ARIZONA BUSINESS

Valley financial expert offers tips for holiday gift budgeting

Dec 2, 2019, 2:55 PM

(Getty Images Photo/Philip Pacheco)...

(Getty Images Photo/Philip Pacheco)

(Getty Images Photo/Philip Pacheco)

PHOENIX — A Valley financial expert says it’s important to plan ahead for holiday spending to avoid starting the new year with debt.

“This is definitely the time of year when people are spending more than any other time of the year,” Jill Emanuel, financial coach with Fiscal Fitness Phoenix, told KTAR News 92.3 FM on Cyber Monday.

She said the first thing to do is make a list of everyone to shop for and assign a dollar amount to each gift.

Don’t forget about gifts for Secret Santa, teachers and coworkers, as well as money for gift wrap and Christmas cards, she added.

“It helps tremendously to have everything in one place and see the full impact before you go out and start spending money and realize it after you’ve already spent,” Emanuel said.

She said while using credit cards responsibly can be advantageous this time of year for racking up rewards points, it can be a “slippery slope.”

“The caveat to that is that you need to have the money in the bank to be able to pay the credit card off right away,” she said.

If you need some extra cash flow, Emanuel recommended selling unused items on online platforms including Facebook Marketplace, Craigslist and OfferUp.

Also consider forgoing gifts to focus on spending time with loved ones, she said. Options include baking cookies together, watching a holiday movie or going to look at Christmas lights.

“Any number of different things that you can do to just create those special moments rather than spending can definitely lead to a more happy-feeling holiday, rather than coming out of it feeling stressed by overspending that happened,” Emanuel said.

KTAR News 92.3 FM’s Ali Vetnar contributed to this report. 

Array

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona Business

Integrated Biometrics Chandler Arizona 2025...

Serena O'Sullivan

Integrated Biometrics expanding its Chandler research facility

Companies curious about incorporating biometrics into their workflows can now visit a Chandler research facility to test new technologies through interactive exhibits.

2 hours ago

Honeywell Aerospace...

Collin Huguley and Jeff Gifford/Phoenix Business Journal

Phoenix-based Honeywell Aerospace to go its own way amid company split

Phoenix-based Honeywell Aerospace Technologies is going to become a separate entity now that Honeywell International Inc. plans to follow through with a major shake-up.

1 day ago

According to a recent study, film production in the metro Phoenix area generated $29.1 million in e...

David Veenstra

2024 film projects made $29.1M in economic impact on Phoenix area, new report says

According to a recent study, film production in the metro Phoenix area generated $29.1 million in economic impact in 2024.

2 days ago

KORE Power...

Audrey Jensen/Phoenix Business Journal

Behind the deal: What the loss of KORE Power means for Buckeye

Here's what the loss of KORE Power, the Coeur d'Alene, Idaho-based battery cell developer, means for Buckeye.

2 days ago

Super Bowl ad Tempe...

Amy Edelen/Phoenix Business Journal

Tempe solar energy startup to appear in Google AI Super Bowl ad

A Tempe-based solar energy startup is showcasing its technology in a Google Workspace TV commercial that will air during the Super Bowl.

3 days ago

This rendering shows what the Mesa Grandview Business Park will look like upon completion. (Photo v...

Serena O'Sullivan

Construction starts on 270,000-square-foot industrial development in Mesa’s Falcon District

Several companies related to the Mesa Grandview Business Park gathered with city officials for the groundbreaking of the industrial development.

3 days ago

Sponsored Articles

...

Fiesta Bowl Foundation

Join us for the 52nd annual Vrbo Fiesta Bowl Parade

The 52nd annual Vrbo Fiesta Bowl Parade presented by Lerner & Rowe returns on Saturday, December 28, at 10 a.m.

...

Bright Wealth Management

How to save money on retirement planning following 2024 election

PHOENIX -- With the 2024 election over, economic changes could impact how people plan for retirement as 2025 is on the horizon.

...

Schwartz Laser Eye Center

Don’t miss the action with this game-changing procedure

PHOENIX -- The clear lens exchange procedure has emerged as a popular alternative to LASIK eye surgery.

Valley financial expert offers tips for holiday gift budgeting