Getting Prepared for the Holidays

Getting Prepared for the Holidays
Savannah, Mo. The holiday season is almost here. Are you prepared? Dr. Rebecca J. Travnichek, Family Financial Education Specialist with University of Missouri Extension shares some tips on how to spend less and get more over the holiday season.
· Make holiday travel plans early. If you are planning to travel over the holidays, don’t delay: make your travel plans now. If you will be flying, advance planning could save you a lot of money. Cheap seats go fast.
· If you’re having guests at your home for the holidays, prepare the food yourself. Holidays are expensive enough without having to drain the family coffers by feeding guests. Unless you are hosting a truly monumental banquet, avoid the expense of a caterer. Instead, enlist the help of other family members and relatives who are invariably hanging around during the holidays.
· Cook it all at once. If you’re preparing the big feast, don’t waste time and money by cooking each item separately. (Cook the roasted potatoes and the pies together). Figure out a way to prepare the meal without being a financial turkey.
· Ask your guests to bring food and drink if you’re having a big holiday banquet. Victuals aren’t cheap and neither are spirits, especially if you plan on feeding a gaggle of revelers. Asking each guest to bring along some food is standard operating procedure these days.
· Cut down on the gift-giving. The plain fact is that most of us spend more on gifts than we should. (The price of a gift is not a measure of affection for our loved ones.) Be more imaginative. Note: You’ll know you’ve got control of your personal finances when you spend at the same rate between Thanksgiving and Christmas as you do between Christmas and Thanksgiving.
· Buy family members gifts they need. Sure it may not be your idea of romance, but if your husband needs a band saw, why not give it to him for his birthday? He’s going to enjoy it a lot more than a necktie or a sweater.
· Give gifts that show the recipient the importance of saving. Like U.S. Savings bonds.
· Don’t buy gifts that will keep on costing the recipient money. Like the video game gadgets that require cartridges.
For more information on this or any other family or personal finance topic, contact Dr. Rebecca J. Travnichek at the Andrew County Extension Center (816) 324-3147.