Amanda Christensen, AFC Utah Money Moms Editor; Extension Associate Professor Well ladies, married or single, graduated or just starting your education, working your first job or years in to your career, it’s never too early or too late to start budgeting. Even if you’re already a ‘budget queen extraordinaire’, below are three common budget missteps to avoid.
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Jerevie Canlas, Ph.D., CFLE Empowering Financial Wellness Program Coordinator If there’s one thing I learned from the events of 2020, it’s that I need to be on top of my finances just in case something unexpected happens - like a job loss (which happened to me in May), or when we needed a new car (something we had to purchase in November), or somebody needs to be hospitalized (which happened to a lot of people). They say prevention is better than cure, and that’s the principle behind annual physicals. You go see your primary care provider at least once a year so your general health can be evaluated, and you visit your dentist at least twice a year. Based on a number of factors, your doctor might recommend that you do a couple of things such as exercising more, cutting back on certain foods, increasing your fiber intake, or even referring you to a specialist if necessary. Seeing your doctor at least once a year can detect health conditions that can lead to chronic health issues. The biggest benefit of an annual physical is KNOWLEDGE - and this knowledge can potentially save your life. Vincenza Vicari-Bentley, AFC Utah Money Moms Contributor The holidays are time of year when people get together, enjoy some good family time and of course, spend copious amounts of money. Last year, U.S. households spent an average of $1,536 during the season. If you’re feeling the pressure to spend in order to make your family or friends happy, I wanted to share a few ideas that might help take the pressure off. During the last 9 months being pretty much confined at home I’ve learned that happiness and what brings me joy really has nothing to do with money. But that’s not the message that I was being bombarded with especially as a young adult fresh out of college... Guest Contributor: Andrea Schmutz USU Extension Assistant Professor “It’s the most wonderful time of the year” croons Andy Williams on the radio. When Christmas decorations started appearing while I was still debating on which Halloween candy to buy, instead of feeling frustrated that people were leapfrogging Halloween and Thanksgiving to get to Christmas, I felt my spirits lift. COVID could alter life in many ways, but it could not take away the positivity and joy that I feel during the Christmas season. However, one thing started to tug at my thoughts, threatening to dampen my spirits. With so much time to think about Christmas, would it be harder to stick to my holiday shopping budget? As I pondered my dilemma, I had a most bizarre thought: the words to a Christmas song started dancing in my head and I realized they had some great advice that would help me in my efforts to not overspend this season. I started looking at other Christmas songs and found that there were hidden budgeting messages in many of them. Guest Contributor: Emma Parkhurst USU Extension Assistant Professor Have you ever felt overwhelmed when the holidays roll around and it’s time to purchase gifts for loved ones? Whether you’re single, newly married, or it’s just you and your partner, gift giving can get out of hand if you don’t set a precedent for future years. Setting spending expectations for gifts can not only protect your monthly budget, but also prevent a major headache! Wondering where to start? Consider what you spent last year and if that works for your budget this year. Here are some ideas to put in place some gift giving guidelines: |
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