How to Survive the Holidays Financially

How to Survive the Holidays Financially

Topics

Financial Management for Every Season

Financial Management for the Holiday Season

Tips and Techniques

Have you ever …

Spent more for the holiday season than you wished to, or could afford?

Still been paying the bills from one holiday season when another arrives?

Done all of your holiday shopping in one last minute dash to the mall?

What does it cost?

On the green slip …Write your nameGuess how much the gift costPass the card to your neighborHold on to this for later in the program

Holiday Sing Along

“Uh-oh,

We’re in the Red, Dear”

Holiday Sing Along

Uh-oh, we’re in the red dear.On our credit bill it showsThe season’s nearly over,But the debit line still grows.

Holiday Sing-Along

Shopping like Santa’s zombiesSent our budget down the drain,But all our season’s

greetingsHelped the giant

retail chains.

Holiday Sing Along

We’re so foggy with no plan,Wond’ring how we’ll pay.Holidays don’t seem so brightWhen our finances are

tight.

Holiday Sing Along

So here’s a plan for next year -Let’s forget the shopping spree.Let’s give a gift of love, soWe will always be debt free!

‘Twas the Day After Christmas

Twas the day after Christmas, and all through the house,

Every creature was hurtin’, including the mouse.

The toys were all broken, their batteries dead;

Santa passed out, with some ice on his head.

Wrapping and ribbons just covered the floor,

While upstairs the family continued to snore.

And I in my T-shirt, new Reeboks and jeans,

I went into the kitchen and started to clean.

… Twas the Day After Christmas

When out on the lawn there arose such a clatter,

I sprang from the sink to see what was the matter.

Away to the window I flew like a flash,

Tore open the curtains, and threw up the sash.

… Twas the Day After Christmas

When what to my wondering eyes should appear,

But a little white truck, with an oversized mirror.

The driver was smiling, so lively and grand;

The patch on his jacket said “US Postman”.

… Twas the Day After Christmas

With a handful of bills, he grinned like a fox,

Then quickly he stuffed them into our mailbox.

Bill after bill, after bill, still they came,

Whistling and shouting he called them by name.

… Twas the Day After Christmas

“Now Dillard’s, now Penney’s, now Sears and Broadway,

Here’s Hecht’s and Home Depot, and Kohl’s and Target.

To the top of your limit, every store, every mall,

Now charge away, charge away, charge away all!”

… Twas the Day After Christmas

He whooped and he whistled as he finished his work.

He filled up the box, and then turned with a jerk.

He sprang to his truck and he drove down the road,

Driving much faster with just half a load.

… Twas the Day After Christmas

… Twas the Day After Christmas

Then I heard him exclaim with great holiday cheer,

“Enjoy what you bought…

YOU’LL BE PAYING ALL YEAR!”

Holiday Quiz

1. What is the busiest shopping day of the year?

a. The day after Thanksgiving

b. The day after Christmas

c. The Saturday before Christmas

Holiday Quiz

2. What is the holiday song most played at malls during the winter holidays?

a. I’m Dreaming of a White Christmas

b. I Saw Mommy Kissing Santa Clause

c. Jingle Bells

Holiday Quiz

3. The Winter Holidays (Thanksgiving to New Year’s Day) are, by far, the busiest shopping time of the year. What is the 2nd busiest shopping time of the year?

Holiday Quiz

4. Rudolph the Red-Nosed Reindeer…

a. Was a character originally conceived by Ernest Hemmingway for a novel.

b. Started as a sales gimmick for Montgomery Wards in 1939

c. Was shot and killed in a tragic 1963 hunting accident

Financial Planning for Every Season

Creating a planThe gift you give yourself

Creating a Plan for Every Season

Financial Planning WorksheetStep #1: Determine net payStep #2: Save and InvestStep #3: Record expensesStep #4: Manage credit

Your CFS can help!

Benefits of a Good Plan

A good spending plan will help you…Live within your meansRealize goalsMaintain a good credit historyGet more for your moneyAchieve financial freedom

A financial plan is one of the best gifts you can give yourself !!

Financial Planning for the Holiday Season

Shopping habitsPreparing a planSetting limits

This is what merchants have come to expect of us…

The average consumer spent $889 on the winter holidays in 2006$451 Gifts for the family$86 Gifts for friends$67 Gifts for coworkers and others

(babysitter, teachers, etc.)

$99 On themselves$47 Decorations$31 Cards and postage$91 Food$18 Flowers

Source: www.nrf.com

What are we buying?

1. Gift Cards2. Clothing and Accessories3. Books, CDs, DVDs4. Consumer Electronics5. Jewelry6. Home Décor and Furnishings

Most popular items: For girls — Barbie/dolls For boys — TMX Elmo/cars

Source: www.nrf.com

Prepare a Plan

Family Conferenceto do liststop prioritiesdollar amounts per personpersonal experience

Determine the “Cost of Our Happy Holidays”

Set Limits

Examine alternativesBeware of impulse

purchasesMake a list and

stick to it!

Tips and Techniques

Alternatives to expensive gift givingHoliday financial safetyPaying for the holidaysPost-holiday financial planning

Alternatives to Expensive Gift Giving

Write down one or two of your favorite low- or no-cost alternatives to expensive gift-giving. (green card)

Alternatives to Expensive Gift Giving

CookingPersonal couponsHome made craftsYour timeYour talentsMeaningful gifts

Saving Money and Time

Draw namesMail order/catalog shoppingOn-line shoppingLay awayPurchase after the holidaysPlan your trips

What is your favorite low cost idea?

Financial Safety

Maintain control of your cards & information

Know with whom you are doing business

Review statements upon receiptImmediately report any “missing”

cards or unrecognized transactions to minimize damage

How are Shoppers Paying for the Holidays?

39% Check or Debit Cards

30% Credit Cards

24% Cash

6% Personal Checks

(Source: www.nrf.com)

Paying for the Holidays

CashChristmas clubsCredit

Credit cardsLoansIf you must charge purchases, use a low

rate major card rather than a high-rate store card

Paying Off the Cards

Only charge as much as can be paid off within three months

Create a plan to pay off your holiday purchases within those three months by making adjustments to other expenses

Post Holiday Financial Planning

Start planning for next yearTrack this year’s costs

Total amount

spent this

year

Amount to begin saving

monthly to get ready for

next year

Summary

Financial Management for Every Season

Financial Management for the Holiday Season

Tips and Techniques

Questions?

Start with a little planning and Happy Holidayswill be the result!

Print your Certificate

Click on the following link to add your name to the certificate and print it:

How to Survive the Holidays Financially