Ichabod Financial Counseling $ervices
Ichabod Financial Counseling $ervices (IFC$) is committed to assisting Washburn University students in developing and realizing their financial intellectual capabilities by empowering them to analyze their personal finances, to develop and maintain a personal budget, and to control their financial situation in order to be fiscally responsible citizens.
Holiday Spending Survival Guide
Are you crazy for the holidays, spending thousands of dollars on holiday gifts, lights, entertaining, food and decorations each year? If so, you’re not alone. Many Americans feel the sting of holiday spending well into the new year. If you love to celebrate the holidays but don’t love the financial pinch you experience afterward, there are several great tricks for giving and celebrating, without breaking the bank.
So when you’re out battling the holiday crowds and heading to social commitments with family and friends, consider your wallet and protect your budget with these simple tips:
- Know your limit. Sit down and plan out your holiday budget before you head to the malls this year. Gifts, large or small, can really add up, leaving you with a hefty bill at the end of the season. Use this free Holiday Budget Calculator to estimate how much you plan to spend on presents. Then keep track of your spending using this Gift Log.
- Plan ahead. You’ve done your budget and you’re ready to tackle the crowds. Here are a few ways to save on shopping, whether online or in the stores:
- Look for special “savings days” at your favorite retail stores.
- Use coupons from your newspaper, online or in-store.
- Take advantage of free shipping with online purchases.
- Buy gifts throughout the year, not just during the peak season.
- Trim your list. Do you really need to exchange gifts with everyone in your family? Consider cutting your list back this year. Or suggest giving a group gift to certain members of your family rather than individual gifts. Just because you had a long gift list last year doesn’t mean you need to repeat it this year. You may find that other members of your family love the idea.
- Reduce your stress. The holiday season is stressful enough with demands from family and friends, not to mention social commitments for work or other groups. Try to plan ahead as much as possible, avoiding last-minute buys will impact your budget. Also remember to maintain your daily routines to keep stress levels low. If you usually take a walk or go to the gym every day, take the time to continue the habit during the hectic holiday months.
- Enjoy the season. In the end, the holidays are all about enjoying friends and family. Staying focused on time with loved ones and other joys of the season can help you to keep stress in perspective. If you are hosting holiday parties at your home, use this Entertainment Planner to plan for the costs. Rather than feeling obligated to host an event every year, suggest a rotation for who will host holiday gatherings. And remember that it’s much better to keep spending down and stick to your budget. It’s a great feeling to start off the New Year on the right financial foot.
Article from Practical Money Skills for Life
The Ichabod Financial Counseling $ervices (IFC$) believes in educating Washburn University students around the MyMoney Five Principles.
- Spend – Ichabod Financial Counseling $ervices (IFC$) aims to provide Washburn University students with the tools for developing and maintaining your budget and how to prioritize your spending choices.
- Earn – Ichabod Financial Counseling $ervices (IFC$) aims to enhance Washburn University student’s understanding of your paycheck, including deductions, taxes, and investing in your education.
- Save & Invest – Ichabod Financial Counseling $ervices (IFC$) aims to educate Washburn University students on the importance of saving for short-term and long-term goals.
- Protect – Ichabod Financial Counseling $ervices (IFC$) aims to educate Washburn University students on protecting yourself from identify thief, fraud, and scams while highlighting the importance of having the appropriate of insurance.
- Borrow – Ichabod Financial Counseling $ervices (IFC$) aims to educate Washburn University students on borrowing smartly on their educational student loans, consumer debts, and how your credit score affects your ability to borrow.
Go to Washburn University’s Financial Literacy page for more tips and helpful financial literacy tools.