Holiday Spending Tips

So you survived the madness of Black Friday and we want to congratulate you for that. But we all know, there are more presents to buy...

At Savvy Student we want you to save money and spend wisely. The stress of the holiday season is in full force and can often times distract us from our goals and make us into holiday grinches. Jennifer Lane, Certified Financial Planner has offered up her advice on how to manage your holiday money stress and celebrate the true spirit of the season.

Make a list and check it twice
· The holidays can get crazy. Create some focus around what's really meaningful and be sure you can do the important things by making a list of everything you might spend money on. Include gifts and events, and don't forget items like extra gas or travel expenses, food for special meals or even extra take-out, and party clothes you might need.
· Next, sort your list by priority with the most important things on the top. Then fill in what you plan to spend on each.
· Total the list from top-to-bottom. Once the budget is spent, cross out anything left at the bottom of the list that didn't get funded. These should be the smaller, less important things. If not, try some of the tips below.

Stretch your holiday budget
· Use your list to set a per-person gift limit to minimize impulse purchases while you're shopping.
· Give one gift to a couple or a family. Gift baskets and coupons for chores or babysitting are always appreciated.
· Go green; save paper and postage. Trim your gift and card list where you can.
· Write a note or make a phone call - sometimes what you say can mean more than the most expensive thing you could buy.
· Remember, it's the thought that counts. Give handmade gifts or share potluck meals in place of a big party.

Give fun gifts that are financially savvy

For the young and not so young on your list:

· A savings bond coupled with a tour of a local bank can get the younger crowd excited about saving.

· Money Savvy Piggy Bank , a fun way for kids to learn about saving, spending, donating, and investing.

· Give a gift certificate for a SmartyPig account. SmartyPig is an online savings account that's been assigned a goal. The account accepts deposits from the account owner, friends, and through gift certificates. Once the goal is met, the account owner can make a withdrawal.

· YoungMoney.com is a great online and print magazine for teens and young adults.

· Food and gas cards can be a welcome gift this time of year.

· Make a charitable contribution to your hosts' favorite charity or an organization in their town in place of a hostess gift. Check CharityNavigator for info.

Gift cards and certificates

Read the fine print when purchasing gift cards:

· Where card is valid - online, in-store, or both

· Replacement policy

· Payment policy if purchase is larger than the card balance

· Refund policy for balances remaining after a purchase

· Expiration, transaction, maintenance, and service fees

Access to these tips was provided by Compass Planning Associates.

We hope you find all that you need for everyone on your list this year. If you have any additional tips or techniques for this holiday season please send us your comments.

'Tis the Season,

Savvy Student