Issue/Problem: End-of-year holidays are supposed to bring joy and cheer but often result in stress caused by overspending and trying to do too much. Credit counselors indicate they expect an increase in their case loads following the holidays because people spend more than they should, driving up charges on their credit cards. In one of the few studies actually done on holiday spending, the Roper Organization surveyed consumers in 1992 and found that most shopping was done after Thanksgiving Day, and those who shopped with a budget (and stuck to it) spent the least amount of money. In the past decade, consumer credit card use has increased. Holiday stress continues to be a result of trying to do too much in too little time.

The purpose of this Dollars and Sense module is to provide education materials about holiday money and time use for short presentations and media. The overall goal is to provide information to help people return to a simpler holiday by spending less and doing less. While the target audience includes all who want to de-stress their holiday, special emphasis is placed on those with limited resources.

Learning Objectives and Outcomes

Participants will:

1. Define their own holiday budget and gift list.
2. Use the holiday credit card "wrap" in their shopping
3. Save money by practicing at least one holiday money stretching idea
4. Save time by practicing at least one holiday time stretching idea
5. Practice the idea of a $50 holiday
An evaluation plan outlines steps for collecting outcome and impact.

Research Base for This Module

For its research base, this applied module draws from core family resource management research including Deacon and Firebaugh; Gross, Crandall and Knoll; and Garman and Frgue; and classic time management theory including Lakein; and Mackenzie and Waldo.

Contents of this module:

- 4 news releases
- 3 news shorts
- 4 radio scripts
- 10 teaching modules with three activity worksheets, discussion questions, case vignettes, and PowerPoint visuals and Ways to Save handout for presentations of 15-60 minutes
- an evaluation plan for media and for presentations including feedback postcard prototypes for use in collecting output and impact evaluation.

Two University of Nebraska Cooperative Extension NebFacts, How to Save Holiday Money (and Time) and Shopping for the Holidays and further support this module.

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Resources Used in Development of This Module

Downey, B. (1998). Avoiding the ghost of holidays yet to come. Guest column, Money 2000+ News, University of Nebraska Extension, Lincoln NE.
Lienhart-Cross, M.A. (1993). Holiday spending plan. Purdue University Cooperative Extension, W. Lafayette IN.
Prochaska-Cue, K. (1988). Don't do it all: How to prioritize holiday activities. University of Nebraska IANR News, Lincoln NE.
Prochaska-Cue, K. (1999). Plan now for holiday spending. University of Nebraska IANR News, Lincoln NE.
Prochaska-Cue, K. (2000). "Wrap" your credit cards before the holidays. University of Nebraska IANR News, Lincoln NE.
Richard, P. (1998). Tips for using credit cards over the holidays. National Center for Financial Education, San Diego CA.
Richard, P. (1998). Twenty holiday spending tips. National Center for Financial Education, San Diego CA.
Schultz, C. (2000). Unplug the Christmas machine. Colorado State University, Ft. Collins CO.
Toner, A. (1998). The holiday bottom line. Nebraska Farmer, Lincoln NE.
The author acknowledges work done by Carla Mahar, Extension Educator, who chooses not to be a co-author of this module nor of the NebFacts associated with it. Thanks for your work, Carla!

Readers and Reviewers for This Module:

The following University of Nebraska extension educators reviewed this module: Leanne Manning, Cathy Johnston, Judy Weber, Deb Schroeder, Carla Mahar, Nancy Schmerdtmann, Sandy Preston, Jamie Goffena. Their comments and suggestions are most appreciated and have been incorporated. 11/01

Dollars & Sense is a series of financial education modules as one program in a total curriculum plan created by the financial management group of the University of Nebraska Sustainable Families Extension Action Team. Modules are available only to extension educators on the Sustainable Families Action Team website, and are being produced on a continuing basis beginning in fall 2001. For further information, contact Kathy Prochaska-Cue, Extension Family Economist and Dollars & Sense Editor, Family & Consumer Sciences Department, University of Nebraska, 123 Home Economics, Lincoln NE 68583-0801, 402.472.5517, or kprochaska-cue1@unl.edu Sandy Preston, University of Nebraska Extension Educator, is webmaster for Dollars & Sense.

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Being Patriotic and Financially Responsible

Heard the latest way to be patriotic? If you listen to advertising today or just the news media, one way to show your patriotism seems to be by spending as much as possible especially this holiday season, says (Name, (Title). But is that really smart in these times of economic uncertainty?

