EXTENSION REPORT

Keep Your Holiday Spending in Check

The holiday season is a busy time as people hurry around looking for elegant decorations, new recipes for entertaining, fashionable attire, and the perfect gifts for family and friends.  You make wish lists, menus, shopping lists, and more, but the very first thing that you should do is make a spending plan for the holidays.  Decide how much you have to spend and if you will use credit cards and then stick to your plan.  Most families say that they don’t intend to run up high balances on their credit cards – it just happens!  It is hard to pay off an extra $500 on credit cards after the holidays and that situation can be avoided with good planning. 

You need to decide early how much money you can afford to spend this year.  If you start early before you are under time and energy pressures, and the lights, music and bombardment of slick advertising cloud your thinking, you can consider some creative options that might save you and your family lots of money and make the holidays more enjoyable and less stressful.

Avoid buying gifts on credit unless you plan to pay off the balance in the next billing cycle.  What you are doing is buying a great sale item or gift certificate and then adding 18% in interest (more or less, depending on your rate of interest) until the balance is paid off.  That might take until July or longer.

Examine your intentions  Are you giving a gift to reciprocate the dollar amount of a gift that was given to you earlier, or one that you anticipate will  be given to you this season?  The purpose of a gift should be to show how much another person has had a positive effect on your life.  “Thank you” and “I love you” are expressions that don’t come with a price tag, so don’t get caught up in spending more than you can afford.

Consider your options.  If you are on a limited budget, consider making gifts for everyone on your list.  This might be something from your kitchen like bread, cookies, candies, or some other special dish.  A crafty item that you fashion in your workshop might be much more appreciated than an expensive gift that is going to catch dust.  Your gift could be an IOU for a service you will provide.  It is possible to save on a gift by purchasing a nearly-new item online.

Keep track of your spending.  Use a worksheet to write down all of your plans.  List the people and charities that you have decided to give a gift. Record the amount of money you’ll spend on each.  This simple tool can help you stay within your spending plan and actually enjoy the days and months following the holidays.

By starting early, being creative, and keeping your mind focused with written plans, you can have a joyous and meaningful holiday without the burden of debt to follow you into next year.

If you wish to contact me please call 251-937-7176 or my cell phone, 251-654-4490 or mussogr@auburn.edu.  

Deep South Fruit and Vegetable Growers Conference

Pre-registration and hotel reservation deadlines are fast approaching for the Deep South Fruit and Vegetable Growers Conference and Trade Show. The conference will be Dec. 6-7 at the Riverview Plaza in Mobile.

Pre-registration forms are due by November 22, and the cost is $80. Registration after November 22 will be $95. Forms can be found online at the conference Web site, http://www.deepsouthfruitveg.com/.

The 2007 Money Management Calendars have arrived.  Please stop by the Extension Office at 302-A Byrne Street, Bay Minette, for your copy or copies will be available at area libraries by November 15.  The purpose of the calendar is to assist you in planning and controlling your expenses for the year.  It can be used as an overall guide for the entire year or for short-term planning.

Email address: gmusson@aces.edu
Phone: (251) 937-7176

Issued in furtherance of Cooperative Extension work in agriculture and home economics, Acts of May 8 and June 30, 1914, and other related acts, in cooperation with the U.S. Department of Agriculture. The Alabama Cooperative Extension System (Alabama A&M University and Auburn University) offers educational programs, materials, and equal opportunity employment to all people without regard to race, color, national origin, religion, sex, age, veteran status, or disability.