It’s Taxing, Too

In this 7th blog post, the team at FUTURES is sharing 7 Ideas to help you navigate the volume of those end-of-year charity requests for donations that come your way at this time of year. You work hard to earn your money and strive to use it wisely all year long. Deciding if you want to donate, how you might donate, and how you might plan your donation strategy are important aspects of your personal financial model. In this FUTURES blog post, we’ll explore 7 ideas you might want to consider for your end-of-year giving strategy. If you’ve already made your 2019 donation decisions, check out these ideas to incorporate them into your 2020 giving plan. It’s never too soon to start wisely.

Answering End-of-Year Asks

With the end of the year just a few days away, there’s a good chance that you’re noticing an increase of solicitations in your snail mailbox as well as your inbox. These ballooning requests for annual giving campaigns and other holiday charity drives are typical at this time of year. There are several reasons for this last-season ask.

• First, many people elect to hold off on their gifting decisions until the end of the year. If bonuses or other cash inflows spark the chance to give more, waiting is a good idea. Charities know this and time requests accordingly.

• Other individuals elect to collect asks and requests all year long and wait until the end of the year to consider all asks at one time. This approach can help weigh and compare all giving options and can help those who want to make donations to make choices of charity and causes that align to their life priorities. Finally, other people wait until year end for tax purposes, hoping to increase the amount of money they can deduct from their taxes. Many people assess their year as a whole and opt to donate to yield a deduction that does some good.

Choose Wisely

Regardless of the reasons, waiting until the end of the year to make charitable donation decisions often means those decisions become last-minute ones, done just before the new calendar year begins. It’s a busy time and often folks find themselves giving to the charities at the top of their inbox or bill pile. It pays to take the time to choose wisely—for the charities and for your own bigger future.

FUTURES Planning Tips

In addition to the ideas in this post, check out the actual FUTURES program as you wrap up your 2019 financial situation and begin to consider your plan for 2020. While designed for students, the powerful and informative content of the 29 learning sections or modules in FUTURES is rich and valuable for anyone.

FUTURES: Financially Literate Kids for a Financially Literate Society™ can help you maximize your year-end giving and more confidently make an impact on the organizations that mean the most to you. Full of great ideas about personal finance, economics, entrepreneurship, and investing, FUTURES: Financially Literate Kids for a Financially Literate Society™ is FREE, and that’s a plus to any budget!

IDEA 1: Fewer is Greater

As you consider the many options you likely have for annual campaigns, annual appeals, fundraising requests, and other charitable donations, start first by reflecting on what matters most to you and your family. Giving plans that are targeted and focus on the types of organizations that matter to you are often the most meaningful for both the charity recipients and you! You might feel pressure to give at least some small amount to every organization that asks for a donation. Why not consider a more focused approach instead?

Instead of giving a small donation to many different charities, how much of a difference might your gift make to one or two organizations that truly make a difference to you?

If you have allocated $300 as the amount of money you want to donate at the end of the year, you could share that money in many different ways.  You could make—

• 60 donations at $5 each.

• 30 donations at $10 each.

• 12 donations at $25 each.

• 6 donations at $50 each.

• 3 donations at $100 each.

• 2 donations at $150 each.

• Or, you could potentially make one single donation at $300.

How will it work best for YOU to slice your donation pie?

IDEA 2: A Little Bit of Planning Goes A Very Long Way

The end of the year can be an optimal time for many people to donate and most charities do make their biggest pushes when everyone is in the holiday spirit. By staying ahead of the curve and planning ahead, you can save a lot of time, stretch your donation dollars further, and increase the value of your gifts to both the organizations and your family. Planning your annual donation strategy is really no different than planning your monthly budgets, shopping budgets, or establishing a separate account for bigger spending demands like continuing education for your kids. They all require these four Cs: choices, consideration, care, and commitment.

Next year, instead of waiting until the last days of the year, begin to design your giving strategy at the start of the year. Make your plan easy enough to maintain it all year long.

• Create a folder on your desktop or dedicate a physical basket for Donation Requests in your home bill-paying space.

• Collect the various charity requests that resonate with you. Perhaps it is a favorite animal shelter, a medical facility that took great care of a family member, a religious organization that means a lot to you all year long, or even the local community center. Collect reminders for all of these.

• If a particular appeal or cause touches your heartstrings, make a note of this.

• Resist the urge to make a gift before you do your annual giving review.

• You might ask the charities that tempt you to want to give in the moment instead of waiting to reach back out to you in mid-November.

• This request lets the charity know of your interest and it triggers them to schedule their next asks. It also reduces the amount of mail you are likely to receive in the interim.

• It could even start a dialog that might inspire you to engage more directly with the charity in other ways, like volunteering or attending a few of their events during the year.

• While planning to make donations at the end of the calendar year works for many individuals, the realities of life can also impact your donation budget. So, you might want to budget for some incidental donations along the way.

• Think about those wrapping paper sales, bake sales, cookie and candy bar sales, and other spur-of-the-moment requests that come up during the calendar year. If your nephew is running in a charity 5K or your daughter’s band needs to raise money for new uniforms, these asks can impact your end-of-year donation budget.

