Money management tips for holiday gift-giving --RSS Feed

By Katrina Twyman, Independent Living Services Coordinator
Here comes the holiday season! If you’re like me, you start thinking to yourself “Oh my, I have so many people to shop for and not enough money!” For many people with and without disabilities, it may be very difficult to stretch money for gifts after paying all of the monthly bills and expenses.

Man using wheelchair makes food for family
Are you good at cooking or baking?
Give the gift of a favorite meal or dessert.

There are ways to help you save and lessen the stress so you can avoid a financial mess. Most people have a budget for the month, so if your budget allows you to take a little bit of money out of each check at the beginning of the year and put it to the side for a “Holiday Account” go for it in 2019!
Here are some other ways to save:
  • Decide how much you can spend and create a holiday budget
  • Make a list of people and ideas of gifts to get them
  • Plan ahead and buy gifts throughout the year
  • Pay cash instead of using credit cards (you will be paying more in the long run)
  • Little things count: Be creative and create your own gift (for example you could print out a special picture and decorate a frame)
  • Use the “Gift of Time”: Create certificates for babysitting, cooking dinner, cleaning, etc.
  • Shop at a thrift store (sometimes you can even find brand new items!)
  • Use a Secret Santa exchange and pick a name or two!
  • Check daily deals online through sites like Groupon or LivingSocial
  • Plan a potluck dinner and ask everyone to bring a dish to chip in
For some people, buying gifts for others can really makes us feel good and can get our adrenaline going. However, this feeling can result in overspending and could burn a hole in your pocket and cause you more stress in the upcoming months. Keep in mind that knowing when to STOP buying gifts is a skill of using self-control, good decision-making and tracking your budget. Remember, if you are on a tight budget you can always give a great gift and make someone smile by being creative, without overspending.      
If you are a person with a disability who needs assistance budgeting and managing your money, we have several options for you!
We offer money management workshops as part of our Independent Living Skills curriculum, and we can also work with you 1:1 to help you set and achieve your money management goals. If you are a person who receives Social Security income and have been identified as needing assistance managing your benefits, we also offer Representative Payee Services to help you create a budget and manage your money.
For more information about getting assistance with money management through Independent Living Skills training visit the Independent Living Skills Training page on our website or call 414-291-7520 V/Relay.
For more information about Representative Payee Services, visit the Representative Payee Services page on our website or call 414-226-8169 V/Relay or 414-226-8133 V/Relay.

| Tuesday, 12/4/2018 - 12:32 PM | 0 comments
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