During the holiday season, you no doubt have a lot going on in your life — such as work functions, gatherings with friends and neighbors, and tracking down the elusive perfect gift.

But you may find it valuable to add one more event to your calendar: a family meeting to discuss those financial preparations that affect you and your loved ones.

Of course, the scope of your meeting will depend on your age and the age of your children, and on whether you have elderly parents.

So, let's look at one family meeting scenario that would work under two different sets of circumstances: you are meeting with your own grown children or you are meeting with your elderly parents.

In either case, you'll want to review the following areas:

Investment information — It's a good idea to let your grown children know where you (and your spouse, if still living) keep your investments and what sort of investments and retirement accounts you own, such as your IRA, 401(k) and so on.

You should also provide your children with the name of your financial adviser. And talk to your parents about their investments.

You might think that this could be challenging topic to bring up, but you might be surprised at their willingness to talk.

Estate planning documents — Comprehensive estate planning can involve a variety of legal documents, such as a will, a living trust or power of attorney.

If you have already created these documents, you need to share their location and their intent with your grown children, who will be active players in carrying out your estate plans.

The same is true with your elderly parents — try to encourage them to share all their estate-planning documents with you, especially if they will be counting on you for their care.

Names of professional advisers —As you put together your estate plans, you will likely need to work with a team of financial, tax and legal advisers.

Make sure your grown children know the names of these professionals and how to contact them.

Similarly, seek the same information from your parents.

Wishes for future living arrangements — It's certainly possible that you will be able to live independently your whole life.

On the other hand, you may eventually need some type of long-term care, such as that provided in a nursing home or an assisted-living residence.

Let your children know what your feelings are about such a possibility, and what preparations you have made.

And try to elicit the same information from your own parents.

Funeral or burial instructions — You can probably find topics that are more pleasant to discuss than funeral plans. Yet, if you make your own burial or cremation plans in advance, and possibly even prepay for them, you will be taking a tremendous burden off the shoulders of your loved ones, who won't be forced to make difficult decisions — or scramble for money at short notice — during a highly emotional time in their lives.

Once again, you'll also want to learn about your parents' desires for their final arrangements, and what steps they may have already taken in this area.

By holding a family meeting about these issues today, you can avoid a lot of stress and misunderstandings in the future.

So bring out the coffee and cookies — and start talking.

This article was written by Edward Jones for use by your local Edward Jones financial adviser.

This article originally appeared on Crestview News Bulletin: SHANKLIN: Time for a family meeting to discuss financial preparations

Holiday spending can really blow a budget quickly. Don’t end up in debt just because you have a long list of people to buy for this year. 

Try these strategies to stay within budget:

●Set a spending limit with loved ones.  You may be concerned that this will make you look “cheap,” but in reality it may relieve your loved one’s budget, too, and help them narrow down a gift idea.

●Propose a “secret Santa” gift exchange. This can allow you to keep your gift-buying list short. Not only do you only buy for one person in a group, but you can also set a spending limit for gifts. Buy one really good gift, instead of many smaller gifts. Turn it into a “white elephant” game for more fun.   

●Try your hand at a homemade gift.  Creating a personalized gift shows you took the time to put together a gift that you think someone would like.

Not handy?

Try something simple like a jar of soup mix for co-workers. Follow the recipe in the sidebar to layer ingredients in a mason type jar and — boom! — a beautiful and yummy gift is ready to go.

Don’t forget to include preparation instructions on the gift tag.   

●Want to do something different for loved ones? Watch the internet for deals on dinner, movies or a show. You can sometimes get a great bargain and bond with loved ones creating memories, rather than giving a gift they will use once or twice. Admission to the Florida State Parks is generally inexpensive, and we have many area parks. Have you been to the Florida Caverns in Marianna?

●It is not too late to make a holiday spending budget — the key is sticking to it. Buy on sale, compare prices in ads, search online for the best deals, and don’t panic over brand names.

A gift should be something special that you want a person to have. That makes it wonderful, no matter the logo on the box. 

