Search Results for: blog financial pitfalls holiday spending

Financial Pitfalls: Discretionary Spending

The biggest financial pitfalls for most people happen in the areas of discretionary spending. Groceries, eating out, fun money and miscellaneous categories all fit into the discretionary spending category. It is important to control the amount you spend on these categories, because it can affect your budget and the money that you have. Here are five tips on controlling discretionary spending. 1) Switch to cash for these purchases. Once you have run out of money for the month, you quit spending. It will take discipline, but it will be worth it. You can end up saving a lot of money … Continue reading →

Frugal Gifts for Hard Times

Practically everyone I know seems to be struggling one way or another in these economic times. With the holiday season approaching, it is more important than ever to practice responsible gift giving. This not only means reigning in the spending for yourself, but also giving gifts that are especially thoughtful during this time. Your gift can not only be a delight but also make a positive impact financially. Really think about what your friends, family and associates need. Is it another coffee mug, or would a basil plant in that mug save them money on cooking? Does your nephew need … Continue reading →

Budget Categories

What categories are in your budget? One problem that many people have with budgeting is that they tend to leave something out. It can be any number of things often they are little. The little things can quickly add up and you may not realize where your money is going. For example my husband loves to stop for a soda and a candy bar on the way home from work. He does this at least three out of the five days a week. Since he is stopping at a convenience store, it is usually about three dollars each day. That … Continue reading →

Be Prepared with an Extra Gift

It is Christmas Eve and if you are reading this in real time, you probably aren’t out spending at the last minute for the one person you forgot to shop for. Isn’t that the most maddening thing? You’ve got everything wrapped and you feel really good about all the holiday preparations. You’ve decorated, budgeted, shopped and finally sat back to enjoy some eggnog when the neighbor stops by to wish you a Merry Merry and they’ve brought – ACK – an unexpected present. I’ve learned to always have a few things wrapped in pretty all occasion paper or a gift … Continue reading →

How Will You Use Your Christmas Bonus?

It is the time of year when many people receive a Christmas bonus. This is a great perk that comes with many jobs. Unfortunately fewer and fewer companies are giving a Christmas bonus, and you may end up with a ham or a card. If you are one of the fortunate few, how are you going to use that bonus? You may be tempted to go and spend the entire amount on Christmas presents. In fact for many, this is the only way that they can afford to have a Christmas. It is important to not become reliant on a … Continue reading →

New Study Shows That Kids Want Savings Instead Of Presents

According to a recent survey parents should be spending less money on Christmas presents and saving instead. In Great Britain, a survey asked children 8 to 15 years old questions about Christmas presents and how much money their parents spend on them. The results actually surprised me. Of the children surveyed: 48% said their parents spend too much money on presents for them 47% wanted the money to be put into a savings account for college The results for the parents surveyed were similar: 31% felt they spend too much money on their children at Christmas 40% admitted they would … Continue reading →

How Much Do You Spend On Christmas?

Christmas generates about $435 billion worth of economic activity each year in the United States alone. But how much does the average family spend on Christmas? 2005 statistics show that the average New Zealand family spends $900. In England 43% of parents spend between $189 and 378 per child and 24% between $378 and $945. In the United States the average American will spend about $750 dollars on gifts and accessories. So for a family with two adults that is a total of $1500. That is a lot of money. Especially when you consider that for many families the gifts … Continue reading →