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ENLARGE
Susan Busler
With the downturn in the economy and folks losing jobs, the last thing you want to think about is how you’re going to afford everything for the holidays this year. But it’s not too late to start planning and saving now.
The holidays are typically a time when friends and families gather together for traditional family activities, giving and receiving presents and usually eating way too much food. But the holidays don’t have to be a time of excess.
Many times when we think of budgeting for the holidays, we only think about the financial connection. Better yet, consider budgeting your time and energy as well as holiday finances. Spending a little time now getting organized, setting your spending limits, making out your gift lists and determining holiday menus can help you save energy, avoid lots of stress and certainly help you to control your debt.
First, set a budget and stick with it. Determine the amount of money you have to spend on the holidays. Don’t forget to include not only your gift budget, but also additional expenses related to entertaining, travel and holiday greeting cards — and don’t forget the cost of stamps. When you know what your anticipated expenses will be, then you can start saving to reach that goal.
Second, set aside some money to help with the additional costs of the holidays. If you find the total of the budget you set is unreasonable and puts you into debt for months to come, you will need to prioritize your spending, pare down your expenses or look at ways you can increase income. You may decide to take on a holiday job or hold a garage sale to come up with additional money. Look at your skills — could you baby-sit, clean house or do custom gift wrap? What kind of products might you be able to sell? Holiday centerpieces, wreaths or painting holiday scenes on store windows are all potential ways to bring in more income.
Next, determine your gift lists. To help budget for gifts, make a list of everyone to whom you plan to give a present, what you want to give each and the anticipated cost. Many people go over budget on gift spending during the holidays. Think about some alternatives you might give such as food, handicrafts or a coupon book of services such as yard work or baby-sitting.
Make sure to involve your family in the planning. Yes, this may take some persuasion, but it will be worth it in the end. Everyone needs the opportunity to participate in the decision making and in prioritizing holiday plans so that they are aware of constraints with which you may be faced. Don’t forget others who may not be as well off. Get involved in your community and learn new ways to give back to others.
Shop early, shop the sales and stock up on items when they’re at the best price. The OSU Douglas County Extension Service has a number of publications to help you set spending limits and learn how to reduce food costs for your family.
The holidays are typically a time when friends and families gather together for traditional family activities, giving and receiving presents and usually eating way too much food. But the holidays don’t have to be a time of excess.
Many times when we think of budgeting for the holidays, we only think about the financial connection. Better yet, consider budgeting your time and energy as well as holiday finances. Spending a little time now getting organized, setting your spending limits, making out your gift lists and determining holiday menus can help you save energy, avoid lots of stress and certainly help you to control your debt.
First, set a budget and stick with it. Determine the amount of money you have to spend on the holidays. Don’t forget to include not only your gift budget, but also additional expenses related to entertaining, travel and holiday greeting cards — and don’t forget the cost of stamps. When you know what your anticipated expenses will be, then you can start saving to reach that goal.
Second, set aside some money to help with the additional costs of the holidays. If you find the total of the budget you set is unreasonable and puts you into debt for months to come, you will need to prioritize your spending, pare down your expenses or look at ways you can increase income. You may decide to take on a holiday job or hold a garage sale to come up with additional money. Look at your skills — could you baby-sit, clean house or do custom gift wrap? What kind of products might you be able to sell? Holiday centerpieces, wreaths or painting holiday scenes on store windows are all potential ways to bring in more income.
Next, determine your gift lists. To help budget for gifts, make a list of everyone to whom you plan to give a present, what you want to give each and the anticipated cost. Many people go over budget on gift spending during the holidays. Think about some alternatives you might give such as food, handicrafts or a coupon book of services such as yard work or baby-sitting.
Make sure to involve your family in the planning. Yes, this may take some persuasion, but it will be worth it in the end. Everyone needs the opportunity to participate in the decision making and in prioritizing holiday plans so that they are aware of constraints with which you may be faced. Don’t forget others who may not be as well off. Get involved in your community and learn new ways to give back to others.
Shop early, shop the sales and stock up on items when they’re at the best price. The OSU Douglas County Extension Service has a number of publications to help you set spending limits and learn how to reduce food costs for your family.
Susan Busler is the Family Community Development Extension Agent for OSU Extension Service of Douglas County. She can be reached by e-mail at susan.busler@oregonstate.edu or by phone at 541-672-4461.