• If you budget for these ongoing requests in your monthly plan, then these interim asks will not derail your overall giving strategy.

IDEA 3: Diligence Can Mean Deductions

Be sure to keep track of the donations you make. Ask for receipts. If you do end up donating to a cause or donate money at an event using cash or credit card, ask for a receipt. Most events, even simple bake sales, use payment apps on a mobile phone or tablet and can easily email a receipt. The same holds true for in-kind donation you might make like donating the furniture your uncle left to you or toys and clothing you no longer need.

The IRS requires you to produce a receipt for any donation of over $250 to acknowledge the gift and spell out whether the charity gave the donor anything in exchange for the donation—and if so, a good faith estimate of its value. For more information, go to irs.gov.

IDEA 4: Give to The Real Deal

While there are many different causes that may appeal to your charitable giving strategy, be sure to confirm the legitimacy of the charity. If you are hoping to deduct what you donate, you must take the time to confirm the cause is an eligible charity. The IRS provides lots of information about how to confirm a group’s 501c3 status to help you determine if the organization is a public charity or private foundation.

Churches, synagogues, temples, mosques and government agencies are eligible to receive deductible donations, even if they are not listed, provided they are following the rules as defined by the IRS. If you are hoping to receive a tax deduction for your donation, you will need to itemize your taxes. Do your homework before assuming you will receive a deduction for any sizable donation like a car, property, or furnishing. Many such categories have specified caps on what can be deducted.

IDEA 5: Timing Matters

Remember that timing matters when considering your donations and possible deductions. Even if you make a donation to a charity by using your credit card, the donation is considered to have been made in the year that you charged it, not the year when you ultimately pay the actual credit card invoice. This can become extremely relevant to end-of-year giving plans. In addition, tax laws often change, so be sure to double-check and confirm your giving strategy when it comes to receiving potential tax benefits.

IDEA 6: Cash, Check, Credit, and Beyond

While many people make donations using cash, writing checks, or pledging donations with their credit cards, it might be valuable for you to consider other ways that your long-term financial strategies can come into play. 401K plans, IRAs, insurance policies, stocks, and long-term appreciated securities can also be valuable giving options.

IDEA 7: Stock Up on Learning

Check out the Personal Finance strand of FUTURES for lots of information on how your investments might play a key role in your charitable strategy. Remember those STOCKing Stuffer stock certificate ideas from an earlier post? Just think of how you might be able to leverage such investments in your future if only you begin to discover more now.

Be on the lookout for our next posts in the coming weeks. We’ll lead off the year with ideas to help you establish smart and sustainable New Year’s resolutions that can add value to you, your family, your budget, and your overall financial literacy all year long. Until then, the FUTURES team wishes you and your family a healthy, happy, and safe big FUTURE!

Giving That Gets—With Kids!

With the holidays comes a huge helping of pre-Winter Break pressures as school quickly winds down, followed by lots and lots of family time. For teachers, spending time with your own kids can be a big transition from teaching those in your change at school. For families, the typical busy morning and afterschool departures and returns are suddenly replaced by a seemingly instant 24-7 holiday schedule.

Being with family and friends is part of what makes the holiday season so special. However, fast transitions and too many to-do lists often add to the stresses of the season. They can also take a further toll on even the best-planned budgets and spending strategies. So, the team at FUTURES is sharing some ready-to-use ideas in today’s blog post that reflect the creativity in the FUTURES Financial Literacy Program.  Full of great ideas about personal finance, economics, entrepreneurship, and investing, FUTURES: Financially Literate Kids for a Financially Literate Society™ is FREE, and that’s a plus to any budget!

Plan for Progress

It takes a lot of time and effort to shop smart, cook well, and donate generously before the season’s festivities begin. As to-do lists grow the time left dwindles, so this blog post focuses on enlisting the help and support of even your youngest charges. By applying a few inventive ideas, not only might you save some time and money, you might also increase awareness and maybe even invent a new family tradition or two!  

You might just discover some eager and energetic helpers right under your nose—literally. Set yourself and your family up for success by thinking ahead and considering a few of these suggestions so when it’s time to engage and work together on some of your pressing holiday activities, you’re ready!

Fabulous Family Helpers

Foster excitement and enthusiasm by asking your kids to help you this holiday season with quick, simple responsibilities that help keep you on track and also help your kids form some super executive functioning habits along the way. In addition to specifically asking kids to jump in, you can also challenge your kids to think of even more ways to help you, and by extension, how they can help others. When you ask even a simple question, you can spark a whole conversation that could enhance their perspective and share some undetectable vacation-time learning with your kids.

The Inline Wrapping Game!

After you’ve assessed what’s left to wrap, invite your kids to play this game. Kick off your idea casually. “So, how do you guys think we can get all of these gifts wrapped in time for the party at Aunt Sarah’s? I was thinking we could do an assembly line! Have you ever been part of one? It’s fun! First, let’s set up our assembly line by getting all of our supplies and deciding who will do what parts.”

