H OLIDAY S PENDING .O N A M ERRY L ITTLE B UDGET Presented by:
Student Money Management Center & SHSU Staff Council
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Objectives Budgeting/Planning Saving Spending Tips How to Avoid
the Most Common Christmas Shopping Mistakes
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Staying Within Your Means Know your limits. How much can you
afford? It is important to decide a spending limit ahead of time
and not in the middle of a shopping trip. Take a look at last
year's statements to see how much you actually spent.
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Holiday Spending Financial planners suggest that you spend no
more than 1.5% of your annual income on holiday spending. With an
annual income of $50,000, 1.5% equals $750. Source:
http://www.census.gov/http://www.census.gov/
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Write down all the expenses you expect to have, and be as
specific as you can. Most people only plan on what gifts may cost.
What about? Greeting Cards Gifts Meals Shipping Wrapping Batteries
TravelBudgeting/Planning
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Staying Within Your Means Break it down Overall Holiday
Spending Budget Gift Giving Budget Once you have a realistic budget
of what you want to stay under/what you can afford, it's time to
start your list.
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Holiday Worksheet
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Setting Your Gift Budget You have an overall budget, now what
about gifts? List each person you plan to buy a gift for, then
divide your gift budget among the people on your gift list.
Estimate how much to spend for each of them. Do not exceed your
gift budget! Rework figures as necessary.
Shipping/Wrapping/Batteries
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Setting Your Gift Budget Brainstorm Gift Ideas. We will cover
this more a little later. Track Your Spending Throughout the
Season. As you purchase gifts: Note the cost in the Actual Spending
column. Calculate how much over/under budget you are with each
person. Tweak Your Budget to Cover any Instances of Overspending.
Dont panic, but scale back your spending on another gift to make up
the difference.
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Holiday Gift Spending Worksheet
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Holiday Budget Guide Dont be afraid to make changes to your
budget. A good budget frequently changes. Hang on to Your Copy of
the Budget Worksheets. Use it for planning for next year.
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Saving for the Holidays Set aside Money Every Week/Pay Period
Latte Factor $5.00 a day in Starbucks = $80 a month Track Your
Spending for 2 Weeks
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Ways to Track your Spending Write down everything you buy for
one week. (Tip: keep all receipts!) This helps you determine your
spending wants vs. your spending needs.
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Ways to Track your Spending Start Putting Money Away Today
Systematically Save Even if it is $10 a week Place Savings in
Account Christmas Club/OneAccount Envelope System Envelope Johns
Christmas Charlies Golf Club
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What If I Still Dont Have Enough? Cut back: consider wants vs.
needs Consider reducing the gifts you buy, cards for the rest. Earn
more Look into second jobs. Possibly even just seasonal Consider at
home sales jobs. Mary Kay, Scentsy, Advocare, Tupperware Have a
garage sale.
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What If I Still Do Not Have Enough? Avoid Credit Cards..you
will be paying them off until next Christmas. Do NOT take out extra
loans to cover your gifts. Your Loved Ones Would Not Want You To!
Plus you will have to pay it back, with INTEREST!! Be a smart
shopper instead. Use more of your time, instead of more money. Shop
Earlier Be a Smart Consumer
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Spending Tips There's no reason to feel like a Scrooge for
being budget-conscious during the holidays. Chances are, many on
your gift list also feel the pinch. Avoid impulse buyingshop around
Chances are you will find the same product cheaper elsewhere. User
your worksheet as your list. Santa makes a list and checks it
twice, so should you!
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Spending Tips Look for deals online. Never Pay Full Price.
Coupons On-line promotion codes Sales Ads Make gifts at home. Plan
your travel well in advance. Let your budget worksheet be your
guide.
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Spending Tips If you are purchasing something online check the
shipping charges carefully. People appreciate simple and meaningful
over expensive and useless. Most importantly, remember the real
reasons for the events you're celebrating.
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Most Common Christmas Spending Mistakes Equalizing to excess:
You get each child, parent or sibling an equal distribution of
presents. Except... You think maybe you should get Mom a couple of
extra little things because Dad's sweater obviously cost a bundle
But now Mom has three presents and Dad has only one, so the least
you can do is get him a book... repeat until broke!
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Most Common Christmas Spending Mistakes Surprise-gift guilt:
Your boss, friend, co-worker or neighbor gives you an unanticipated
gift. Oh NO! You should have anticipated this. You dash out to the
store and add yet another item to your overwhelmed holiday budget.
Solution: Discuss this with co-workers early o n. Consider a white
elephant or dirty Santa Draw Names
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Most Common Christmas Spending Mistakes Procrastination
Problems: Last-minute shoppers Cruising Wal-Mart at 8pm on
Christmas Eve. One furious frenzied night of shopping blows the
whole thought that counts. Last minute gifts often result in
overspending. FedEx Folly Bought your nephew that great Xbox game
he wanted even found it on sale. Waited until last minute to have
it shipped so shipping ended up costing more than the gift
itself.
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Most Common Christmas Spending Mistakes Holiday Spending
Overdrive: Debt of 1,000 Gifts Getting everyone from the babysitter
to the FedEx man a gift to the tune of $5k. Parental Panic
Christmas Eve you lay out all the gifts, and its just not enough.
You love your kids so much, you cannot deprive themBack to the
MALL!!!! Manic Martha-ism For once you are going to celebrate the
holiday in style. Nutcracker, Ice Capades, Holiday Dinner, Fly the
Folks In
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Most Common Christmas Spending Mistakes Eggnog Wishes &
Caviar Dreams Shopping by the Truckload You go to Sams Club or
CostCo Buy a truckload of candy canes 14 Roles of Wrapping Paper 6
Gallons of Cheese Whiz Need I say more
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Most Common Christmas Spending Mistakes The 12 Days of Shopping
You havent found the perfect gift for someone yet. Meanwhile, youll
just pick up a pair of earrings, a scarf.. By the time you reach
the end of the Quest for Perfection, you have 27 gifts! None of
them quite right, Except maybe the pear tree with the partridge in
it.
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Most Common Christmas Spending Mistakes Shopping Amnesia
December is upon you You Dash Out and Do All Your Shopping Get Home
to Wrap Gifts Look Under the Bed You See All the Presents You
Bought For Everyone at Canton in July These slip ups can & do
happen..how to prevent it is unclear Marking individuals off the
list early might help prevent dual buying!
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Inexpensive Gift Ideas: Men Put together a gift bucket with car
care products. All you need is a bucket, a sponge, car wash soap,
wax Find a humorous book on tape to ease the boredom of a long trip
or daily commute. Consider a Personalized Certificate like Dads Day
to Do Whatever He Wants.
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Inexpensive Gift Ideas: Women Personalized Photo Gifts
Personalized calendar w/ kids photos marking holidays and birthdays
Photo Books of Years Worth of Events/Trips Photo Mugs/Childrens Art
Work Great for grandparents Find out the title of a book she loved
as a child. Purchase a copy new or used online Health Spa Gift
Certificate Its something that most women enjoy and dont get to do
enough.
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Inexpensive Gift Ideas Candy Mug Go to the dollar store and
pick up an inexpensive mug, Christmas candy, tissue paper. Great
gift because when the candy is gone, they can fill up the mug with
their favorite coffee! Sign the bottom & date it and they will
always remember the gift. Customized Christmas Ornaments. Buy
non-painted ornaments or bulbs from your local craft store and pick
up some acrylic paint too. All it takes is some time and youll have
an original, creative present that will last forever! Make sure you
put the date on it somewhere!
