"Ten Holiday Spending Tips"
San Diego, CA.
'Developing a strong resistance to seductive appeals to spend more
money than one has allotted for the holiday gift giving season, just barely
a month away, is a main goal among many John and Sue
Workhards this year. It seems to be especially hard for
some people not to overspend during the holidays because
of an emotional need to express love, appreciation and
friendship," said Paul S. Richard, a Registered
Financial Consultant (RFC) and Executive Director of the
nonprofit Institute of Consumer Financial Education (ICFE),
an award winning group based in San Diego, CA.
Developing better spending techniques is one way people
can help eliminate overspending and keep from getting all
charged-up with plastic again this holiday season. Here
are some useful spending tips and
ideas for holiday shoppers from the ICFE.
1) Create a written plan for holiday spending and gift
giving a month or two in advance. Include your gift list,
possible gifts, dollar amounts, and alternative choices.
2) Establish spending limits for gifts for each person on
your list and start looking for bargains early.
3) If it has been a challenging year financially, you need
to shrink your holiday gift list. Begin by talking with
those you exchange gifts with, perhaps suggesting not
exchanging gifts or mutually observing much lower
dollar-limits on gifts.
4) Separate shopping trips (when comparing prices,
quality, value, etc.) from spending trips (when making a
purchase), and resist taking cash, credit cards, or a
checkbook on the shopping trips.
5) Wait for those sales! Look over the advertising and
sale flyers for items you intend to purchase.
6) Ask retailers when the items you are interested in
buying are coming on sale. Most retailers will reveal sale
dates because they don't want you to shop their
7) Spend cash and avoid using credit cards. Charge cards
tend to promote indiscriminate spending. Credit card users
often say they had no idea how much they spent on the
holidays until the credit card bills arrive in January or
February of the next year.
8) Liquidators, buying clubs, and factory outlet stores
usually offer lower prices. Bulk buying with other family
members or friends can also yield savings.
9) Giving gifts to adults on New Year's Day is also very
special. You can really take advantage of all those after
Christmas sales which begin the day after.
10) Make more of your gifts at home. A freshly baked loaf
of bread, cookies, and desserts are always appreciated.
Also arts, crafts, needle-work, or a collage of
photographs of you and or your family make
wonderful gifts too.
This holiday season manage your money so expenses don't
exceed income. Its important because everyday
spending decisions, especially the credit based ones, will
have a far greater negative effect on one's financial
future than any investment decision one is likely to ever
make. The ICFE's Web site at
http://www.financial-education-icfe.org has many
helpful spending tips and worksheets for setting up a
one-page spending plan and more. To receive the same
information by mail, please send $1 and a self-addressed,
60 cent stamped envelope to: ICFE Spending-Plans, PO Box
34070, San Diego, CA 92163.
About the ICFE:
The Institute of Consumer Financial Education (ICFE),
founded in 1982 by the late Loren Dunton - creator of the "certified
financial planner” (CFP) designation - is dedicated to helping consumers
of all ages to improve their spending, increase savings and use credit
more wisely. The years between 1984 and 2000, the ICFE was also known as
the National Center for Financial Education (NCFE).
The ICFE is a nonprofit consumer education organization that has helped millions of people through its education programs and Resources. Over
one million "Credit
/ Debit Card Warning
Labels” and "Credit
/ Debit Card Sleeves” are in circulation world wide.
The ICFE's on-line help for consumers who spend too much
was featured in PARADE Magazine (June 9th, 2002) in the Intelligence
Report section. The money helps and tips are from the "Money
Instruction Book," a course in personal finance, which was completely
revised and updated in 2002 and is positioned to become among the premier
programs in the new bankruptcy and debtor education initiatives.
The ICFE's "Do-It-Yourself Credit File Correction
Guide," now in its Twelfth Printing, is in use by thousands of consumer credit and debt
counselors in addition to tens of thousands of consumers. It received a
"buy” rating in July, August and November from nationally syndicated
financial columnist, Humberto Cruz in his column, "The Savings Game".
BottomLine Personal newsletter gave the Guide a "Send For” rating in
September 2001. The ICFE and our do-it-yourself approach to credit file
correction was featured on NBC Nightly News on 04-30-02. The Spanish
edition of the Guide premiered in January 2002. Syndicated columnist,
Robert Heady also gave the ICFE Guide a "buy” rating.
The ICFE Web site at: www.financial-education-icfe.org helps consumers with
mending spending, learn about the
proper use of credit, budget and expense guidelines, how to set up and implement a
spending-plan and also access financial education courses and videos and how to
teach children about money. Other ICFE services include a
free eNews, and an
on-line resource center of financial education
learning tools, including videos, books and personal finance courses.
Consumers may learn more on the Internet about the "Do-It-Yourself
Credit File Correction Guide" here, or fill out our request
form, indicating your areas of interest.
For more information contact Paul S. Richard ICFE Executive Director at 619-239-1401.