When the bills come in in January, the good feelings from the holidays can turn sour.
Oneida County UW-Extension Family Living educator Sara Richie says the best way to approach the spending season is to set aside money at other times to use at this time. But she says that isn't always possible...
"....a good start is to write down all your expenses for the month. See what you have left over, from there, write down the expenses your going to have over the holidays, what presents you need to buy. Can you home-make some presents. What are your necessities over the holiday and go from there...."
Sara Richie says even though spending is fun, to go into debt to do it isn't a smart long-term strategy.
She says cutting to save money for presents and making a spending budget make more sense...
"sometimes people like to buy coffee or go out to dinner. Sometimes you can cut back on those things over the holidays to save money for your spending. What I like to do is make a list for all the people I like to get gifts for, write down the amount of money I want to spend and stick to it. I don't allow myself to go over...."
She says to remember that holiday giving and gatherings are about expressing love and appreciation for others. She says money isn't always the most important thing, it's what you can create and put your personal touch on that does matter.
More tips on budgeting is available by contacting Richie at Oneida County UW-Extension.