• Divide up the tasks based on age and skill.

• Little fingers are often better at peeling off the backing on those stick-on bows than anyone else! Besides, what fun for them to put on the finishing touch.

• To avoid waste and confusion, match each gift and box size and pre-stage those ahead of time.

• Assign each individual family member a specific task. Tasks might include making boxes, adding tissue, having tape pieces ready, measuring paper, and peeling off price tags, making gift tags, and even recycling.

• Once this is done and your line is formed, your team can be ready for action.

• Choose an economical paper instead of expensive wrapping paper.

• You can even remind kids that they can even piece together wrapping or construction paper scraps to make a fun design.

• Supermarket paper bags turned inside out makes a great drawing surfaces so pull out the crayons and markers to have everyone sign and decorate the gifts.

• As you are working together, you can talk about famous assembly lines and discuss that even cars are made on assembly lines.

• You might even suggest that some local fast food spots prepare food in that manner.

• Invite your kids to think of other familiar assembly line ideas.

• And remember, cleaning up a part of the assembly line process!

• Don’t forget to take a few pictures.

Super Saver Shoppers

There are lots of money-saving and time-saving tasks you can invite your kids to do with you. Some will even give them a bit more math and literacy practice.

• Ask kids to scour newspapers and online ads for sales on food, supplies, or other household items you might need. Savings math is great practice. “How much are we saving with that brand?”

• Making a shopping list while you dictate is a great chance to practice brave spelling. It also makes a wonderful keepsake.

• If you’re out shopping, ask them to keep an eye out for any sales or specials.

• Discuss price comparisons for some fast subtraction practice.

• Remember, kids are amazing helpers in self-checkout lines, too. This could be another way to reinforce an assembly line. One child can hand the items to you, another can place them in bags, etc.

Charitable Chefs

Extra family time can present some fun opportunities to create together in the kitchen—for good. Cookie baking can be great math and measuring practice, not to mention a fine artistic outlet when it comes to the decorations. It can also become a special way to introduce charitable giving at your family gatherings.  

• In the kitchen, incorporate your kids into your meal-making process, encouraging them to look out for what you might need next. This is powerful sequencing practice.

• Recipe reading is great literacy practice.

• Measuring cups mean math in action.

• For older kids, you might use this together time to talk about how much it actually costs to make those cookies.

• Why not even inspire budding entrepreneurs? Just because it’s wintertime, entrepreneurship can still play a part at your family events. Transform the summer lemonade stand idea into a quick hot-chocolate shop at a family holiday party.

• You might let your younger kids set up a small table with their well-decorated baked goods for an impromptu family bake sale—with a built-in set of invited customers!

• Once kids do their hot chocolate and cookie math, they can donate their proceeds.

• Before the event, be sure kids research their charity of choice.

• You might even quietly encourage a relative to offer up a matching plan: for every dollar your kids raise, perhaps a familial benefactor will provide a matching gift.

• Why not encourage this kind of matching plan by offering up a special prize for any matching gifts like extra marshmallows?

Even Bigger Giving from Littler Givers

One of the more difficult lessons to impart to kids is key to what the season is about: giving. While children might be used to getting presents from family, friends, or even Santa, it can be more difficult for them to understand that others are not as fortunate. Begin conversations this season to explain that giving can mean a great deal to others.

The holidays are the perfect time to invite your kids to share some of their gently-used extra toys, books, and clothing. Together, choose a local charity or community center. Make it a special activity to collect, fold, and prepare items. Then, together you can donate them to those who need them. Giving and sharing items that are familiar can more effectively underscore the act of giving. Shopping for toy drives, working in soup kitchens, and visiting senior centers, and volunteering are all ideas that help to grow the awareness of the power of giving in your kids.

The Gratitude Attitude—With Our Compliments!

Finally, remember that giving does not need to be about shopping and spending money. Instead, for both kids and adults, giving is also about giving of one’s time and sharing special sentiments. One gift that costs nothing? Give a Compliment! Take time this season to write even a short thank-you note to let those you see and work with all year long know that their efforts matter and were noticed.

Fold some plain paper into a notecard by folding it twice. Write tour note on the inside and then invite your kids to draw on the outside of the cards or otherwise decorate them with handy craft supplies. 

We hope you enjoy a happy and healthy holiday season. We’ll be back with some savvy end-of-year charitable giving ideas in our next post before the new year. Until then, think about your bigger FUTURE and explore FUTURES: Financially Literate Kids for a Financially Literate Society.

T’is the Season for Social Responsibility

As we embrace this season of giving, it’s a powerful time of year to explore three other extremely powerful Ps—people, planet, and profits. We don’t mean that all of the people on the planet are shopping and all the businesses are making profits because of it. No, this connection between people, planet, and profit is deeper and lasts all year long, every year. This season is about giving to others, helping others, and sharing the joys of who we are and what we have with those who may benefit. Building upon this spirit of giving makes this a perfect time to instill in others the need for social responsibility that lasts all year long.

