Holiday budgeting simplified by SIFE

Whether deciding what old-time favorites to surprise your mom with this holiday season or designing the sweetest gift for your special someone, one factor will almost certainly come into play: money. It is important to remember that there is no such thing as a free lunch, or a free iPod, for that matter. Unless you are the child of a Fortune 500 executive, chances are that you are purchasing your holiday gifts on a tight budget. Fortunately, there are some techniques you can use to ensure that you get the right gifts for everyone at the right price.

A fundamental part of any budgeting challenge is setting priorities. You will want to allocate the most money to your most desired purchases, and then decrease the money you spend on items in diminishing order of importance. Tabulate each of your purchases in a spending diary, regardless of the amount spent.

Also, many people find themselves encountering dire debt woes when they place too many purchases they cannot afford on credit. Remember to limit your purchases to those which you can pay for immediately or can reasonably expect to pay in the near future.

The first step is identifying those for whom you wish to purchase gifts. Then, you need to determine how much you can afford to spend on these gifts. In addition to the gifts themselves, you should also budget some money for paraphernalia such as wrapping paper, cards and postage stamps.

For these items, purchasing in bulk may earn you a discount. When you finally venture out to find your gifts, remember to create a definitive list and avoid making unplanned “impulse purchases.”

Whether you will be celebrating Christmas, Chanukah, Kwanzaa or another holiday, it will nevertheless be crucial not to overextend your finances while purchasing gifts. Your loved ones may be priceless, but their gifts do not necessarily need to be pricey. With the ideal budget, you can find a way to keep everyone festive and joyous without the added blast to your wallet.

This article was originally published in the Etownian on Thursday, December 6th, 2007.

Going Green for Your World & Your Wallet

Simple changes can result in easy savings, for both the climate and for your budget. Try these simple tips:

• Close the Refrigerator door - Leaving the door open for only a few minutes releases cool air, making the compressor work harder, and wasting significant amounts of energy.
• Turn off the lights! - Energy is saved by turning off a light for just one second. Think how much energy can be saved by turning off the lights when at class.
• Unplug appliances when not in use - Appliances continue to use energy even when turned off. Unplugging them removes this energy loss and is also safer, reducing the chance of an electrical fire.
• Avoid excessive amounts of fast and/or prepackaged foods - These types of food (which are often rather expensive as well) are often over packaged. Limiting their use reduces the amount of trash headed to a landfill. If you do have trash left over after a meal, make sure to dispose of it properly instead of throwing it along the roadside.

By using common sense, you can easily save some money in your wallet, and save help the future as well.

These tips are based on those originally posted in the September issue of EC SIFE's Bathroom Business, a monthly publication distributed throughout the Elizabethtown Campus. Check out this month's issue for more tips.

References:
Save a buck save the world - CNN Money - June 1, 2007
Going Green