The holiday reports are in! Retail spending will increase across the board by about three percent this year, reaching its highest point since the Great Recession. Many reports also show that people are feeling more secure about their finances as a whole and are planning their purchases more strategically. We want to celebrate this fact by encouraging Military Savers to take these good financial habits with them into the New Year.
Please share the article, social media content, and resources provided with your constituents, your partners, and the general public. As always, please encourage individuals to take the Military Saves Pledge—an important step in creating a plan to reach their savings or debt reduction goals. After all, those with a plan are more likely to achieve their goals!
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Holiday shoppers have been careful each holiday season to make their lists and check them twice. Budgets have become more discerning, and savers have become better planners for their holiday spending, prioritizing savings along the way.
According to a September 2016 report, two out of five millennial shoppers got a head start this year and had started buying gifts for the season before summer had even come to a close.
These successful financial habits don’t have to stop there. With the New Year comes an opportunity to make some improvements to your financial health. Don’t make just another resolution that disappears by Valentine’s Day. Take your financial wellness to a whole new level: a New Year, a new financial you.
These five steps will help you to establish your best financial path for 2017, and you can have all the heavy lifting done before the clock strikes twelve:
A new financial you is an achievable goal for 2017. Join those savers who have successfully opted to reduce holiday spending and prioritize savings throughout the season. To learn more about spending and saving during the holidays and take the Military Saves pledge, visit MilitarySaves.org.
Tammy G. Bruzon works for Military/America Saves, managed by the nonprofit Consumer Federation of America (CFA), which seeks to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. Learn more at militarysaves.org.
Share the following messages with your Facebook & Twitter followers.
Retailers will trick you into #spending money this #holiday season. Here's how: http://ow.ly/oK9D305Ytpm @MilitarySaves #SavingsTipTuesday
"Make bite-sized money goals," like setting a spending limit this holiday season http://ow.ly/yEvt306ahfv @MilitarySaves #SavingsTipTuesday
Find the funds for the #holidays without #credit cards and #debt! Here's how: http://ow.ly/ToEn8 @MilitarySaves #SavingsTipTuesday
Make 2017 the year you're ready for life's gotcha moments! http://ow.ly/N8tM306chNp @MilitarySaves #SavingsTipTuesday
Take control of #saving & #spending during the #holidays- create a holiday budget! http://ow.ly/D4dJR @MilitarySaves #SavingsTipTuesday
Insulate your #finances from seasonal chills this holiday season. http://ow.ly/QDyp306ciGG @MilitarySaves @FINRA_Investor #SavingsTipTuesday
Take these 10 steps to reduce your #holiday stress, expenses, and regrets: http://ow.ly/EavIN @MilitarySaves #SavingsTipTuesday
You may spend $800 or more this holiday season on gifts. Plan with a FREE budget! http://ow.ly/vQ2H306ajFV @MilitarySaves #SavingsFactFriday
The average consumer will spend $1000 or more between Halloween & New Year's. http://ow.ly/ToD9D @MilitarySaves #SavingsFactFriday
Spending on extras can blow your holiday budget. Make a plan & stick to it! http://ow.ly/D4fcB @MilitarySaves #SavingsFactFriday
Setting reasonable expectations can keep your #holiday shopping in check. http://ow.ly/D4fus @MilitarySaves #SavingsFactFriday
#MilitaryConsumer is revamped with articles,/tips, including those on spending $. http://go.usa.gov/xkJdr @MilitarySaves #SavingsFactFriday
A list is different from a budget. And 6 other signs you may be spending too much. http://ow.ly/spVX306cjs0 @MilitarySaves #SavingsFactFriday
When you create your #budget, include extras, like holiday parties and meals. http://ow.ly/1yxF306ckoW @MilitarySaves #SavingsFactFriday
Protect your #identity while #shopping online. Avoid public computers, & verify websites are secure. http://ow.ly/ToHcH @MilitarySaves
#Holiday #shopping with a #credit card? Calculate what it will take to pay off that #debt: http://ow.ly/ToND9 @MilitarySaves
Assess your current #financial stability to determine your approach to #holiday #spending: http://ow.ly/ToPhZ @MilitarySaves
The #costs of going home for the #holidays can be high. Use the Holiday Travel Planner to plan ahead: http://ow.ly/ToS5Q @MilitarySaves
Do you have a savvy tip or story about #holiday #savings? Share it with @MilitarySaves! http://ow.ly/eG4h306fniM
Ever wish you could just ask an economist? @AmericaSaves did! Here's what they had to say about holiday spending: http://bit.ly/2efx07w @MilitarySaves
Please join @AmericaSaves and @MilitarySaves on Thursday, December 8th at 2pm Eastern for a 45-minute power chat on savings and financial habits during and after the holidays.
Americans plan to spend over $900 on their holiday shopping this year. It makes sense when you add up all the travel, meals, gifts, tips, and even the lights! Please join our Twitter conversation to discuss how to set a holiday budget, limit spending, and establish good savings habits for the New Year.
Aaron Klein, fellow of economic studies at Brookings Institution (@Aarondklein)
Mark Calabria, director of financial regulation studies at CATO Institute (@MarkCalabria)
Topic: Holiday Habits: Spending Less and Saving More
Holiday Spending + Savings in the News
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