EXTENSION CORNER: Take charge of holiday budgeting
The holiday season can make you feel the financial squeeze. From gift buying, holiday meals and travels, there can be a variety of expenses that make budgeting a priority. By planning and looking for savings, you can ease the financial stress of the holiday season so that you can make the most and spend quality time with friends and family.
Setting a budget is an important tool year-round, but it can be a great tool during the holidays. Budgeting is simply making a specific plan about how you want to spend your money. It’s easy to get to the store and spend more than you intend, but if you can list out how much you can afford to spend before you leave your home, you can stick to a budget. So, think about making a list of all the expenses you think you’ll have, and balance that against how much money you are willing to spend from your bank account.
Next, make sure you shop smart. When you are shopping, look carefully at products and prices. Sometimes retailers might artificially increase a price so that they can lower it with a “sale.” Other times, a product might be a slightly different model at different stores makes it hard to comparison shop. Be careful and know the consequences of getting a store card from a retailer. Sometimes applying for store credit cards can hit your credit and cause an unexpected impact on your credit score.
Last, holiday meals can hit your wallet hard, so look for ways to stretch your holiday food dollars. Make sure you shop sales and keep track of which stores are offering what deals. Keep in mind that if you clip coupons, some stores can stack or double certain coupons. Also, as you plan your meals, ensure that you don’t have so much food you end up wasting it. A lot of us love leftovers, but we all have a limit.
If you have additional questions about financial resource management or any other Extension programs, reach out or stop by our office at 3200-A W. Meighan Blvd. in Gadsden, call us at 256-547-7936 or visit us on Facebook at https://bit.ly/3otwUdl or online at https://bit.ly/3yniPCx.
The Alabama Cooperative Extension System is an equal opportunity educator and employer. Everyone is welcome! Please let us know if you have accessibility needs.
Eric Wright is extension coordinator for the Etowah County Extension Office.
This article originally appeared on The Gadsden Times: Don't break the budget at holidays
