Posts Tagged ‘holiday shopping’

How to Cope When You’ve Overspent on the Holidays

Monday, December 19th, 2011

For worried shoppers whose holiday enthusiasm may have pushed them beyond their financial limits, a University of Maine Cooperative Extension family budgeting specialist is available to offer advice.

With the holiday peak still a few days away, retailers are reporting record merchandise returns by gift-givers who have changed their minds. Buyer’s remorse over excessive impulse buying can be mitigated, however, says Cooperative Extension family budgeting expert Jane Conroy.

Before returning purchased gifts that consumers decide not to give, after all, Conroy says shoppers should be aware of store return policies, keep a list of purchases and hold onto a gift receipt for each. When returning an item, understand the reasonable expectations. “Do I want another item, do I want my money back, or a gift card?” she adds.

Another way to avoid overspending next year is to assess what was purchased that may not have been necessary. On other words, Conroy says, “How can I learn from what I did wrong this year? What can be changed in the future?”

For those looking at swollen credit card debt, Conroy advises that solid home budgeting and thinking about the difference between “need” and “want” can help consumers with hard decisions when it’s time to trim spending all the way around following the holiday season.

Conroy can be reached in the Piscataquis County Extension office in Dover-Foxcroft at (207) 564-3301, toll-free in Maine at 1-800-287-1491, or by e-mail: jconroy@maine.edu, to discuss what to get back on track with basic budgeting principles.

An Extension “Experts on Demand” YouTube video on gift giving and overindulgence featuring Extension child and family development specialist Leslie Forstadt also offers ideas for alternative gifts to and from the whole family.

Black Friday Holiday Sales Forecast

Monday, November 22nd, 2010

Alternatives to Expensive Gifts

Monday, November 22nd, 2010

It’s the time of year when thoughts turn to holiday shopping – and the pressure of buying the perfect gift or making sure no one is forgotten.

University of Maine Cooperative Extension Child and Family Development Specialist Leslie Forstadt says there are plenty of alternative gift ideas for holidays such as Christmas and Hanukkah that can alleviate the stress of shopping and bring meaning back to the holidays.

“There is a movement where people are trying to give less on the holidays and think about what the holidays are really about,” Forstadt says. “It’s not about the stuff. It’s really about creating experiences and a gift having meaning and a lasting impact.”

Adjusting to that mindset can open up families to the concept of alternative gift-giving. Forstadt suggests considering experiences that bring together a family, combining funds to make a donation, running a Secret Santa-type gift exchange for a large family, and adding personal touches to inexpensive store-bought gifts.

In addition, Forstadt says, parents or others doing gift-purchasing should take into consideration the often short attention span of children when thinking about toys used as marketing tools of the latest movie or television show. Such toys could be cast aside after just a few weeks or months of use.

Forstadt also suggests rethinking family vacations to include picnics, treasure hunts or geocaching instead of, for example, expensive and travel-heavy trips to amusement parks.

“The idea that spending time together is a quality thing is undervalued,” she says.

It may be difficult to resist the lure of a pile of presents on Christmas morning, but creating a habit of thoughtful gift-giving methods when a child is young can generate reasonable expectations about the gift-giving process.

“There’s this feeling of, I have to buy a lot of stuff for my kids and family,” Forstadt says. “Of course, you want the best for your family and to give them the things they want. But we have to think about whether we’re overindulging our kids. Some nice conversations to have with your kids at this time are about wants vs. needs. It’s kind of changing the culture within the family to be less focused on stuff.”

Contact Forstadt for more ideas and information.

Ways to reduce your holiday costs.

Ways to reduce your holiday costs

Thursday, November 18th, 2010
  • Stay within your budget.
  • Give to a charity in someone’s name — it serves two purposes.
  • Give a coupon for services you can provide — such as gardening or cooking.
  • Draw names and set limits on gift prices.
  • Make a gift. This can be easier than you may think. For example, put together cleaning supplies, a decorative bottle, and our money-saving cleaning formula recipes.
  • Watch for unexpected expenses such as holiday decorations, wrapping paper, party outfits, more phone calls, Yankee swap, and extra baked goods for office parties.

More Money-Saving Holiday Shopping Tips.