked these holiday expenses into your budget, you might feel like your wallet is really taking a hit. Of course, being prepared, shopping early, and looking for deals can help. But these may not solve all your problems.
For military families, there’s an additional way you can decrease stress this holiday season: with a Military Access Loan.
How a Military Access Loan Can Help
An Access Loan from Armed Forces Bank* can help with your holiday shopping this season. It’s just one of the ways we serve those who serve.
Our Access Loan gives our military community access to the money you need. It can help take the stress off of the holiday shopping experience.
And it comes with a fast and easy approval process as an added bonus. This personal military loan has flexible credit options for Armed Forces Bank clients as well as active duty or retired military borrowers -- even if your credit isn’t perfect. We currently offer Access Loans ranging from $750 to $15,000
How Does the Access Loan Work?
1. Apply online in just minutes
2. See instant-approval status
3. Receive and accept the loan offer
4. Get quick access to the money in an Armed Forces Bank account
If you are already an Armed Forces Bank client, your loan will be deposited directly to your account. If you are new to Armed Forces Bank, a new Access checking account will be set up first. Your loan proceeds will be deposited there within minutes.
Armed Forces Bank Access Loans offer expanded credit options for existing Armed Forces Bank clients; credit options for borrowers with little or no credit history; fixed terms and monthly payments to simplify your budget; and automated payments so you'll never miss one.
Why Borrow From Armed Forces Bank?
At Armed Forces Bank, serving those who serve is personal. We’re a family-owned military bank that has been serving military families for more than 100 years.
Our mission is to provide a superior banking experience with fast, easy and personal service. Our unsecured military loans offer flexible terms and no early repayment fees.
An Armed Forces Bank military loan gives you access to the cash you need without breaking your budget. In addition to helping with your holiday shopping, Access Loan proceeds can be used to help with household expenses, cover education costs, fund travel, or vacations, and more.
Your Financial Partner Year-Round
No matter what time of year it is -- and no matter where you are in the world -- Armed Forces Bank is committed to serving you and your family. We’re proud to be your financial partner year-round.
*Subject to credit approval.