As the New Year approaches, are you writing down some goals or resolutions? Each year, I try to identify one or two new things I want to try, or do differently. I often use the beginning of the New Year to adjust my savings strategy so that I can also meet my goal of having some funds to be able to travel and visit my family when summer rolls around.
This is also the time of year that I have to pay the bills for the gifts that I purchased during the holiday season. Having a spending and savings plan is important. Children learn so much from watching how other family members and friends use money. As adults we can model good spending habits, and educate our own children so that they will develop good consumer management skills. You may be curious about what resources are available to help you teach your child about how money works or how to be a good money manager as an adult. I would like to suggest you explore the following links:
Wishing you and your family a great and prosperous New Year!
As the holiday season approaches, many of us find ourselves looking at the calendar and making checklists, of things that require our attention, like baking; cleaning; holiday school programs, and gift shopping.
If you are someone who has a list of people that you shop for at the holidays, then this time of year is a busy one for you. Depending on who you are shopping for, the gift buying experience can be stressful. You may wonder if you have saved enough money to buy all the items on your gift giving list. You may also be filled with stress trying to find all the requested gifts your children seem to have this time of year.
Research reported in the Journal of Consumer Research has found that for many, it’s better to provide an experience, than just a gift itself. In fact, the research suggested that these experiences may in fact strengthen relationships between people! During the holiday season, instead of giving gifts that may need to purchased, wrapped and delivered, maybe we can re-think our gift giving strategy. What if we were to give a skill or a helping hand to someone we care for?
Could we offer our TIME, to wrap someone’s holiday gifts? Could we offer to address Christmas cards? Could we offer to go to the grocery store or shopping mall and shop alongside someone who may need extra time or attention? Consider spending a day at the senior center and visiting and listening to the stories of the residents. These are the priceless gifts of attention that so many of us can give, and others will certainly appreciate.
Don’t forget, caregiving can be the special gift you give to your family this season. Focus on helping your family members eat healthy; get plenty of sleep and exercise during the holidays! The caregiving we show to one another today will be repeated for the good of all for years to come. Stay in touch with Iowa State University Extension and Outreach your Human Sciences Specialists for information on family finances; nutrition and wellness and caregiving. Happy Holidays!
It is summer time and I am thinking about foods that we find plentiful in the garden. Sweet corn here in Iowa is something to treasure. Our gardens are also bountiful with tomatoes; lettuce; squash; beets; potatoes and so much more! Harvesting each of these delicacies and finding delicious ways to prepare them, may be more challenging for us! Do your children find the foods I just mentioned, appealing? If not, it may be because they are foods that have not been on the dinner plate lately!
Introducing new vegetables, especially when in season, is one way to help children learn to enjoy and consume these healthy foods. I want to encourage you to take a peek at our Spend Smart Eat Smart website! This site is full of delicious recipes your family will want to try! In addition to recipes, this website features videos and information to help you when you are shopping, including unit pricing!
We have even launched an APP – for Spend Smart Eat Smart, so that you can access the site from your smart phone, while you are grocery shopping for your family. Happy eating to you and your family this summer!
Welcome guest blogger, Carol Ehlers, Human Sciences Specialist, Family Finance for this months topic on “Gits and Giving”
Simple Christmases that are low on cost but high on meaning are possible. In fact, a $10 limit per person is possible by carefully planning holiday spending.
The first step to achieving a small holiday limit is to make the decision to hold down spending. Tell relatives and friends you’re choosing to set a budget for exchanging gifts. This can be hard to do, but you may find that keeping holiday spending down can pay off in some unexpected ways.
Next, decide how to spend the budgeted Christmas funds. Will some be spent on the adults, or will it all be spent on the children?
Be creative by giving “low-cost experiences.” Many studies show that material possessions do not equal happiness and that experiences are much more intrinsically fulfilling than things. A Cornell University 10 year study and Journal of Psychological Science report confirm why experiences have the ability to contribute to happiness more than material purchases. Successful low-cost experience examples range from pottery making, rock climbing, horseback riding, bowling or skate tickets. Consider “Every Kid in a Park” (a free year-long national park pass https://www.everykidinapark.gov/ or geocache treasure hunts that end with ice cream. Consider sharing a skill or classes to experience sewing, painting or other similar activity. To keep it low-cost, find a family member, friend or community event to teach the skill at a discount.
Proven family focused gifts range from museum or science center memberships–to orchestra or community theater tickets– to a tent for camping. Sometimes a material gift can lead to an experience.
Families who have tried this low-cost Christmas have found it was more meaningful. Families that keep to their Christmas budget plan enjoy the feeling of financial security knowing there won’t be large bills to try to pay in January. There is also a good chance those inexpensive and thoughtful gifts will bring out the best in everyone and will be more meaningful.
We would love to hear about your inexpensive gift ideas! Share with us!
For more ideas download a free copy of ISU Extension and Outreach publication “Track Your Spending,” or “This is the Way I Spend My Money” a 12-month spending record.