The Money Couple Minute:
Fall Forward Together
As you look to the months ahead, consider these statistics:
- National Retail Federation reports that consumers are expected to spend $4.75 billion dollars on Halloween this year.
- According to mymoneyblog.com the average family spends $302 during Thanksgiving weekend.
- According to wikianswers.com the average family spends $1000 during the Christmas holiday season.
We find that regardless of a couple’s income, holiday spending can quickly become a battlefield. One of you spends too much, one of you spends too little. Someone splurges when they should have skimped, someone saves when they should have shopped.
Remember, just about every holiday discussion has a money component. So how do you approach this “battlefield” and fall forward together? Here are some Money Huddle conversation starters. Use them - or your own ideas - to get the discussion going. And be ready to compromise with your spouse as you work together to find new ways to approach this season of traditions:
Halloween:
- I would like to save money and have the kids make their costumes.
- I would like to give stickers instead of candy as treats.
- I would like to give some costumes to a friend whose father just lost a job.
- I would like to “Boo” a family.
Thanksgiving:
- I would like to ask our guests to bring a dish to share for this year's meal.
- I would like to go out to a restaurant for Thanksgiving instead of hosting a meal at our house.
- I would like to include our friends in this year's celebration.
- I would like to get a head start on holiday shopping by going to the sales on Thanksgiving weekend.
Christmas:
- I would like to share the shopping with you this year.
- I would like to pick names instead of buying gifts for everyone in our extended family.
- I would like to buy group gifts for our parents.
- I would like donate money or gifts to a local charity or a family in need.
The key to making it through the holidays with your sanity and your relationship intact is to talk through those expectations and make a plan for how you will deal with money during this season.
This fall, make a commitment to start your holiday money conversation early and your “falling forward” will bring you closer then you ever imagined.
Make It Happen!Scott and Bethany Palmer
The Money Couple
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