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Publication #FAR9037

 

Shopping Tips to Save Your Family Money1

Donna Davis2

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There are a few times each year that I am always stunned by the amount of money my family can spend. While I keep trying to plan ahead, the holidays and back-to-school shopping always seem to catch up to me too quickly. Whether you're dealing with holiday shopping (including Mother's Day, Father's Day, and Valentine's Day!), back-to-school shopping, or happen to have a big family with plenty of birthdays to buy for, the Institute of Consumer Financial Education suggests a few shopping tips.

As credit card use rises, the ICFE warns, so is the amount of debt carried by card holders, as well as cardholder fees. They suggest that you avoid using credit cards to spend income you haven't yet earned. Be sure you can pay the card off promptly as you consider the fees and interest you spend for the convenience.

The ICFE also offers a few spending tips for getting better value when you're doing your shopping. For example, for back-to-school shopping, make a list of what you need by category, such as clothing, books, sports, and music. During peak spending periods, spread out purchases over several weeks, allowing some flexibility in order to take advantage of sales and true bargains. And, while children can be powerful in their persuasion, resist purchasing items that are too trendy, as they often lose their attraction relatively quickly. Many small steps can add up to big savings, especially when you plan ahead (ICFE, 2005).

Listening, learning, and living together: it's the science of life. "Family Album" is a co-production of University of Florida IFAS Extension, the Department of Family, Youth and Community Sciences, and of WUFT-FM. If you'd like to learn more, please visit our website at http://www.familyalbumradio.org.

To listen to the radio broadcast:

http://www.radiosource.net/radio_stories/239.mp3

http://www.radiosource.net/radio_stories/239.wav

Reference

Institute of Consumer Financial Education. (2005, July). Helpful tips for organizing back-to-school spending. Retrieved June 4, 2007, from http://www.financial-education-icfe.org/financial_news_press_releases/2005/20050727_helpful_tips_for_organizing_back-to-school_spending.asp.

Footnotes

1.

This document is FAR9037, one of a series of the Family Youth and Community Sciences Department, Florida Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida. Broadcast as program 239 and published March 2009. Reviewed March 2012. In the interest of time and/or clarity, the broadcast version of this script may have been modified. Visit the EDIS website at http://edis.ifas.ufl.edu.

2.

Donna Davis, senior producer, Family Album Radio, Department of Family, Youth and Community Sciences, Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida, Gainesville, FL 32611.

The Institute of Food and Agricultural Sciences (IFAS) is an Equal Opportunity Institution authorized to provide research, educational information and other services only to individuals and institutions that function with non-discrimination with respect to race, creed, color, religion, age, disability, sex, sexual orientation, marital status, national origin, political opinions or affiliations. For more information on obtaining other extension publications, contact your county Cooperative Extension service.

U.S. Department of Agriculture, Cooperative Extension Service, University of Florida, IFAS, Florida A. & M. University Cooperative Extension Program, and Boards of County Commissioners Cooperating. Nick T. Place, Dean.