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Holiday Finances

Holiday Finances

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Page 1: Holiday Finances

Holiday Finances

Page 2: Holiday Finances

 “According to a survey by Consumer Reports, shoppers planned on spending about $699 over the holidays last year, but in a follow-up survey, admitted to actually spending closer to an average of $811, 16% more than planned” 11/2/10

Page 3: Holiday Finances

Creating a budget, and being disciplined enough to follow it, is one of the best ways to avoid overspending during the holidays

Page 4: Holiday Finances

Small purchases start to add up, especially over the holidays.

Gifts

Decorations

Travel

Charitable Donations

Page 5: Holiday Finances

Tips For Smart Shopping

Shop around

Look for price matching policies

Go online

Carefully consider bargain offers that are based on purchases of additional merchandise

Page 6: Holiday Finances

Tips for Smart Shopping

Clip coupons

Ask about sales adjustments

Consider layaway

Keep an eye on your wallet

Page 7: Holiday Finances

Tips for Smart Shopping

Use credit and debit cards with care

Ask about refund and return policies

Keep good records

Ship early

Page 8: Holiday Finances

Online Shopping Safety Tips

Protect your computer

Shop on trustworthy websites

Protect your personal information

Beware of deals that sound to good to be true

Page 9: Holiday Finances

Online Shopping Safety Tips

Beware of phishing

Confirm your online purchase is secure

https:// and “lock” symbol

Pay with a credit card

Keep documentation of your order

Know your rights

Page 10: Holiday Finances

Online Holiday Scams

Quizzes, polls and contests

Auctions and deals to good to be true

Phony charities

Malware-ridden holiday cards and programs

Vacation homes not really for rent

Page 11: Holiday Finances

Mistakes to Avoid

Don’t underestimate what you spend

A holiday budget helps give perspective on what you think you spend versus what you actually do spend

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Guilt

Guilt seems to be the biggest source of overspending

Homemade gift guilt

Equalizing to excess

Surprise gift guilt

Page 13: Holiday Finances

Procrastination

Putting off holiday shopping may cost you

Last minute shopping frenzy

FedEx folly

Page 14: Holiday Finances

Holiday Spirit Overdrive

A financial crime of passion. An insane impulse overcomes you….holiday joy?...the spirit of Santa?...

Debt of 1000 gifts

Parental panic

Manic Perfectionism

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Miscalculations

Miscalculations of volume, time, or value

Shopping by the truckload

The 12 days of shopping

Art-Fair amnesia

Page 16: Holiday Finances

Personal Safety

Avoid carrying large amounts of cash. Limit the number of credit cards that you carry.

Be aware of strangers “accidentally” bumping into you. Pick-pockets use this as a diversion.

Avoid carrying large packages that block your vision and make you a target for thieves.

Page 17: Holiday Finances

Personal Safety

Avoid shopping until you are exhausted. You are more alert when you are less tired.

When hurried or in a crowded shop, make sure you get all forms of identification and credit cards returned to you before you leave.

If you see a van parked next to your car, you can choose to enter your car through the passenger side.

Page 18: Holiday Finances

Holiday Spending Tool

AFSAEF (American Financial Services Association Education Foundation) has an interactive online calculator

www.afsaef.org/HolidaySpending.cfm

Page 19: Holiday Finances

Sample Spending Plan