Success StoryManaging Holiday Expenses: How to Reduce Spending to Decrease Financial Stress
Managing Holiday Expenses: How to Reduce Spending to Decrease Financial Stress
Author: Jordan Crain
Planning Unit: Barren County CES
Major Program: Financial Education - General
Plan of Work: Unrelated to a specified County Plan of Work
Outcome: Initial Outcome
Holidays are often an exciting time of the year. However, the holidays can also represent added stress due to holiday spending. Many individuals, families and households neglect budgeting for holiday spending. To assist individuals in understanding and responding to financial stress resulting from holiday expenses, the Barren County Extension Office hosted Managing Holiday Expenses: How to Reduce Spending to Decrease Financial Stress financial program. Emphasis was placed on understanding how implementing holiday budgeting and other cost-saving strategies can help individuals to reduce spending and financial stress. 13 consumers participated in the workshop(s). Participants were surveyed following the class and ninety-two percent indicated they had identified money management or cost-saving strategies for their family, while 12 participants, increased their confidence in handling money issues or specific financial matters. 13 participants identified at least one specific saving or wealth-related goal for their family and one hundred percent plan to take action steps toward implementing at least one financial management strategy presented during this program.
Additionally, participants were shown gift ideas and given the opportunity to do a make and take. Cost comparisons were given to show the amount of money that could be saved by doing simple, yet meaningful gifts at home. At the conclusion of the workshop, one participant shared that they would be implementing what they learned all throughout the year, not just during the holiday season.
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