A Better Approach to Holiday Spending

This program is provided through a grant from the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and the American Library Association (ALA). The grant is distributed as part of the smartinvesting@your library® initiative, an ALA program. This project is in its sixth year of educational partnership with libraries across Colorado and the country. Marsha Yelick CFA (retired) Financial Programs Consultant myelick@estesvalleylibrary.org 970-586-8116 EXT 831 Thank You FINRA

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Try this and … An early holiday GIFT to you! Try this for the holidays: then apply to your life. “Balancing your money is the key to having enough.” ― Elizabeth Warren Try this and …

The Average American or YOU? YOUR CHOICE

Consumerism in America 1850s started the material economy (Extraction, production, distribution, consumption, disposal) Wage labor National banking standards Industrialization Urbanization Marketing 1970s and beyond fueled the economy Communication Credit CONSUMER SOCIETY

Consumerism

Consumerism

Consumerism

The Average American… …will spend over $700 on the holidays AND another $100 or more on self-gifts and non-gift items. CONSUMER SOCIETY

YOU You will make a list… …with the exact gift items for each recipient, an estimated cost, the store to purchase - finishing with a quick review and analysis and a realistic amount relative to your means. YOU

The Average American… …will wander aimlessly through shopping areas and the Internet searching more than 43 minutes a day. CONSUMER SOCIETY

YOU You will limit shopping… …because you know what you want and where to go to purchase it, spending no more than two hours (or a day) to complete your holiday buying. YOU

The Average American… …will be immersed in the STORE music, displays, decorations, smells, excitement, and the mood of the holidays. CONSUMER SOCIETY

YOU You will mainly stay home… …relaxing with a good book (from the Library) and good food or enjoying a free concert in your hometown. YOU

The Average American… …will be driven by urgency, stress, and high expectations to find exactly the right gift. CONSUMER SOCIETY

YOU You will purchase gift cards… …at your gift recipient’s favorite store, where he/she can shop AFTER the holidays when things are on sale for 40% off. YOU

The Average American… …will look at the ads and be confused, misled, and strongly influenced to buy a deal (and spend more). CONSUMER SOCIETY

YOU You will stick to your list which includes a price limit… …because your gifts are not related to “the price” but to the appropriateness for their recipient. YOU

…will spend whatever is needed to purchase the special gift. The Average American… …will spend whatever is needed to purchase the special gift. CONSUMER SOCIETY

YOU

(Planned obsolescence!) The Average American… …will actually believe the ads that add 20% to the price of the article ($412.4 billion per year). (Planned obsolescence!) CONSUMER SOCIETY

YOU You will find lasting gifts… …carefully and thoughtfully chosen to be used and/or to enrich the life of the recipient – things that give into the future. YOU

The Average American… …will “hunt” for gifts that are splashy, special, wonderful or brand new. CONSUMER SOCIETY

…because you thought like the recipient. Your gifts will be usable… …because you thought like the recipient. YOU

The Average American… …will spend more than they have on holiday expenses and create a six- month holiday credit card hangover. CONSUMER SOCIETY

YOU You will be creative and … …shop for any wrapping materials after the holidays at prices of 75% off (and use newsprint in the meantime). YOU

(Including 28 million pounds of edible food!) The Average American… …will increase their waste removal load by 25% between Thanksgiving and the New Year. (Including 28 million pounds of edible food!) CONSUMER SOCIETY

(Highly recommended during the holidays!) You will relax … …with a cup of expensive coffee and a priceless conversation with good friends. (Highly recommended during the holidays!) YOU

SOCIETY SAYS… SPEND CONSUMER SOCIETY

…and realize it had nothing to do with the money! You will recall the best gift you ever received … …and realize it had nothing to do with the money! YOU

enjoy the holidays more! Thanks for attending! Spend less… enjoy the holidays more!