OSU Extension offers tips for mindful spending during the holiday season
KOKH - November 21, 2023 6:07 am
STILLWATER, Okla. (KOKH) — With the holiday season quickly approaching, Oklahoma State University (OSU) Extension has tips to help consumers keep their spending in check.
OSU Extension first recommends that you determine how much money is available for holiday spending. Figure out what categories need funding, including gifts, food, and decorations, and then set a budget for each category.
It is also recommended that you use cash instead of credit, ‘because it’s easy to overspend on credit without realizing it’.
Suzette Barta, Community Engagement Coordinator for OSU’s College of Education and Human Sciences – Extension said “To help keep your holiday budget on track, think about intentional or mindful spending. It can be easy to overspend due to impulse buying, lack of planning, or even making guilt driven purchases”.
Barta also recommends discussing budget expectations with your family.
“Set a dollar amount to spend on each other’s gifts, draw names for a secret gift exchange, or suggest only handmade gifts for adults. As families continue to grow with the addition of spouses and grandchildren, it can be a financial struggle for some families to continue traditional gift-giving. Planning and setting a budget will help keep spending under control,” Barta said.
And while shopping online may be convenient, Barta also recommends shopping locally whenever possible.
Shopping locally allows you to keep money in your community, connect residents to their community, and offer the opportunity to find unique gifts.
Barta also reminds consumers that enjoying the holidays doesn’t mean emptying the bank account.
There are other ways to enjoy the holidays, such as looking at light displays, drinking hot chocolate, and playing board games.
For more information on OSU Extension, visit here.