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Managing the Holiday Budget Crunch with University of Minnesota Experts

Last Updated: December 03, 2008 Related resource areas: Parenting, Personal Finance

Be honest with your children about the adjustments.

Released November 25, 2008

MINNEAPOLIS/ST. PAUL, Minn. —- If your budget is tight this year, it may be time to readjust your holiday spending. A University of Minnesota Extension educator in family resource management, Rosemary Heins, has some tips on how parents can approach this difficult topic with their children.

To watch a video about how to manage expectations, visit: http://www1.umn.edu/urelate/newsservice/Multimedia_Videos/holiday_budget.htm

Transcript, http://www1.umn.edu/urelate/newsservice/Multimedia_Videos/0-Transcripts/holiday_budget.html.

"Maybe it is not going to be as gift-full as it has been in the past," Heins says.

The key is to be honest with your children about the adjustments. Heins says that message will work with children of all ages.

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Elizabeth Giorgi, (612) 624-0214