Powerful Questions

Think about these questions as you and your kids get ready for winter break. These topics and ideas can spark lots of adventures over the break from school.

• What responsibilities do people have toward one another—and toward the planet?

• Does this responsibility change when people are part of a corporation?

• What does it mean to be socially responsible, and why is this important?

• How can a for-profit company demonstrate social responsibility?

• How does all of this fit into the holiday season?

A FUTURE Opportunity to Learn More

These are just some of the types of questions kids will explore through a fun and focused activity from the FUTURES: Financially Literate Kids for a Financially Literate Society™ program, designed to help kids in grades K through 8 today to understand the importance of financial literacy to contribute as engaged and informed citizens in the future. Tomorrow’s leaders can even help to shape our society today.

The following background and entrepreneurial activity work together to expose kids to the big concepts that relate to social responsibility. Why not try it over winter break or as soon as school is back in session?

But Corporations Aren’t People, Are They?

First, set the stage for the activity by asking kids to take a stab at defining social responsibility. Explain that it means that, as members of a society, people are responsible for the welfare of all citizens and we are also responsible for the health of the planet. When we apply this concept to business, it means much the same thing: corporations can and should find a balance between economic growth, or profit seeking, and responsibility to society and the environment.

This idea might sound very serious or hard to understand for younger students, but, when you connect it to what we expect the students in our classrooms and members of our families to do, there are many familiar undertones that helps to make this concept more relatable, even to younger learners.

Social responsibility for corporations is about acting responsibly and making business decisions that don’t hurt people, animals, or the environment while still bringing in profits. Social responsibility for corporations doesn’t stop once the profits come in—in fact, that’s when it should really kick into high gear! The social responsibility work of the corporation needs to keep going—and growing. Socially responsible companies and their leaders and entrepreneurs understand that it is through these profits that even more benefits can be realized. Profits can actually help corporations contribute more with, for, and to society by giving back, making differences, and adding value.

The 3 Ps

Socially responsible corporations focus on three Ps—people, planet, and profits. You and your kids can, too. When a company takes care if its employees, community, and customers, it is focusing on people. When a family takes care of its kids, pets, yard, and neighbors, this is the same thing. Introduce this concept to your kids, next.

A company takes care of the planet by being sensitive to how it manages its waste, air pollution, and safety practices. A class or family can do the same thing by not using plastic water bottles, for example. Recycling is another way every class and family can help.

When a company conducts business in ways that take care of people and the planet and also makes a business profit, the company is on its way to being a socially responsible company. When that company re-invests some of its business profit to help make the world a better place, the company is contributing as a socially responsible company in all 3 ways—people, planet, and profits.

Once kids understand a little more about corporate responsibility, they’ll be ready to put these ideas into action through a creative business scenario in the following activity. It’s time to create a corporate responsibility strategy focused on the three Ps: people, planet and profit.

If the Shoe Fits…

Imagine you’re the CEO of a new clothing and shoe company.

Your task is to create a proposal for your employees and board members to vote on that demonstrates the three Ps—people, planet and profits. With your family or classroom, discuss the pros and cons of each proposal and then have everyone vote on the best proposal. The proposal should address these points:

• What makes the winning proposal stand out?

• How does it successfully balance each of the three aspects of corporate responsibility?

• Can you envision an even better proposal with the best single idea from each “P” category (people, planet or profit)?

The 3 Ps at Holiday Time

Socially responsible corporations focus on three Ps—people, planet, and profits. Try these ideas to help engage your kids in the people, planet, and profits ideas.

Help Other People

Suggest one PAY IT FORWARD activity during the holidays. Perhaps you might buy toys for children, visit a local hospital, or serve food in a local shelter or community center. A quick visit to a senior center could be the highpoint of the season for many. Invite your kids to sing a few songs. It’s not the melody that matters—it’s the memories they’ll create and shape for both the singers and the listeners. If permitted, perhaps you might want to also share a quick video to inspire others to do the same.

Whatever you choose, be sure your kids are involved. Answer their questions and discuss the different ways that their efforts make a difference to others.

Gift the Planet

This holiday season, why not use only recycled wrapping paper or bows? Better yet, why not use gifts to wrap gifts? A T-shirt can be a fun wrapping for a book. Save on bows by using candy or markers to decorate boxes. Pick up a few of those inexpensive recycled shopping totes to use as gifts that can hold lots of other gifts. And remember, ‘tis the season to recycle. Reuses old boxes, wrap items in tissue only, and get creative about ways to save trees as well as money this holiday

Think about a longer-term way to gift health to the planet by considering a gift that helps like a composter, real glassware instead of disposables, or the fun gift of a reusable straw. Talk about a perfect stocking stuffer.

Profit from the Profit

As you are making your online gift selections this holiday season, take the extra minute to check out what the company says about its socially responsible activities. Why not choose to add to the profits of a company that is socially responsible to help ensure that your dollars go further and that buying a great gift also does good for others.

Spend Time AND Money

Take a few fun field trips over winter break. Many recycling facilities offer tours and kids love this adventure and it heightens everyone’s awareness. Don’t be surprised when your kids begin to remind you about taking even small steps to save the planet. Encourage your kids to become Planet Advocates. This is another great winter break activity. Help your kids research facts about how everyone can act small to save big!

