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offers holiday budget tips
Families can reduce the financial stress associated with holiday
shopping by following a few basic tips, says Texas Woman’s
University’s Paula Ann Hughes, professor and director
of TWU’s School of Management.
season, finding extra money for the holidays beyond standard
monthly expenses may pose an extra challenge,” Dr. Hughes
said. “Spending too much money on gifts, decorations
and other items can add to a family’s already stressed
Here are some tips
for budgeting for a successful holiday:
• Set a
limit of what you can spend this holiday season and arrange
price limits for gifts with your family. Draw names or agree
to “children only” gifts.
• Try to only use cash for purchases, so that you
don’t find yourself in credit card debt.
• Check out store promotions or special sales, but
make sure you fully understand the terms and conditions.
Search clearance racks for sale items.
• Don’t wait until the last minute. Give yourself
time to compare prices. With the tight economy and low consumer
confidence, many retailers are offering lower prices to
• When shopping online, try to find specials with
free shipping. Order early to avoid premium-shipping charges.
• Shop alone. A tired spouse or child may encourage
you to impulsively buy some items so the family can get
• Some of the best gifts are “priceless,”
so be creative with your gifts. Consider giving homemade
items or personalized gifts or offer items of service, such
as babysitting as alternative gifts.
• Instead of giving gifts to friends, have a potluck
holiday gathering with the “white elephant gift exchange.”
• Eliminate coworker gift giving by sponsoring a needy
family or have everyone bring a DVD to exchange.
Director of News and Information
Tel: (940) 898-3456