In the News - October 2009
Spending Tips for the Holiday Season
PINE BLUFF, Ark. - With signs of the approaching holiday season already in
many stores, this could be one of the longest and most dreaded holiday seasons
ever, says Rita Conley, Cooperative Extension Program family resource management
specialist at the University of Arkansas at Pine Bluff.
Tight budgets will be more common this holiday season than in years past
because of unemployment and the cautiousness of those employed which has
resulted in a reduction in spending, says Conley. But, she has tips to help
customers avoid the anxiety of spending and planning this season. Her tips also
encourage consumers to take part in a variety of activities that do not break
the bank.
Set a spending limit - Determine the amount you can afford to spend during
the holidays and stick to it. Include not only gift purchases but also holiday
parties, food at home and away from home, movies, other recreational activities
and travel. Set a limit on the number of gifts for each child or set a dollar
amount to spend on each child.
Make a gift list - Consider purging your gift list. Homemade gifts such as
baked goods or special cards may be more appropriate for neighbors, teachers and
service providers. Drawing names and group gifts for special family members are
usually less costly ways of giving.
Buy with cash or check only - Research shows that consumers spend less when
paying with cash or check rather than credit cards. Charging holiday purchases
on high interest credit cards results in repaying the amount borrowed for
several years.
Start new traditions that are free or inexpensive - Replace the emphasis on
gift giving with other enjoyable activities. Many communities sponsor activities
such as tree lighting ceremonies, parades and holiday lighting tours. If you
prefer religious celebrations, churches have programs and activities open to the
public.
Be thoughtful in your gift giving - Ask yourself why you are purchasing the
gift. Some reasons may be to convey that this person is important to you or that
this person has had a positive influence on your life, or you may want to give
to someone who is truly in need. Do not get caught up in the "culture of
spending" without regard to your family's needs after December. Gifts include
giving of your time and talents.
Add items needed for home-cooked dishes to your weekly grocery list now
-
Plan for holiday meals now. Select items that may not be drastically reduced in
price during the holiday season.
Avoid impulse buying - Shop early to allow time to comparison shop. Many
consumers rush to the stores the day after Thanksgiving to take advantage of
time-limited sales. These sales encourage consumers to make impulse buys because
of the limited time to make a decision. Plan ahead and decide on the items you
can afford to buy before the sales begin. Do not spend money you need for
necessities on items just because they are on sale. If you lack control, stay
home.
Conley also suggests "going green." Regifting unused gifts, giving gently
used items and reusing wrapping paper, gift bags and bows is the new chic.
Decorating packages with pine cones, old ornaments and decorations you have on
hand updates the gift wrap and adds a personal touch. And, when the season is
over, consider a special account to save for the next holiday season.
A positive attitude is essential, advises Conley. Do not allow a tight budget
or the lack of material gifts sabotage your enjoyment of the holiday season.
October 30, 2009
By Carol Sanders
Writer/editor
UAPB School of Agriculture
Fisheries and Human Sciences
(870) 575-7238
sanders_c@uapb.edu
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