Holiday Break Ideas

If watching a team make order from trash is not on your list of holiday things to try, why not try these ideas to help kids recognize that understanding a corporation’s choices can and should inform the purchasing choices your class, team, or family makes.

• Pop over to the local science center to explore some exhibits about our planet.

• Swing by the library to research a few topics.

• Check out some movies about our planet. National Geographic has some amazing ones.

• Do some sleuthing on your own to scope out those companies that truly are engaged in socially responsible activities.

What the FUTURE Holds

No matter how you opt to spend your time over the holidays, it’s likely you’ll come into contact with many corporations. See if you can spot the ones who take their social responsibility seriously. It just might influence your purchasing decisions going forward.

In a few days, we’ll be back with our next FUTURES blog post called Kid Patrols! By putting your kids in charge of these few, fun holiday habits, you’ll all quickly discover how these ideas can visibly save your family some money, build some festive holiday community energy, and echo the essence of the season through saving, giving, and donating.

Until then, we also hope you enjoy the other 3 Ps of this season—patience, prosperity, and of course, PEACE.

Hidden Holiday Budget Breakers: Where Did All That Money Go?!

While it can be challenging to set and stick to a budget for holiday gift shopping, that facet of the holiday budgeting is actually one of the easiest to estimate and track. While you may ideally want to splurge on a fantastic new bike for your child, there are many other options that will delight your child and help you stick to your overall gift-giving budget. We may not like the other options as well, but we do have choices that are easy to see and consider.

 When it comes to other aspects of this holiday season, there are many expenditures that sneak up on your bank account. The focus of this blog post from the team at FUTURES is to shed some light on seven big holiday budget drainers. From events to logistics, it can all add up to ultimately big subtractions from your already-strained December monthly budget.

Want to boost your own financial literacy this holiday season? Check out the one financial literacy program that is ALWAYS FREE—FUTURES: Financially Literate Kids for a Financially Literate Society.™ This amazing free program covers the key financial literacy topics of Personal Finance, Economics, Entrepreneurship, and of course, Investing, and could be a big help in managing your holiday budget surprises. 

 These invisible demands are easier than ever to miss these days. With the ability to quickly insert a credit card or hold your phone over the checkout kiosk, it’s easy to lose sight of the many out of-pocket expenses that happen over the holidays. The following Seven Surprise Costs can sneak right up on your budget if you aren’t mindful, so let’s explore each one. Check the Try This! alternate ideas for each, too.

1: That FREE Event is Far from Free

• There’s a free concert at the park.

• Ice skating is free on Tuesdays from 4 until 6.

• The mall is offering a free chance for your kids to sit on Santa’s knee.

• The local paper has a map showing six different free tree-lighting events this weekend.

• Your office group isn’t going out for drinks this year; to save money, everyone’s baking cookies and you’ll celebrate in the break room. 

It’s great to take advantage of these festive holiday happenings to get in the spirit of the season. While each of these events is technically FREE, check out these potential hidden expenses.

 Free Concert at the Park: The concert is free, but the hot chocolate for all six of you isn’t. At $3.00 a cup plus a little something to put in the vendor’s tip cup you’re down a $20-bill and the singing hasn’t even begun.

Try This: Plan head and pack a thermos and some paper cups. Host your own little hot chocolate picnic while you wait for the concert to begin.

Free Skate on Tuesdays from 4 until 6: Free Skate is great and you don’t need to pay to be on the ice, but the skate rental fee is still $6.00 per child and how can you not buy your thirsty kids a bottle of water? On the way home, you realize it is far too late to begin to cook dinner, and even with that coupon, the pizza set you back another $10.

Try This: Call ahead to confirm the price of skates. See if you can borrow some. Free Skate Night is a great night to pop some taco fixings in the crock pot to be sure there’s a warm and economical dinner waiting for your hungry little skaters when you get home. 

Santa’s Knee is Free: While Santa’s knee may be free, the photo isn’t. It’s a lot of pressure to choose the smallest photo package or to resist that fancy frame Grandma would love. Even a free visit with Santa and a quick photo on your cell phone can be costly if you yield to the temptation to see your child’s sweet face on a mug. 

Try This: If a visit to Santa is super important, try going early to avoid the lines. This can help you get in and out more quickly, making temptations easier to avoid. Consider that coffee mug; what matters is your child’s sweet face, not Santa’s. Why not wait until after the holidays to order a personalized coffee cup on sale?

 Not-so Free Tree Lighting: Free tree-lighting isn’t free when there’s a fee to get you there. The events are free, but transportation for such adventures can be pricey. Even buses and commuter trains can be expensive. Depending upon where the events are located and how familiar you are with the areas, you might end up making less economical choices than you might in your own more familiar neighborhood.

