Holiday Spending Tips

This program will take about 5 minutes to complete.

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Holiday Spending - Question 1 of 5


Financial planners suggest that you spend no more than what percentage of your annual income on holiday spending?

10%

3%

1.5%

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ANSWER: 1.5%


Tips for Keeping Within Your Holiday Budget

  • Plan ahead - Know how much you have to spend on the holidays - including decorations, gifts, cards, postage, etc.

  • Create a plan for how much you will spend on each person

  • Use a holiday budget as a tool to help you prevent overspending

  • Avoid credit use unless you are sure you'll be able to pay the bill in full at the end of the month

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Holiday Spending - Question 2 of 5


What does CNN Money report is the most popular holiday present this season?

iPad

Gift Cards

Xbox 360

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ANSWER: Gift Cards

Tips for Gift Card Use: Know the New Gift Card Rules

From the Federal Trade Commission

  • Money on a gift card cannot expire for at least five years from the date the card was purchased, or from the last date any additional money was loaded onto the card. If the expiration date listed on the card is earlier than these dates, the money can be transferred to a replacement card at no cost.

  • Inactivity fees can be charged only after a card hasn't been used for at least one year, and you can be charged only once per month. But you may be charged a fee to buy the card or to replace a lost or stolen card.

  • The expiration date of a card must be clearly disclosed on the card, and fees must be clearly disclosed on the card or its packaging.


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Holiday Spending - Question 3 of 5


A recent survey commissioned by The Patron Spirits Company found that what percentage of Americans claim they've regifted, or considered regifting, a holiday present?

22%

56%

68%

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ANSWER: 68%

Rules for Regifting from MSN Money.com:

  • Don't mention it!

  • Do update the wrapping

  • Don't regift hand-me-downs

  • Keep track of who gave you the gift

  • Don't regift partially used gift cards

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Holiday Spending - Question 4 of 5


Patron's holiday gift-giving survey also asked people what they believe is the most common reason for a person to give a bad gift (those that might end up in the regifting pile). What was the number #1 answer?

Lack of creativity

Lack of money

Procrastination

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ANSWER: Lack of creativity

The majority of respondents cited "lack of creativity" as the key reason for giving poor gifts, followed by "procrastination."

Lack of money was not a reason for a "bad" gift. There are plenty of ideas for budget-friendly, homemade gifts on sites such as Martha Stewart.com or Real Simple.com.

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Current Events - Question 5 of 5


Online Shopping Horror Story:

"I made a purchase through Ebay without reading the seller's feedback comments. All I knew was the DVD I wanted was at an extremely low price. When the DVD arrived, I was surprised that the case wasn't a regular case - it was just a plain white case with no photos. Once I started watching the movie, I realized it was horrible boot leg copy - someone filming the movie in the theater. I learned my lesson - always read the feedback comments. I was also reminded of the old saying, ?If it sounds too good to be true ? it is!?.

Since we usually make poor decisions when we are stressed about what gift to give someone, according to a poll of UNL students, what's the best thing to do if you don't know what to get someone?

Getting a Christmas card is enough for most people

Use an on-line gift guide to get ideas for great gifts that are in your price range

Don't worry about getting gifts - Everyone should understand you're a college student


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ANSWER: Use a online gift guide to get ideas for great gifts that are in your price range

For example, at gifts.com, you can match gifts to your loved ones by personality and by price range.

Remember, it's true that it's the thought that counts, so don't worry about how little money you have to spend. Just get your loved ones a little something to show them you care.

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FINAL RESULTS

0-2 Correct

Sorry, you are not a financial guru. Brush up on your money management knowledge.

Learn more about financial success by scheduling a money management advising appointment at the UNL Student Money Management Center.

FINAL RESULTS

3-4 Correct

You definitely have some financial knowledge, but you're not a financial guru yet. Spend some time brushing up on your money management knowledge.

Learn more about financial success by scheduling a money management advising appointment at the UNL Student Money Management Center.

FINAL RESULTS

5 Correct

Congratulations! You are a financial guru!

Learn more about financial success by scheduling a money management advising appointment at the UNL Student Money Management Center.