| We, at the Center for Financial and Consumer Outreach, would like to wish you and yours a very happy and blessed holiday season! |
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9 HOliday Savings Tips
| During the holiday gift buying frenzy, it is easy to feel overwhelmed and  stressed about not having enough money to spend on your loved ones. You do not have to go into debt to show how much you care. With some careful planning and creative gift giving, you can enjoy some holiday cheer without the financial fear.
Check out these holiday savings tips from Practical Money Skills: - Develop a budget and stick to it: Do not spend more than 1.5 percent of your household annual income on holiday gifts and entertainment. Check out a free online Holiday Budget calculator.
- Create a "micro budget": Write a list of everyone on your gift list and decide how much you would like to spend on each person. Track how much you spend using this Gift Log calculator. This budget should also include costs for additional items such as cards, postage, gift-wrapping, meals, parties, travel, etc.
- Shop early: Do not wait until the very last minute to buy presents or you may end up overspending or buying items you did not plan to. Having extra time to compare prices is especially helpful when buying big-ticket items such as electronics or even a new bicycle.
- Get creative: Handmade gifts or even personalized coupons can be a special treat in this age of store-bought presents. Think about what the person may want or need then incorporate your own talents. For example: bake some cookies; create a photo album or decorate a picture frame; knit a blanket or scarf; compile your favorite tunes into a music CD; or give a coupon for a home-cooked meal, babysitting time, house cleaning, or even a free one-hour lesson in an area where you are an expert (e.g., computers, dance, cooking, art) - the list is endless.
- Draw names & create a spending cap: These ideas work particularly well for large families and groups of friends. This way, everyone gets a gift but each person only has to buy one gift. Depending on the flexibility and humor of the group, you could: limit the gift to $10-$20 per person; agree on a gift theme (e.g., tropical getaway, house decor, etc.); or even re-gift!
- Shop online: It's fast, easy, and you can easily comparison shop. By ordering from the comforts of your own home, you also resist extra temptations like eating out or making impulse purchases.
- Pay off your credit cards: If you plan to shop with credit, make sure you have enough money in your bank account to pay off the amount when the bill arrives. Also, consider using cards that offer extra incentives such as frequent flyer miles.
- Donate more than cash: Do not spend more than 1.5 percent of your household annual income on holiday gifts and entertainment. Check out a free online Holiday Budget calculator.
- Enjoy free and inexpensive holiday activities: There are ample ways to get into the holiday spirit without breaking your budget. Check out your local community calendar for free holiday activities and performances such as a tree lighting or parade; snuggle up with the family and watch a holiday classic such as, "It's a Wonderful Life"; go caroling; have the kids put on a holiday play and invite the neighbors for a potluck dinner; or celebrate with Game Night and pull out your best board games.
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Helpful Holiday Hints
Links to Help you Stretch Your Dollars this Holiday Season
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Girls World Expo
December 2, 2012
On Sunday, December 2, 2012, the Sam & Irene Black School of Business at Penn State Erie, the Behrend College was one of the sponsors for the 2012 Erie Girls World Expo. Over 1,000 girls in the tri-state area were in attendance. At the Expo, these girls had the opportuniy to learn more information on a wide range of topics from goal setting to fashion, and everything in between.
The Center for Financial and Consumer Outreach was on-hand to provide financial literacy activities to the girls in attendance. In addition, the winner of the Girls Who Mean Business contest, sponsored by the Sam & Irene Black School of Business was also announced.
For more information on the Girls World Expo, click here. | |
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Girls Who Mean Business Winner Named
Girls World Expo - Erie, PA
Tweens and teens pitched their business plans in 9 0-second videos to earn $250 in start-up help, and the winner was announced at Girls World Expo on Sunday, Dec. 2. Congratulations, Nya Meyer!
A panel of faculty members and alumni of Penn State Behrend's Sam and Irene Black School of Business selected Nya Meyer's idea for Crazy Color Craft as the winner of the Girls Mean Business Award.