Try This: Scope out the neighborhood and know the public transportation schedules, keeping in mind that holiday schedules can be different. Also, check out your preferred transportation methods. Some trains offer free transportation at certain hours and on holiday weekends. You might also invite another family, carpool, and share the price of parking. That thermos and those pre-packed snacks from home can do wonders for keeping your holiday budget intact.

 Costly Cookies: Cookies in the break room cost money, too. While you’re not spending on drinks for yourself and/or colleagues, making cookies can still be pricey. The ingredients and the time can add up. If you opt to make a fragile creation, you might further decide that the less-expensive train is out that day and decide instead to drive and instead to protect and transport your culinary creations. When you add in the $25/day for parking near your office to your ingredients list, those are some very expensive cookies.

Try This: Keep in mind that everyone will be bringing treats and even your hungry colleagues can only consume so much. Instead of giving up one night to bake and another to decorate, why not budget your time and finances differently? Research a bakery near the office. Request that they whip up a dozen fun or fancy cupcakes that you can swing by and pick up just as you head into the office on cookie day. These cupcakes are sure to cost less money, they’ll look wonderful, and you can still hop on the train to get to the office. You just might be the hit of the celebration with those sea-salt caramel cupcakes you only had to buy and pay for! Worried about showing up with only a dozen? Think quality, not quantity. Cupcakes are easy to share, too. Why not cut a few in half as you unbox your contributions. Besides, store-bought or home-made, cupcakes are never calorie-free and this approach lets everyone savor a taste!

2: Park the Hurried Angels Pay

Parking at malls may be free, but those dings to your bumper are anything but. In a hurry? Stayed too long at the store and got a ticket? Forget your commuter pass and had to pay extra? Even public transportation costs add up. When you consider the hidden costs of a few phone clicks away from a private car service like Uber or Lyft, the dents in your budget start to grow even bigger.

Try This: Add a “commuting” allowance to your budget to avoid these surprises. Keep an extra few dollars tucked away for quick transportation emergencies. Since it’s often easier to drive to do your shopping, why not plan to shop with a friend, share the cost of gas, and alternate to lighten the transportation burden on each of you. Lastly, try ordering online to save yourself all this extra expense. Just be sure to confirm the shipping terms and return policy to avoid surprises later.

3: Did You Want Fries with That Gift?

Shopper’s Paradise is often an elusive feeling during the holidays. It’s easy to find yourself momentarily delighted with that clearance coat for Uncle Max that is exactly his size. Two minutes later, you’re at the end of a very long line. When it’s finally your turn, they’re out of register tape, they’re out of boxes, and your coupon is expired! As your head starts to swirl, you remember you forgot to eat lunch. While the coat was budgeted on your gift-giving list, the fast-food snack you were too hungry to resist wasn’t.

Try This: Remember to stock your pockets with quick, nourishing snacks. Keep coupons on your phone, and save boxes in the back of the closet so you won’t need to stand in a second line or dash out to buy a box right before you see Uncle Max!

4: It’s a Wrap

While we painstakingly budget for the gifts we need to purchase for others, it’s easy to overlook the trimming for these gifts. The price of wrapping paper, ribbons, bows, tape, and tissue can swiftly swell to a very real number. On top of that, if gifts must be mailed, postage is often a further surprise to your budget.

Try This: At the end of this holiday season, why not stock up and stash away  some much-discounted wrapping paper and other clearance-priced supplies for next season?  As for postage, if you can order and ship directly from an online store, you might come out ahead, especially if stores are offering free shipping at the holidays. Many online stores also permit a free gift message, even if wrapping is extra.

 5: Table for Six

Actual celebration days can be full of both stress and hidden costs. While it is difficult for some to avoid the stresses that can come with extended family visits and celebrations at the holidays, the hidden costs related to hosting major family meals is often a surprise to your budget’s bottom line. Even when everyone brings a covered dish, there are extra hidden costs associated with having the event in your home. From extra household supplies to more food and drinks than usual, entertaining costs add up. If it’s your turn to host this holiday season, be sure to include the foods, supplies, and any clean-up costs on your holiday planning budget. If the celebration is at another family member’s home this season, you still need to budget for gasoline or other travel expenses, the cost of ingredients in your covered dish or dessert, and even the cost of an oversized heavy-duty foil pan.

Try This: Come up with a crafty, inexpensive way to decorate the table. If you’re planning on place cards, opt for something simple and inexpensive like writing names on hand-cut paper snowflakes. If you need to prepare the main course, shop ahead and look for sales. When others ask what they can bring, suggest that in addition to their food contributions, everyone bring some soft drinks, someone else bring a big bag of ice, and another guest brings some disposable paper goods. This approach helps better distribute the hidden costs of hosting an event in your home. And of course, when it’s time to clean up and your guests offer to help, say yes!

6: Many Unhappy Returns

Did you ever forgot you bought a gift only to discover after the holidays, hidden in the back of the closet? What about that extra-small reindeer sweater your great aunt thought would surely fit you? While her sense of your size might be flattering, a store credit or the chance to exchange this for something you’ll truly wear, is likely more appealing. If the gift you wish to return was purchased online, be mindful of their return shipping policies. It could cost you more to return that reindeer sweater than you realize. While stores are often generous with return and exchange windows at the holidays, many policies have hidden costs like shipping fees, restocking fees, and a no refund policy.

