United Way Center for Financial Stability offers 10 tips for financial success this holiday season

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United Way Center for Financial Stability offers 10 tips for financial success this holiday season

Budgeting tips and creative gift ideas for the whole family

It’s that time of year again – time to buy gifts for family and friends, while trying not to overspend. The experts at the United Way Center for Financial Stability have compiled 10 tips to remember before you hit stores this holiday season.

“Spending will increase during the holiday season, making it important to have a clear plan of how much you are going to spend on gifts, events, outings and travel,” says Karina Ron, director, United Way Center for Financial Stability. “Planning ahead is the best way to avoid holiday stress and enjoy the season on a budget that doesn’t set you back for the rest of 2017.”

Top 10 tips for the holidays…

  1. Set expectations and goals: Having a clear picture of monthly spending and saving is essential for a family’s financial well-being at all times, especially during the holidays when spending increases.
  2. Make a holiday budget: Take into account everyone you plan to buy a gift for, no matter how small the gift may be. Include ideas of what to give each person, along with the maximum amount you’re willing to spend. Also, remember to factor in extra expenses such as outings, outfits, events and travel when creating your budget.
  3. Start shopping early: You always find the best gifts when you aren’t looking for something specific.
  4. Do your research: Once you decide on a gift, make sure to look it up on the internet to see if there are good reviews and any special online deals.
  5. Consider supporting a charity: Give your time to an important cause. You can volunteer, participate in a toy drive or donate to charity. Consider using Amazon Smile this holiday season by selecting United Way of Miami-Dade as your charity of choice at smile.amazon.com. This holiday season, Amazon.com will automatically give back .05% of your eligible purchases to United Way of Miami-Dade.
  6. Participate in Cyber Monday: Most online retailers offer special discounts and free shipping on the biggest online shopping day of the holiday season. No lines, no waiting.
  7. Plan a gift exchange: Coordinate a gift exchange with family members, where each person gives and receives one gift. This is a great plan for the adults in your family.
  8. Do it yourself: A handmade gift is often times more special than a purchased one. Take time to think of gift ideas that you can make in your own home. Websites like www.Pinterest.com and www.Etsy.com offer tutorials that show you how to create all types of gifts.
  9. Consider giving a personalized IOU card: Offer a family member or friend a coupon to babysit, organize a closet, mow the lawn or go on an outing to a park or museum.
  10. Remember the reason for the season: Holidays are about enjoying time with family and friends. This holiday season, think of what is important – love, family, health and laughs. Remember that you don’t have to say yes to everything and everyone.

For more information and resources on keeping your family financially fit year-round, visit www.miamifinancialstability.org.

November 29, 2016