Americans spent more than $1 trillion dollars during the holidays in 2018. That number rose another 4.5% in 2019. While holiday spending was at an all-time high pre-pandemic, many families across Kentucky had less to spend during the 2020 holiday season due to COVID-19 financial challenges. Travel and social relationships also proved difficult as families considered ways to connect with loved ones while adhering to strict social distancing protocol atop increased financial hardships.

Tighter budgets have been further compounded by pandemic-related supply shortages; thus, it has become vital to learn smarter ways to stretch consumer dollars and resources. To raise awareness and help consumers address these needs (i.e., strained resources, finances, and relationships), the University of Kentucky Family and Consumer Sciences Extension Service challenged families to join the USE LESS, SPEND WI$E Challenge November 1-19, 2020. Participants completed experiential activities designed to help them use less, spend wisely, and discover cost-effective, safe ways to connect with others. 

Challenge participants received a list of 24 activities with corresponding educational material from their county Kentucky Cooperative Extension office. The challenges were divided between three categories: USE LESS, SPEND WI$ELY, and PRICELESS. Participants were to complete six or more activities, then submit their results at the official challenge link by 11:59 p.m. EST on Thursday, Nov. 19, 2020 — national Use Less Stuff Day.

Forty-four counties across the state participated in the USE LESS, SPEND WI$E Challenge. 122 consumers filled out the survey documenting participation, indicating that a total of 292 household members participated. 

Of the 122 survey respondents, a total of 920 Challenge activities were reported, with responses representing all 24 activity options. 333 activities were completed from the “USE LESS” category, 284 activities were completed from the “SPEND WI$ELY” category, and 303 activities were completed from the “PRICELESS” category.

Of the respondents, 34 reported keeping a daily spending diary. Also, 27 reported using the Basic Budget Builder worksheet during the challenge, a budgeting resource developed specifically for this initiative. Another 54 respondents identified one or more personal spending leak during the challenge, the most common of which were: shopping and impulse buying (17), eating out/fast food (14), purchasing candy, snacks, or other foods/groceries (14), and buying beverages like coffee and soda (10).

Selected Participant Testimonies:

What did you learn by taking part in the Challenge: What was your biggest takeaway?

“That saving money can be fun! I liked challenging myself and my family to consider ways we could be more mindful of the things we use, the money we spend, and the time we enjoy with one another.”

“Writing everything down really visualizes where my money is going and how I can best manage my money.”

“To keep track of what you spend because unless you do its crazy how much you can waste without realizing it.”

“Just how important it is to be conscientious of our negative spending habits, as well as prioritizing using what we already have available to us.”

“It’s amazing how much money you can waste but just sporadically buying things. Biggest take away was watching the spending leaks.”

Additional Comments:

“Due to the Covid-19, I have been under a lot of stress, worrying about my family.  I have been keeping very busy doing the activities that are specified in this challenge. Thank you for encouraging this challenge.”

“Having grown up with parents who were raised during the depression, ‘reduce, reuse, and recycle’ has been a habit of mine. This challenge made me more aware of areas I have not been as cautious. This was an enjoyable challenge. Thank you!”

“It’s been a crazy year, blessed but crazy. It’s always good to think of my family and our finances. We’re trying to budget and get our savings account up. With this, it gave me tips and ideas on what I can do to help curve spending unnecessarily.”