Released October 30, 2009
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.
Tips
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.
Go green
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.
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http://www.uaex.edu/news/october2009/1030uapb_tips.htm
Editor: Carol Sanders, (870) 575-7238, sanders_c@uapb.edu
