The holiday season is supposed to be about joy, giving and spending time with our favourite people. But just as you might pack on a few extra kilos over the holidays, you might pack on some extra debt, too.
On average, Americans plan to spend more than $550 on gifts for friends and loved ones this holiday season, according to a recent NerdWallet survey conducted by Harris Poll. But budgets are tight. Do you have that much to spend without running up your credit cards?
If you don't have a holiday savings fund stashed away, smart planning and clever shopping can ensure you don't end up struggling to pay off debt.
Make a plan and stick to it
When you hit parties without an eating plan, you may put on some weight. Similarly, if you go to the mall without a spending plan, you can rack up debt. With the holiday shopping season already in full swing, make your plan today.
• Really set a budget
In the 2016 holiday season, nearly a quarter of Americans surveyed did not have a gift budget, according to the online Harris Poll of 2,135 US adults conducted in October 2017. Figure out how much you can spend, and think beyond presents. Factor in other expenses - wrapping paper, holiday cards and meals, to name a few.
• Limit your list
With your overall holiday budget in mind, decide who to buy for. Your immediate family and close friends are probably nonnegotiable. But do you really need to get presents for all of your co-workers, neighbours, all of your children's teachers, the gardener, maid and the delivery person? Give to those who really need it.
"Give yourself the gift of a stress-free start to the year by not waking up to a bunch of credit card bills," says Steve Branton, a certified financial planner. "Once you know the amount you can actually spend without going into credit card debt and who you need to give a gift to, you can work back from there to determine who are the most important people, how much to spend on them."
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Read more:
Planning for your children’s future: the gift of financial security
How to budget for a surprise expense in the UAE
20 tips to get your finances back on track in the UAE
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Give creatively
Clothes and gadgets are good go-to gifts, but they can be expensive.
"It behooves people to consider what all the options are around gifts, and there are a lot of creative things you can do to show someone you care without spending a lot of money," says Paul Golden, spokesman for the National Endowment for Financial Education.
• Give moments
Consider giving experiences, such as a "certificate" to an inexpensive or homemade meal together or day at an amusement park. Memories may last longer than the latest gadget - and, as a bonus, this lets you spread out holiday expenses instead of stuffing them all into one month.
• Get crafty
Homemade gifts can lend a more personal touch while saving you money. They don't have to be complex, like a hand-knitted sweater. Search online for inexpensive DIY projects, such as photo collages or baked treats.
• Hold a gathering in lieu of gifts
If you can give only to family this year, suggest that your friends gather for a potluck, cheap "secret gift" exchange or other inexpensive activity. "There is often relief across the board if you say, 'Don't buy me anything,'" Mr Golden says.
Spend smarter
Get the best value when shopping:
• Use credit card points
Check out your card issuers' retailer tie-ups for discount opportunities. Or if you have loyalty points, such as Air Miles card, retrieve points to buy gifts or to do a large grocery shop.
• Compare prices before buying
Shop around and make sure you're getting the best deal. If you're in a store, open a shopping app to see what the price is online (but factor in shipping). Or call a competitor store to see what its price is. When shopping online, search for promo codes.
• Make sure bargains are bargains
While event's such as Souq.com's White Friday can yield big savings on select items, you should know the typical price to make sure you are genuinely getting a good deal. Similarly if the malls have sales on, make sure you know how much items were before the so-called sales price was applied.
• Leave the plastic at home if you know you're likely to overspend
Sticking to cash puts a physical limit on your ability to spend and can help you stay within your budget.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
UAE currency: the story behind the money in your pockets
Essentials
The flights
Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours.
The package
Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
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'Gehraiyaan'
Director:Shakun Batra
Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa
Rating: 4/5
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Dolittle
Director: Stephen Gaghan
Stars: Robert Downey Jr, Michael Sheen
One-and-a-half out of five stars
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
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Results
Final: Iran beat Spain 6-3.
Play-off 3rd: UAE beat Russia 2-1 (in extra time).
Play-off 5th: Japan beat Egypt 7-2.
Play-off 7th: Italy beat Mexico 3-2.
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
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The biog
Nickname: Mama Nadia to children, staff and parents
Education: Bachelors degree in English Literature with Social work from UAE University
As a child: Kept sweets on the window sill for workers, set aside money to pay for education of needy families
Holidays: Spends most of her days off at Senses often with her family who describe the centre as part of their life too
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MATCH INFO
Barcelona 2
Suarez (10'), Messi (52')
Real Madrid 2
Ronaldo (14'), Bale (72')
Sustainable Development Goals
1. End poverty in all its forms everywhere
2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture
3. Ensure healthy lives and promote well-being for all at all ages
4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
5. Achieve gender equality and empower all women and girls
6. Ensure availability and sustainable management of water and sanitation for all
7. Ensure access to affordable, reliable, sustainable and modern energy for all
8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
10. Reduce inequality within and among countries
11. Make cities and human settlements inclusive, safe, resilient and sustainable
12. Ensure sustainable consumption and production patterns
13. Take urgent action to combat climate change and its effects
14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development
15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
17. Strengthen the means of implementation and revitalise the global partnership for sustainable development
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