Managing Your Holiday Spending
MoneyWatch for December 2005
Share
The average American plans to spend $747 on the holidays in 2005, a 4.3% increase from last year. It will take six months for the average consumer to pay off this debt. Many will spend much more, and some will even put their personal finances in jeopardy by overspending during the holidays.
Experts agree the best way to keep spending in check is to create a reasonable seasonal budget and stick to it. Other tips to help curb spending and avoid crippling debt are:
Give handmade gifts or a “coupon” for a service
Avoid using credit
Remember to include costs for entertainment, postage, travel and parties in your holiday budget
The holidays don’t have to be a financial burden. Below is a list of resources that can help you plan your budget, manage stress, find free or low-cost activities and gifts and avoid spending pitfalls. Remember - it really is the thought that counts.
Local Resources
Coping with the Holidays (a locally produced booklet with tips to curb holiday spending, manage stress and more)
Debt and Money Management - Local Links from United Way’s First Call for Help
Many community holiday events are free or inexpensive. For ideas, please visit the links below:
Cleveland Convention & Visitors Bureau Event Calendar
Lock 3 Live Holiday Fest - Downtown Akron
Free Local Events
Worksheets
Holiday Expense - Budget Worksheet
Holiday Gift List - Budget Worksheet
”Manage Your Holiday Spending,” a downloadable brochure from The American Financial Services Association Education Foundation (includes Holiday budget worksheets, tips to save money and tips to protect credit cards)
National Resources and Articles
mymoney.gov (a general personal financial information resource provided by the U.S. Government)
Holiday Shopping Tips (from Myvesta, a nonprofit consumer education association)
“A Holiday Tradition to Break: Overspending,” from msn.com
“The 13 Worst Holiday Spending Blunders,” from msn.com
“50 Ways to Trim Your Budget,” from msn.com
“Holiday Spending on a Tight Budget,” from the Financial Planning Association
“Frugal Crafts and Homemade Gifts,” from betterbudgeting.com
“How to Save on Gifts and Make Christmas Affordable,” from ezinearticles.com
Free Local Events
Holiday Circlefest
Events, Holiday
More than 20 University Circle museums, gardens, galleries, churches and schools will open their doors, free of charge, for one dazzling day of music, hands-on activities and holiday shopping for all. The Cleveland Museum of Art’s Winter Lights Lantern procession on Wade Oval is from 5:30-6 p.m.
WHEN: 12/04/2005, 1:00-5:30 p.m
WHERE: University Circle Incorporated
10831 Magnolia Drive, Cleveland
(216) 791-3900
Holiday “Crafternoon”
Arts and Crafts, Children’s, Holiday, Park Events
Hey, kids! Looking for something to give to someone special this holiday season? The best gifts are from the heart! Come create a hand-made, nature craft - perfect for the season!
WHEN: 12/10/2005, 1:00 - 3:00 p.m. at S. Chagrin Reservation, Look About Lodge
WHERE: Cleveland Metroparks
4101 Fulton Parkway, Cleveland
(216) 351-6300
Free and open to the public. Call (440) 247-7075 for information and registration
Festival of Trees
Exhibits, Holiday
Featuring more than 70 beautifully decorated trees lining the Theatre’s lobbies. Salvation Army Angel Tree will be featured in the theatre’s rotunda.
WHEN: 11/19/2005 to 12/30/2005
Nov 19-Dec 22 - 9 a.m.-9 p.m.; Dec 23 - 9 a.m.-noon; Dec 26 - Noon-5 p.m.; Dec 27-30 - 9 a.m.-5 p.m. Closed Nov 24, Dec 24-25
WHERE: Cleveland Play House
8500 Euclid Ave, Cleveland
(216) 795-7000
Free community event
Christmas Candlelighting Ceremony
Family Events, Historic Sites, Holiday, Music and dance
Live reindeer exhibit on Dec.3, from 3:00 - 6:00 p.m. at the Visitor Center. During the Candlelighting Ceremony, traditional carols are sung by guest choirs, and the reading of a Christmas story. A visit with Santa, horse-drawn surrey rides, stoll through luminary lighted streets, shop at cheerfully decorated shops. Roasted chestnuts and hot-mulled cider and cookies will be available. Tours begin at the Visitor Center. Visit this canal town throughout the month of Dec.
WHEN: 12/03/2005 to 12/17/2005
Candlelighting at the Main Stage, 6:00 p.m.; Candlelight tours, 7:15 p.m. on Saturdays only
WHERE: Roscoe Village
381 Hill Street, Coshocton
(800) 877-1830
Free and open to the public. Call (740) 622-9310 or (800) 877-1830 for information
Christmas in Peninsula
Events, Family Events, Holiday, Library/Bookstore Events
Come in to see the latest releases from your favorite authors and our wide selection of new & classic holiday titles for great gift-giving ideas. Enjoy a fireside chat with a visiting author and have a cup of complimentary coffee or hot cocoa. Kids can visit with Santa in the Heron’s Nest, hear classic winter tales, and make a keepsake ornament.
WHEN: 11/26/2005 to 12/18/2005
Sat. & Sun. all day
WHERE: Blue Heron Bookstore
1593 Main Street, Peninsula
(330) 657-2575
Free and open to the public
St. Nicholas Festival
Arts and Crafts, Benefits, Festivals, Holiday
Presenting story times, crafts, sing-a-longs, and student performances throughout the day. In addition, St. Nicholas will be visiting to welcome and talk with the children. There will also be a silent auction, a bake sale and vendors to create a festive and fun atmosphere to help you start your own Christmas gift giving.
WHEN: 12/03/2005
10:30 a.m. - 5:30 p.m.
WHERE: The City of Cuyahoga Falls Natatorium
2345 Fourth St., Cuyahoga Falls
(330) 971-8080
Free and open to the public
Shaker Historical Society Holiday Open House
Exhibits, Family Events, Holiday, Museums
Enjoy the music, the exhibit “Winter Wonderland,” refreshments, shopping in the Spirit Tree Museum Shop.
WHEN: 12/11/2005
2:00 - 5:00 p.m.
WHERE: Shaker Historical Society
16740 South Park Blvd., Shaker Heights
(216) 921-1201
Free and open to the public. Call (216)921-1201 for information
Support for MoneyWatch is made possible by Charter One Foundation.
Research assistance for MoneyWatch is from Cleveland State University Nance College of Business Administration. Information on the Nance MBD program is available here.