No, s/he says. "One of your first responsibilities is to maintain control of your finances as much as possible in times of economic downturn. That way you won't become a burden on others."

S/He recommends considering your own financial situation. Set a holiday spending limit that's comfortable for you and your budget. Unless your financial situation has changed, spend what you normally do for the holidays. Just don't overdo it. If things are tighter this year, be especially careful.

For most people this time of year is full of temptation to overspend. Why add the additional incentive of believing it's one's patriotic duty to go even deeper into debt? Sounds like just another excuse to spend more than you can afford.

Perhaps you'll decide to give more than you usually do to a worthy charity or community activity. Now that's one way to truly be patriotic.

Produced as part of Dollars & Sense: Celebrating the Holidays, University of Nebraska Extension, November 2001.

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Seventeen Ways to Save Money (and Time) During the Holidays

Do the holidays have you pleading temporary insanity while your spending goes out of control? (Name), (Title), University of Nebraska Cooperative Extension suggests the following money-saving ideas during the holidays:

1. Separate shopping (looking for alternatives) trips from spending (making a purchase) trips. Leave your credit cards at home when you shop. When you embark on a spending trip, take one card and use it only for really essential purchases.

2. Instead of giving presents to others in the family, celebrate by having everyone help at a homeless shelter or serve holiday dinner at a community center or church.

3. Have a $50 or $100 holiday. That's what you'll spend in total including gifts, cards, wrapping paper, bows, cards, everything.

4. Shop later in the season for smaller gifts, Gift wrap and accessories. They often go on sale and you'll get what you need at a lower cost.

5. Set a limit on how much to spend on each person. The most memorable and appreciated gifts are not always the most expensive, but the ones with the most thought put into them. Setting a $3 or $5 limit means it will take a little more imagination to find something for each person but can be a lot of fun.

6. Give something really special - you! Make a certificate promising a special day with you or a special project you'll do for them. It might be painting Grandma's kitchen or spending a day with your spouse - just the two of you! Maybe a child would appreciate a few hours with just you doing whatever it is that's special for them -- fishing or reading books. Promise new parents free babysitting one night each month of the new year.

7. Make your gifts. Whether it's cookies or a favorite quick bread or muffins, a mud scraper for the back door or a mug rack for the kitchen, a decorated tee shirt or floor pillow, remember the fact that you're making it will make it special. Children also enjoy making gifts. What grandparent can resist a simple gift with a special child's handprints or name printed on it? If relatives live at a distance, consider an "art of the month" present. Each month mail one of your child's creations to the lucky recipient.

8. Do holiday shopping at garage sales, thrift stores or rummage sales. You might find clothes including work gear, sweaters, and coats or educational toys, books, or even special "treasures." And there's no better place to find the great one-of-a-kind gift.

9. Several weeks before the holidays, think about the activities you usually do in celebration. Are they all important? What could be eliminated or simplified this year? Do you really need to do everything? Maybe it's someone else's turn to host the big holiday meal.

10. Keep your holiday meal simple, cut back on what you spend on presents, and give the savings to a worthy charity.

11. Slice the Christmas gift list. If it includes distant friends or relatives, maybe this is the year to suggest that you exchange cards instead. You may find they're as relieved as you.

12. Cut back on the card list. If you only correspond at the holidays, perhaps every other year would work. And do you really need to send cards to people you'll see anyway? A hand-written note on holiday paper may mean more than the expensive, glitzy card.

13. Pass along family treasures to younger family members instead of buying a gift. Great-Aunt Mary's embroidered pillowcases or crocheted doilies, Grandpa's pocket knife or watch, or that old trunk or wooden chair might be greatly appreciated by a child, grandchild, niece or nephew.

14. Draw names instead of buying gifts for everyone. If you limit the amount you spend, it's even more fun.

15. If it's been a challenging year and finances are really stretched, cut out the adult gifts, even for spouses, and try for a little something to keep the magic alive for the little ones. If you suggest this, you may be surprised that even older children are willing to be considered adults so younger siblings can have a special gift or two.

16. Give gifts to adults on New Year's Day. You can take advantage of after-Christmas sales.

17. Children can make special, one-of-a-kind cards or wrapping paper. Use plain paper, paint, stencil, crayons and let their imaginations run wild!

Concerned about how your kids will fare when they compare holiday loot stories with their friends? Give them something to talk about like "We decided to limit our spending and gave (money, time) to the homeless shelter." Or "We decided to have a real old-fashioned Christmas so we turned off the television and spent the day as a family, sledding, and playing cards or board games. It was great!"