Try This: When it comes to making returns, stay organized and be prompt. Keep gift receipts with the items and head off to make your returns as soon as possible. The sooner you return or exchange your purchases and gifts, the more accommodating stores are likely to be. If you can only return for an in-store credit, keep track of this found money, note the credit’s expiration date, and tuck these credits in a safe place. If you find yourself stranded in a long return line, try to be understanding. Kindness goes a long way. Before heading into the return line, check through the store to find another of the item you wish to return or exchange. This makes it easy for the cashier to make your return. Your thoughtfulness might just gain you a full refund.

 7: Getting Carded!

Last but not least, a major holiday expense that it’s easy to overlook is the cost of creating or choosing, printing or buying, and mailing a long list of holiday greeting cards. Custom-designed family photo holiday cards, for example, may be a tradition or seen as expected in your family, but these photo-and-foil style holiday greeting cards can be very expensive. Stop to consider not only the cost of the card itself, but also the price to include extra envelopes, mailing and return labels, and of course, the postage. These cards are often oversized, hiking up the postage costs even more.

Try This: Instead of opting for a fancy photo holiday greeting card this year, why not consider approaching this tradition differently? What if you crafted a lovely email and attached a family photo, taking the time to personally connect individually with recipients, asking how their family is faring this year, and perhaps even begin a true exchange? You might also be on the lookout for seasonal specials on blank cards, stock up on a few different designs, and then tuck in a home-printed photo of the kids. Lastly, consider sending e-cards this year. There are lots of fun and animated greetings that are sure to delight recipients, without straining your wallet.

FUTURES™ is Always FREE!

As you work to tackle your hidden holiday expenses, remember to check out the one financial literacy program that truly is 100% FREE—every day! FUTURES: Financially Literate Kids for a Financially Literate Society™ is the FREE, groundbreaking Financial Literacy Program that has 29 different sections across four instructional strands: Personal Finance, Economics, Entrepreneurship, and of course, Investing. Each section begins with a detailed ready-to-use planning guide and is brimming with handouts and resources—including worksheets, charts, and other handy tools. Who knows? There might be someone on your list who would love to receive this program as a gift!

Early next week, look for Post 4, where we will share with you how to Give a Gift for the Future: Stock up on Learning during this holiday season. Until then, when it comes to hidden costs, keep your eyes open and your wallet closed!

Winning Game Plans Save Money!

This time of year can be full of joy, celebration, and festivities. For many, it can also be a time of worry, anxiety, and overspending—but, it doesn’t have to be! Check out these ten family-focused ideas for ways to start smart and save some money during this holiday season. Even if you can only try one or two of these ideas, you might become inspired to come up with a few more that work for your family!

1: Cash Counts!

Credit cards are often tempting when it’s time to shop during gift-giving season. The convenience of these cards can often backfire when the bills are due. This first strategy can help—a lot. Once you create a budget for your shopping plans, why not consider paying with cash? After all, with this approach, you can only spend what’s actually in your pocket. As with all forms of cash and credit, exercise care when carrying around a lot of cards or cash because safety should always be the first order of business.

2: Hold the Latte

Shopping, holiday errands, and too many events can mean a lot of running; this can lead to a skipped meal or two. It might also make the luxury of indulging in a supersized, foamy peppermint latte and a warm gingerbread cookie seem like necessities for survival. With lines, traffic, and too much to do, this feeling’s no surprise. It’s also no bargain. This tip can help.

By skipping these higher priced and higher calorie snacks on the go, it’s possible to save enough money to buy an extra gift or two! The price of such snacks can tip the scales at $8 to $10 dollars. Switching to a simple drip coffee and a granola bar from your backpack even just twice a week between now and Christmas, could result in an extra $50 to spend on gifts. Now, THAT’s a very sweet treat!

3: Quality, Not Quantity

These days, gift giving might more accurately be described as GIFTS-giving. In today’s high volume-based world, multiple gifts per person can be an expected norm. Instead of buying several smaller gifts per person, reverse it. Truly listening for hints about one special gift that might be at the TOP of your recipients’ wish lists. By thoughtfully considering, researching, and shopping for that nicely made red sweater for your aunt, for example, you can potentially invest the same money and give one longer lasting gift that she will wear and enjoy for years to come. Three smaller gifts at $15 each might not mean nearly so much as one beautiful $45 sweater.

4: Dollar Store Delights

Not all gifts need to be store bought or expensive. What gifts could you and your family create together? Could you bake and decorate cookies and then line a round foil pie pan with a home-made holiday construction paper snowflake? Top this treat with a festive, inexpensive dish towel from the local dollar store, and all that’s left to add is a card. The dollar store is a treasure trove for lots of economical gift-making supplies. Pick up a few plain ceramic coffee cups, write recipients’ name or initials in permanent marker, and tuck in some tea bags or candy. Why not buy plain ornaments at the dollar store and spend some family time decorating them with glue, odd buttons, dots of nail polish, and ribbon or yarn scraps? By making the decoration styles random, even kids will relax and discover there’s no wrong way to decorate a keepsake ornament.