For more information on the Erie Girls World Expo, click here to visit their website. | |
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Special Feature
by Gannondale
Students at Gannondale recently produced a short film explaining several different aspects of financial management. With the help of their teachers, seven students collaborated in an innovative learning activity on the topics of: banking, loans, debt management and credit scores.
These students were presented with certificates of achievement from the Center for Financial and Consumer Outreach for their outstanding video on these topics. To view the students' video, click here. | |
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Annual Activities Report
2011-2012 | |
The Center for Financial and Consumer Outreach's annual activity report is now available! For a detailed overview of the financial outreach and initiatives that the CFCO carried out throughout the 2011-2012 year, click here. |
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Program Information & Samples
http://cfco.psu.edu/programs.html | |
If you are interested in learning more about the CFCO's financial literacy outreach programs, simply visit the link above, or click here. In addition, there are samples of each presentation available on our site so that you can gain an understanding of what each program includes. Some programs also have a short informational video.
Once you get to the site, simply click on the program that you would like to learn more about to view samples and additional information for that program.
If you are interested in requesting one, or more, of the programs, click here to access the Program Request Form. |
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FREE Financial Webninar Available
Raising Money Smart Kids | |
Like many other subjects, children need instruction on basic financial skills - the building blocks that will help them make smart money choices in the future. Parents have the power to teach their kids sound, proven financial techniques that will help them grow into worry-free, successful adults. The CFCO's director, Erica Jackson, presented a financial webinar in partnership with the Pennsylvania Treasury Department to help parents tackle these issues. "Raising Money-Smart Kids" is now available on the Pennsylvania Treasury Department's website. |
Financial EduNation
An Online Resource Center for Everyone! | |
Financial EduNation is an online resource center offered by the CFCO in partnership with the National Financial Educators Council. This online tool is full of resources for students, parents, educators, and community leaders. Students can test their knowledge of financial literacy topics, while parents and educators can learn how to communicate more effectively with youth about financial literacy topics.
Qualified organizations receive complementary access to the comprehensive Financial EduNation resource center. This is provided on a first-come, first-serve basis. For more information about the Financial EduNation resource center, simply contact at our office at cfco@psu.edu. To visit Financial EduNation, click here. |
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Mindful Money
Monthly Financial Feature | |
Due to the holiday season, there will be no Mindful Money article this month. The Mindful Money monthly financial feature will continue with new articles and experts in January 2013.
To register for the CFCO's monthly Mindful Money column, click here. |
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Mark Your Calendars | |
National Financial Literacy Month (April 2013)
Teach Kids to Save (April 23, 2013)
3rd Annual High School Symposium (May 15 - 16, 2013)
Money Matters Conference (May 2013)
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"Like" Us on Facebook
Stay Connected | |
If you have not already "liked" the Center for Financial and Consumer Outreach, you may want to in order to stay up to date on what the CFCO is doing. New outreach initiatives, CFCO events, and the latest in financial news are all posted regularly on our Facebook page in an effort to keep consumers informed.
To "like," search "The Center for Financial and Consumer Outreach," or click here. |
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Contact Us
Erica Jackson, Director
ekj2@psu.edu
(814)-898-6784
Chris Holmes, Graduate Assistant
cmh5282@psu.edu
(814)-898-6553
Amanda Shields, Intern
ars5458@psu.edu
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CFCO Homepage | |
Our new website is equipped with everything that you need to set out on the road to becoming financially savvy!
On our new site, you will find links to current financial news, a background on our center, a list of our current programs complete with a program request form, and our contact information. | |
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Join the Conversation!
As the holiday season approaches, it's hard not to think about your favorite things of the season, so we want to know:
What is your favorite part of the holiday season?
Vote Here | | |
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Additional Resources
CFCO's Financial Calculators:
NEW! Tooth Fairy Calculator
Saving for a Goal
Back to School Budget
My Bonus After Taxes
Save A Million Dollars
Mortgage Payment
For more information and more financial calculators, visit the CFCO's website here. | | |
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