DAVE & DUJANOVIC

Dave & Dujanovic: Make the smart money moves on holiday spending

Dec 14, 2020, 6:10 PM
holiday spending...
This image released by Profiles in History shows a Santa Claus puppet used in the filming of the 1964 Christmas special "Rudolph the Red-Nosed Reindeer." A bidder paid $368,000 for the Rudolph and Santa Claus figures used in the perennially beloved Christmas special “Rudolph the Red Nosed Reindeer.” (Profiles in History via AP)
(Profiles in History via AP)

SALT LAKE CITY — The holidays are in the air and so is money. Are you digging yourself a Yuletide hole with holiday spending? If so, you may need to make some smart money moves. 

Amanda Christensen, associate professor at USU and county director of Utah State University Extension (USU) Service, joins Dave Noriega and Debbie Dujanovic to discuss having a merry holiday season by not overspending.

Debbie said she is taking a week off during the holidays to devote time to the online course, “Power Pay Mastery Course,” sponsored by USU and make it her personal improvement project. Find the course here: power pay.org

Control your urge to splurge

“2021 is going to be an amazing year and I wanted to start it off right financially,” she said. 

Debbie said every Christmas she feels pressured to shower everyone she knows with gifts.

“It’s a budget buster because, frankly, I don’t know when to stop,” she said. 

That’s because there’s a rush to it, and we feel good doing it, Dave explained. 

Amanda said she feels the same way, saying, “I will tell you this is a universal feeling, yet it’s unique to each one of us, isn’t it? We are all triggered or affected in different ways.”

“How can we give ourself permission to cut off our spending or tell ourselves when it’s just time to stop spending on others because that is a hard thing to do?” Debbie asked.

Amanda said conquer that temptation to spend more by setting a per person spending limit.

“Once I’ve hit that limit, I can sit back and relax knowing that I got the most bang for my buck,” she said.

Stash your cash

What are some other ways to stay within your holiday spending budget? Debbie asked.

Amanda’s advice: Decide your total amount to spend on the holidays next year and divide that amount by 12 and that will tell you how much to save each month to spend on gifts.

She said to set up your holiday savings account at your bank or credit union and have the money transfers made automatically. 

“So come October next year, if you wanted to get a jump start on some early holiday shopping, you’d have a little stash of cash to do that with,” Amanda said. “Pretty fun.”

Dave said he has a difficult time about being honest about how much Christmas really costs.

Amanda recommended including in the overall holiday budget the expenses for smaller holiday purchases such as gifts for neighbors and co-workers or stocking stuffers, which is where she says she goes overboard with spending.

“Take all of that into consideration,” she said.

“What are some of the first things I’m going to learn about power pay.org?” Debbie asked.

“Finding your financial ‘why’ and creating a financial vision board are things we have people do right away, right at the beginning, because it drives and directs everything thereafter,” Amanda replied.

Your “money personality” is a unique feature taught during the course, which can be used to curb financial weaknesses,” she said.

Dave said his money personality  is “very Oprah.”

“You get a gift and you get a gift,” he said. “Is that an official term?”

“It is now,” Amanda said.

Dave & Dujanovic can be heard weekdays from 9 a.m. to 11 a.m. on KSL NewsRadio. Users can find the show on the KSL NewsRadio website and app, a.s well as Apple Podcasts and Google Play.  

 

Similar Stories:

Amazon sales surge during a record-breaking holiday shopping season

Holiday spending projected to smash records for retailers

US consumer spending up 8.2%, partly erasing record plunge

Today’s Top Stories

Dave & Dujanovic

Utah Democrats Gene Davis...
Simone Seikaly

Attorney for Sen. Gene Davis says Davis won’t resign from the Utah Senate

The Salt Lake County Democratic Party asked for Davis to resign immediately because of allegations of sexual harassment made against him.
3 days ago
ovarian cancer...
Simone Seikaly

A new chance for a fighting chance against ovarian cancer

What may be most alarming about ovarian cancer is that the symptoms are there, but they are quiet and can be mistaken for something else.
4 days ago
...
Curt Gresseth

Former U.S. Attorney for Utah talks about what FBI can take off your cellphone

A legal expert joined Dave and Dujanovic to discuss how the FBI can obtain evidence of a crime from a cellphone.
8 days ago
centerville arson fire...
Curt Gresseth

What’s behind random acts of violence in Utah?

What's behind a recent spate of random violence in Uta?. A sleeping couple at home in West Valley City is stabbed by an intruder. A stranger enters a home with three elderly people in Centerville and burns it down. Greg Skordas, KSL legal analyst breaks down what he thinks is motivating young people to commit random acts of violence.
9 days ago
Government contractors erect a section of Pentagon-funded border wall along the Colorado River. (AP...
Curt Gresseth

Yuma mayor talks about migrants illegally crossing into city: US has the laws to fix problem

An Arizona mayor talks with Dave & Dujanovic about migrants coming into the country illegally. He says the U.S. has the laws to fix the problems.
10 days ago
BYU study COVID money...
Elizabeth Weiler

Utah’s young adults being launched into the world of financial responsibility

Because young adults are rarely in personal high-income situations, they are categorized as low-income, making them at higher risk for credit card debt. 
10 days ago

Sponsored Articles

Young woman receiving laser treatment...
Form Derm Spa

How facial plastic surgery and skincare are joining forces

Facial plastic surgery is not only about looking good but about feeling good too. The medical team at Form Spa are trained to help you reach your aesthetic outcomes through surgery and through skincare and dermatology, too.
large group of friends tohether in a park having fun...
BYU MBA at the Marriott School of Business

What differentiates BYU’s MBA program from other MBA programs

Commitment to service is at the heart of BYU’s MBA program, which makes it stand out among other MBA programs across the country.
a worker with a drill in an orange helmet installs a door in the house...
Price's Guaranteed Doors

Home improvement tip: Increase the value of your home by weatherproofing doors

Make sure your home is comfortable before the winter! Seasonal maintenance keeps your home up to date. Read our tips on weatherproofing doors.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
A paper reading IRS, internal revenue service is pictured...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Dave & Dujanovic: Make the smart money moves on holiday spending