5: The Gift of Time
Remembering that time can be more valuable than money is a great gift-giving strategy to add to your planning. What about creating some simple IOUs for friends and family? Volunteer to babysit, walk a friend’s dog, or bring in the trash cans for a busy neighbor during the winter months. CARPOOL or ERRANDS Certificates with no expiration dates could be a life-saver to a friend. The financial cost of these gifts is low, but the consideration and value to those who receive them can be high, if not priceless.

6: Trade-Ya!
Along the same lines as the IOU and homemade customized gift certificates described in idea 4, suggest to friends and family that you dream up a few TRADE-YA ideas. For example, if you can sew, offer to hem three pairs of pants in exchange for two ready-to-freeze casseroles. By choosing to trade activities that come easily to one of you but are a struggle for the other, everyone wins. This money-saving idea has an added bonus: TRADE-YA gifts set a wonderful example for kids. Beyond modeling that not all gifts are tangible, you can work together as a family to bring these special gestures to life for family and friends. Everyone can contribute. If you take a photo while you’re working together, you can give an inexpensive keepsake, too! Making memories is a great trade.

7: New Traditions
Sometimes, holiday traditions like pricey tickets for a holiday performance or feeling pressured to buy the expensive photo package of your kids on Santa’s lap can feel like mandatory expenditures. Why not choose more carefully this year, perhaps opting for only one tradition that costs money and introducing some new traditions that are low-cost or even free.

Pop over to the library or scope out a free, public-domain version of  holiday story on your phone to create your own home performance by reading or even acting out a new favorite holiday tale. Each child can play a part, too. Don’t forget to take a photo or two! Look for tree-lighting neighborhood events, community center festivities, or invent new family traditions like taking a walk to see the holiday lights or inventing festive names for economical dinner ideas. You and your family will treasure these new activities especially if you come up with them together.

 8: Location, Location, Location
While after the holidays is the perfect time to stock up on clearance decorations for next year, this year’s budget can quickly become strained with last-minute shopping for new decorations. If you pull out the box of old decorations only to discover that it’s less plentiful than you remembered, don’t despair—and don’t go shopping. Try switching up what you have saved from past seasons. Change a ribbon color, put those tattered pinecones in a different basket or flower vase with some crinkled tissue for color. Most of all, swap locations. By placing old decorations in new places, they’ll look new to guests, to your family—and to you!  

9: Keep It Together for Happy Returns
Stay organized this season. Don’t tuck receipts and change in coat pockets or shopping bags. Instead, form the habit of putting every receipt in one central and consistent place in a big envelope labeled November and December Receipts. This way, if you discover you need to return a gift you purchased earlier, you can more easily make time to get your money back. In addition to convenience, keeping all receipts in one place lets you make fast tallies of what you’ve spent to date so you’re ready to pay the bills when they come due. Keep loose change in a bowl or cup nearby, too. You might even discover you’ve saved up enough pocket change to treat yourself to that one last peppermint latte before this seasonal treat disappears from the menu board.

10: Become a Sales Sleuth
At this time of year, it seems like every store and website is promoting a BIG sale, but be careful. Sometimes sale prices are not nearly so reduced as claims promise. Making enough time to research and check for best and lowest prices before you make bigger purchases can result in big savings. By comparing prices ahead of time, you are an informed buyer. Not only will recipients value what you buy, you’ll receive a real value, too. Spending more time ahead of time can save your budget big-time, too.

11: Say NO to SnowBILL Fights
After all the gifts are all opened, it’s quickly back to school at the start of the new year. It’s also the start of payback time as the bills come pouring in. Credit card debt is a serious matter and debt and interest payments can add up quickly. Be prepared.

Make your payback plan NOW. By calculating your budget, sticking to it, and planning out beforehand how long it will take you to pay down what you owe, you’ll feel in control and be better able to contain spending. By giving yourself a HARD Shopping Stop Date, you will limit those SnowBILLs—helping to prevent your interest payments from snowballing. Now that’s a great gift to yourself for the start of 2020!

 Get Smart from the Start with FUTURES!

These ten ideas can help you stay on track during the holidays. If you want some more specific, easy-to-grasp-and-apply information about Personal Finance, check out the Personal Finance Strand of FUTURES: Financially Literate Kids for a Financially Literate Society™. This FREE, groundbreaking Financial Literacy Program has 29 different sections across the four strands. Each section begins with a detailed ready-to-use planning guide and is brimming with handouts and resources—including worksheets, charts, and other handy tools. This school program “travels” smoothly outside of classrooms, making it easy to introduce and weave in financial education topics in after school programs, home-school settings, and even around the family dinner table. In the late-night hours, turn worry time into learning time with FUTURES.

Early next week, look for Post 3, Hidden Holiday Budget Breakers, where we bring into clearer focus all of those fuzzy, forgotten holiday costs that can trip up even the most committed holiday budget planners.