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Overspending? Creighton Financial Literacy Expert Offers Advice for 2018

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The National Retail Federation expects holiday spending to rise by about 3 percent this year. They estimate the average American will spend $950 – and that some may feel “shopper’s remorse” when they take stock of their spending in early 2018.

Dean Obenauer, Creighton University’s Assistant Director of Financial Literacy, has some suggestions for improving your financial situation in 2018.  He says it should start with making a budget. 

“And so, the main thing is, find what, what works for you – whether it just be taking a pencil to the paper – scratching out a budget – 'Okay here’s my resources, here’s my expenses, how am I going to get through the month with that.'  You don’t have to pay off your huge credit card in one month, but what can you do to move forward to take steps to do that, maybe in a few months. So, it’s all about taking baby steps, as long as you cross that finish line.”

Obenauer suggests considering a “spending diet” early next year if you have 

overspent in 2017.  Also, to try saving money in simple ways like shopping sales, clipping coupons and packing your lunch.  And he adds that there are free services and apps available designed to help people save. 

For more information, the website is Creighton.edu