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 name Guess how much the gift cost Pass the card to your neighbor Hold on to this for later in the program

Holiday Sing Along

Uh-oh, Were in the Red, Dear

Holiday Sing Along

Uh-oh, were in the red dear. On our credit bill it shows The seasons nearly over, But the debit line still grows.

Holiday Sing-Along
Shopping like Santas zombies Sent our budget down the drain, But all our seasons greetings Helped the giant retail chains.

Holiday Sing Along

Were so foggy with no plan, Wondring how well pay. Holidays dont seem so bright When our finances are tight.

Holiday Sing Along

So heres a plan for next year Lets forget the shopping spree. Lets give a gift of love, so We 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.

 Twas the Day After Christmas

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 Dillards, now Penneys, now Sears and Broadway, Heres Hechts and Home Depot, and Kohls 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

Then I heard him exclaim with great holiday cheer, Enjoy what you bought YOULL 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. Im Dreaming of a White Christmas b. I Saw Mommy Kissing Santa Clause c. Jingle Bells

Holiday Quiz
3. The Winter Holidays (Thanksgiving to New Years 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 plan The gift you give yourself

Creating a Plan for Every Season

Financial Planning Worksheet
Step #1: Step #2: Step #3: Step #4: Determine net pay Save and Invest Record expenses Manage credit

Your CFS can help!

Benefits of a Good Plan

A good spending plan will help you Live within your means Realize goals Maintain a good credit history Get more for your money Achieve financial freedom A financial plan is one of the best gifts you can give yourself !!

Financial Planning for the Holiday Season

Shopping habits Preparing a plan Setting limits

This is what merchants have come to expect of us

The average consumer spent $889 on the winter holidays in 2006
$451 $86 $67 $99 $47 $31 $91 $18 Gifts for the family Gifts for friends Gifts for coworkers and others (babysitter, teachers, etc.) On themselves Decorations Cards and postage Food Flowers

Source: www.nrf.com

What are we buying?

1. 2. 3. 4. 5. 6. Gift Cards Clothing and Accessories Books, CDs, DVDs Consumer Electronics Jewelry Home Dcor and Furnishings
For girls Barbie/dolls For boys TMX Elmo/cars
Source: www.nrf.com

Most popular items:

Prepare a Plan
Family Conference
to do lists top priorities dollar amounts per person personal experience

Determine the Cost of Our Happy Holidays

Set Limits
Examine alternatives Beware of impulse purchases Make a list and stick to it!

Tips and Techniques

Alternatives to expensive gift giving Holiday financial safety Paying for the holidays Post-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

Cooking Personal coupons Home made crafts Your time Your talents Meaningful gifts

Saving Money and Time

Draw names Mail order/catalog shopping On-line shopping Lay away Purchase after the holidays Plan 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 receipt Immediately 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

Cash Christmas clubs Credit
Credit cards Loans If 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 year
Track this years 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 Holidays will 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