Have a financially healthy holiday!

first_imgIt is September and if you were to step into a few stores, you would think the holidays start tomorrow! Ornaments, decorations, cards, wrapping, and trees are all available already. This made me wonder about how much the average American spends on the holidays. The National Retail Federation’s study, “The Cost of Christmas Gifts in 2019, 1” asked American’s what they were expecting to spend in 2019 and here are the results: 33% expected to spend at least $1000 on gifts.22% expected to spend between $500 and $999.29% expected gift spending to be between $100 and $499.3% planned to spend less than $100.8% said that they would spend nothing for gifts5% were unsure.There is nothing wrong with splurging on the holidays, when you have planned for it and can afford it. However, it is possible and even probable you can have a joyous holiday season without going further into debt and experiencing that “financial hangover” in January. Here are some ways to reframe your holiday spending: Holiday Spending PlanStart with the funds you already have available to spend on the holidays. How much is that? Is that enough? How much more will you need? If you need more, where will get it? What is the cost of credit? How far into debt are you willing to go for the holidays? Know these things BEFORE you shop. Gift List How do you know if you have enough money? You make a list of the people you would like to purchase a gift for, you include an idea, and the cost of that idea. This is only part of your holiday budget. Other than gifts, what other holiday costs should I plan for? Decorations (inside and out)Special Holiday Meals (eating out or cooked at home)Holiday Travel (to see friends and family)Entertainment (holiday lights, nutcracker show, parties, etc.…)Special Outfits (for parties)Gift Wrap / Cards / Postage Photography (family Christmas picture)The study mentioned, was just focused on gifts but if we were to include all the costs of the holidays (mentioned above) those numbers would be much higher. How can we help our members have a Financially Healthy Holiday? Talk about holiday spending in your newsletter or social media. This could include fun shopping tips or creative gift giving. Offer a “Breezing through the Holidays” workshop or webinar and help them formulate a plan now, in September/October. Offer Holiday Club Accounts that are specifically designed to help them manage holiday spendingOffer a “skip a pay” option in November/December to provide some space in their cash flow for the holidays. Offer a “Getting Back on Track” (Budgeting) workshop or webinar in January. 1  Average Cost of an American Christmashttps://www.investopedia.com/financial-edge/1112/average-cost-of-an-american-christmas.aspx 59SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Cynthia Campbell Cynthia is a Credit Union Development Educator (CUDE), she holds a BS in Business Administration and an MBA from Elmhurst College in Illinois, and a master’s degree in Adult … Web: www.balancepro.org Detailslast_img read more

1 training health officials say every business should have

first_imgBefore this law was passed, Alycia McKnight, who once saved someone at work with her own personal kit, hosted a Narcan training with Truth Pharm for her coworkers. Less than a week later, McKnight said one of the kits given out at the training saved someone’s life. Knapp warned the current pandemic may isolate loved ones; she encourages everyone to reach out to loved ones during this time. The drug is more commonly known by its brand name, Narcan. Knapp and others are hoping the law will encourage people to be trained in Narcan and allow them to intervene when needed. She told 12 News she hopes more people realize how serious the opioid problem is in the Southern Tier. Governor Andrew Cuomo signed into law a bill that expands Good Samaritan rights to businesses that prevent people from overdosing. Including restaurants, hotels and retail stores, the bill protect businesses if they use Naloxone to save someone’s life. “This is definitely a good thing because the more people that have access to Narcan, the more places that Narcan be used, the more lives ultimately will be saved,” said Marissa Knapp, the opioid overdose prevention coordinator for the Broome County Health Department. For information on how to be trained with Narcan, and how to obtain it locally, click here. “People think that we’re immune to it because we’re such a small community,” said McKnight, who lost her brother to an overdose in 2009. “It’s happening more and more in the rural areas.” (WBNG) — Potentially saving lives just got a lot safer for residents across New York. For local leaders on the front lines of the opioid epidemic, the more people who are equipped to use Narcan, the better.last_img read more

Employee charged for stealing from boss

first_imgCalvin Francis, a maintenance worker attached to a popular restaurant on Mandela Avenue, Georgetown, made his first appearance on Friday before Magistrate Leron Daly to answer a charge of simple larceny alleging that he stole $109,000 from his employer on September 12th last while he was employed at the man’s place of business.The prosecution is contending that on the day in question, the defendant was seen on closed circuit television footage entering the restaurant and carting off a box which contained the cash.Police Prosecutor Sanj Singh informed the court that Francis, who has no fixed place of abode, had previously been charged for simple larceny and robbery.In his defence, Francis told the court that he did not take the money, and that he was being framed.Magistrate Daly, however, remanded Francis to prison.last_img read more