Amanda H. Christensen, AFC USU Extension Associate Professor; Utah Money Moms Editor I know you've seen it...many retailers are already promoting Black Friday deals and will continue to bombard us with a barrage of ads all month long. I've already started to feel a little FOMO. But before we jump the gun and dive in to holiday spending in 2020, I'd recommend a few things to help us stay savvy shoppers this season. Tip 1: Starting early can help you spread holiday costs out over a few months rather than everything hitting your bank account in December or January. This also helps with our efforts to give thoughtful gifts-which is always our intention-but sometimes we run out of time and simply pull the trigger on something less meaningful or more expensive than we'd have hoped. Start early, check things off your list and unplug from the holiday hub-ub to enjoy the reason for the season. Tip 2: Create a holiday spending plan. Don't forget to include the gift exchange at work or any neighbor gifts you'd like to give out. Traditional activity's may have costs associated with them so don't forget that either. Once you've listed everything, set a per-person (or per activity, etc.) spending limit. I like to use a free app like Santa's Bag (or something similar) because it helps me easily track my per-person spending and visually shows me my progress. What a per-person spending limit does is helps me focus on getting the best bang for my buck within that spending limit. Tip 3: Keep good records such that if an item you’ve purchased goes on sale at a better price later in the season, you can be a savvy consumer and return the item or ask for the difference in store credit. As for physical receipts, during the holiday season I make space for them in my coupon/gift card organizer that’s in my purse and always with me. Digital receipts can be difficult to track as they can get buried in your email. It’s as simple as creating a “Christmas 2020” email folder and dragging all online order confirmations into that folder. Tip 4: A savvy consumer takes advantage of the sales and knows when to stop spending. The "good deals" will keep coming. We'll be bombarded all through December as well so once you've reached that per-person spending limit and checked everything off your list, be done. Unplug. Last-minute impulse buys can be budget busters! The sale season is only working for you if you don’t continue to buy, buy, buy.
0 Comments
GUEST CONTRIBUTOR: ANDREA SCHMUTZ, USU EXTENSION ASSISTANT PROFESSOR I love the fact that Pioneer Day (a state holiday in Utah) falls in the same month as the 4th of July. The two holidays encourage us to celebrate heritage - of our country and of our state. They remind us of sacrifices made by courageous people who lived difficult lives. Traditionally, Pioneer Day commemorates the arrival of the first group of Mormon pioneers to the Salt Lake Valley in 1847. However, the holiday is an opportunity to honor the many different pioneers who contributed to the wonderful state and country in which we live. Regardless of your faith, this July 24 take a moment to enjoy some family time with these budget friendly activities inspired by the pioneers. GUEST CONTRIBUTOR: KATHY RIGGS, USU EXTENSION PROFESSOR If your family has the tradition of taking a summer vacation every year, you are not alone! It’s a great time to bond as a family and for parents to get away from work and other responsibilities. However, this year it may make less sense to spend a considerable amount of income on an expensive family trip. It may be wiser to use vacation funds to pay off debt or add to that “rainy day” fund (which may have come in handy to some families in 2020). Besides, there are still some travel restrictions in place and some of the more popular parks and recreation areas may not be fully open until late summer. GUEST CONTRIBUTOR: CHRISTINA PAY, USU EXTENSION ASSISTANT PROFESSOR “Summertime and the livin is easy” or so say the words of an old song. The living might be easy but not necessarily cheap. That said, summertime is full of long sunny days filled with plenty of opportunities for getting outside to make memories with our loved ones. Looking back on the years I spent raising my children, it went incredibly fast. However, I’m grateful for the memory making moments we spent together, especially during the summer months. Summertime can certainly be stressful for families. Day trips and adventures can be expensive. However, there are ways to keep the kids busy and have fun, too, without it costing too much. GUEST CONTRIBUTOR: MAREN WRIGHT VOSS, USU EXTENSION ASSISTANT PROFESSOR As much as we love family, being cooped up at home and nowhere to go for the past two and a half months can make anyone a little stir crazy! Fortunately, even with some travel plans cancelled because of safety concerns, you can still get away and have an incredible adventure. This is an opportunity to save money and build family memories. You can do a road trip with your family for almost nothing—and you can do it right here in Utah. |
TAKE A FREE CLASS!Host a ClassamandaSharing real-life money smarts to help you stay on track with financial goals while still enjoying life! Follow the fun on InstagramAS SEEN ONawardsBest of State 2022 & 2023: Personal Finance Education
1st Place National Award in Social Media Education from the National Extension Association of Family and Consumer Sciences
Gold Award in Blog Site category at the 7th annual Education Digital Marketing Awards.
Platinum Award in Digital Media, Web Design category at the International Marketing and Communication Awards.
Categories
All
|