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ReadersSpeak

Spend without going overboard

ussein Ahmed, CEO
and founder of finan-
cial platform Oxygen,
H emailed us recently
about research that indicates finan-
cial stability is top of mind for shop-
pers this year. Sixty-three percent of American consum-
ers responding to Oxygen's survey indicated they do
not plan to spend more money this holiday season,
Ahmed stated, adding that this is likely because con-
sumers are focusing on having more funds in the new
year.

He noted that 58 percent of survey respondents said they
have made personal finance resolutions for 2022 such as
saving more money for activities like traveling, going
out and shopping (53 percent); not living paycheck to
paycheck (58 percent); and having more than $10,000 in
their savings account (37 percent).
He also offered the following tips to help people who
celebrate the year-end holidays begin the new year on
track to further their financial goals:

• Track what you spend. Use a financial tool that
provides a holistic view of what you’ve spent on
your holiday purchases, and set a budget for how
much you want to spend in total.

• Avoid overspending. Be cautious about tools
such as buy now, pay later (BNPL) which is
another form of credit. These tools can lead to
overspending.

• Set a realistic financial resolution and stick to
it. Use automatic savings tools available through
your bank and set a regular cadence of money
deposited into your savings.
• Get a debit or credit card that allows you to
receive perks for purchases. Sign up for a debit
card that offers a loyalty program so you aren’t
dealing with interest.
• Keep it as easy as possible; find a financial tool
that does the work for you. Do your research,
and find a tool that suits all your needs from
budgeting to saving.
We wish to thank Hussein Ahmed for this timely advice.

Financial stability and you

Is financial stability the top goal for you in 2022? Why
or why not? And what about your merchant customers?
Is financial stability top of mind for them right now?
Let us know at greensheet@greensheet.com.

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