Produced as part of Dollars & Sense: Celebrating the Holidays, University of Nebraska Extension, November 2001.

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Avoid the Ghost of Holidays Past

Holiday time often gives the average American a temporary license to lose financial control and repent for months afterward. Our emotions, culture and habits all work against remembering and practicing good money management, says (Name), (Title), University of Nebraska Cooperative Extension. S/he suggests these tips to avoid paying for the holidays well into the next year:

*Use only one credit card. Better yet, pay for everything with cash. That way if you don't have it, you don't spend it.

*Wrap that credit card in an index card. Every time you use it, write down the amount you spent on the index card, and add to what you've already charged. Use that "running total" to help you keep track of your debt.

*Or set a limit before you first use the plastic for holiday spending. Write your spending total on the index card. Then every time you use the card, subtract the amount spent so your "running total" reflects how much credit you have left to spend.

*Resist the urge to join the holiday spending frenzy. Sometimes we even buy ourselves gifts!

*Ask why you are buying each gift. How much guilt is reflected in your holiday spending? What can you change throughout the year to reduce your guilt-spending at next year's holiday?

*Maybe like many others, you tend to overdo in an effort to make others happy. People cook too much food for gatherings. They shop for a special gift for each person on their list and yet, Cousin Mark does not remember what he received from them two years ago. Or maybe they don't even remember what they gave him then. Sound familiar? Maybe it's time to change your holiday gifting habits.

*Think about ways you could save money during the year so you'll have holiday cash to spend for the next holiday season. One Nebraskan carried lunch to work each day and deposited what he saved into a special savings account. That holiday season he paid cash for his gifts, and he lost weight too! Will he go back to using the plastic and paying off Santa in May? "Not on your life!"

To make the holiday season truly happy, focus on family, friends and those in need rather than on spending or excessive work. Slow down and enjoy each other and the season.

When January rolls around, start planning for next year's holiday season. Set aside a few dollars each week to use for gifts or other holiday expenses. Take advantage of clearance sales on lights and other decorations now to avoid paying full price for the same items next year.

Produced as part of Dollars & Sense: Celebrating the Holidays, University of Nebraska Extension, November 2001.

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Please complete the evaluation after you use this material.

News Short

Any of the points in the above news releases could be used as a short or strung together in a column.

News Short

How to Have a Happy $50 Holiday

A $50 holiday...that's the total for absolutely everything you spend. Sound impossible? (Name), (Title), University of Nebraska Cooperative Extension, says here's how:

*First, have a family conference. Topic: The holidays. Talk about the activities and expenses surrounding the holiday. What's most important to each person? How can you still do what's important and not spend more than $50?

*Put your plans in writing. Post it where everyone can see it often.

*Scrutinize your holiday card list. Can you make your cards or send postcards? Do you really need to send cards to people you see during the holidays?

*Be creative when you wrap gifts. Use newspaper...fabric scraps...brown paper...or no wrap at all.

*If you usually buy a tree, think about using something else...a cedar from your pasture (or with permission from someone else's) or a special holiday decoration you already have in your holiday cache or small tree you made in ceramics class years ago.

*Turn your family's special holiday events into ones that are community-based and free.

A side benefit of a $50 holiday can be recapturing the true meaning and spirit of the season, say those who have tried it in the past.

Produced as part of Dollars & Sense: Celebrating the Holidays, University of Nebraska Extension, November 2001.

News Short

Wrap Credit Cards Before Shopping

Before you hit the stores this holiday shopping season, wrap all credit cards, says (Name), (Title), University of Nebraska Cooperative Extension. This may help save money or avoid impulse spending.

On half of an index card, write the total amount you intend to charge to the card. Then wrap the card in the index card before putting it into your wallet. Each time you use the credit card, subtract the amount charged from the total to give the amount equal to what you can still charge with the card.

Or write your gift list with the maximum amount you plan to spend on each person on one side of the holiday credit card "wrap." Use the "wrap" to tally what you've spent.

Replace the wrapped credit card in your wallet in such a way that you can't get the card out without also taking out the "wrap."

Just un-wrapping the credit card also may give time to ask the question, "Do I really need to charge this? Is it really that important?"

Use a holiday credit card "wrap" to help you save money when you shop.

Produced as part of Dollars & Sense: Celebrating the Holidays, University of Nebraska Extension, November 2001.

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Please complete the evaluation after you use this material.