For more tips or for help saving money, feel free to contact me at 689-5850 or jbreslawski@ufl.edu.

In addition, check www.okaloosasaves.org to take the America Saves Pledge and follow Okaloosa Saves on Facebook and Twitter. 

Jill Breslawski is an agent at the University of Florida's Institute of Food and Agricultural Sciences Extension office in Crestview.

Ingredients

•1/2 cup dried green split peas

•1/3 cup beef bouillon granules

•1/4 cup medium pearl barley

•1/2 cup dried lentils

•1/4 cup dried minced onion

•2 teaspoons Italian seasoning

•1/2 cup uncooked long grain rice

•1/2 cup uncooked alphabet pasta or other small pasta

•1 pound ground beef (90 percent lean)

•3 quarts water

•1 can (28 ounces) diced tomatoes, undrained

Directions

1. In a 1 and 1/2-pint jar, layer the first seven ingredients in the order listed. Wrap pasta in a small sheet of plastic wrap; add to jar. Seal tightly. Store in a cool, dry place for up to three months.

2. Remove pasta from jar and set aside. In a Dutch oven over medium heat, cook the beef until no longer pink; drain. Add the water, tomatoes and soup mix; bring to a boil. Reduce heat; cover and simmer for 45 minutes. Stir in the reserved pasta; cover and simmer for 15 to 20 minutes or until the pasta, peas, barley and lentils are tender.

Preparation should take 15 minutes. Cook time is 1 and 1/4 hours

Yields 16 servings (4 quarts) per batch.                         

Recipe courtesy of tasteofhome.com

Friendship soup mix

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This article originally appeared on Crestview News Bulletin: BRESLAWSKI: 5 ways to Christmas shop on a budget

Having a hard time deciding what to read next? With your Crestview Public Library card, you can access Books & Authors, a source to help you decide which book to pick up. 

Books & Authors lets you browse by genre, author and title, giving you lists of read-a-likes.

You can also browse their extensive lists of award-winning categories — some popular, like the Pulitzer; others you might not have heard of, like the Samuel Johnson Prize for Nonfiction (awarded for excellence in the area of nonfiction), and the Orbis Pictus Award for Outstanding Nonfiction for Children (established in 1990 by the National Council of Teachers of English).

With Books & Authors, you can create lists of books in your “Reading Room” to annotate and remember all the books you have read. 

Marie Garcia is the Crestview Public Library's assistant director.

This article originally appeared on Crestview News Bulletin: GARCIA: This Crestview library online resource has suggestions for your next read

It's almost Thanksgiving, a holiday that once celebrated the harvest season.

Although many of us today may not be directly connected to agriculture, we still gather on Thanksgiving with our loved ones to share whatever "bounty" we may have.

But this practice doesn't have to begin and end with food. Why not incorporate the spirit of sharing into your overall financial strategy?

Here are a few suggestions for doing just that:

Make financial gifts. You could give shares of stock to your loved ones, or perhaps give them money to help fund their IRAs. (They must have earned income, however, to be eligible to contribute to an IRA.)

You can give up to $14,000 per year, per recipient. If you are married, you and your spouse can each give up to the $14,000 yearly limit.

Invest in your children's future. To help your children meet the high costs of higher education, you might want to invest in a college savings vehicle.

One option is to consider is a 529 plan. When you contribute to a 529 plan, your earnings are subject to tax-free growth potential, and distributions are free of federal taxes, provided they are used for qualified higher education expenses. (Keep in mind, though, that Section 529 plan distributions not used for these qualified expenses may be subject to income tax and a 10 percent penalty.)

Furthermore, if you invest in your home state's 529 plan, you may receive state tax incentives. Tax issues for 529 plans can be complex, though, so you'll need to consult with your tax adviser about your situation.

Another benefit of 529 plans: You control the assets right up to the point at which they are actually used. So, if you have been putting away money for a particular child (or grandchild) and he or she decides against college, you can easily switch to another beneficiary.

Review your insurance policies. If something were to happen to you, is your life insurance sufficient to take care of your family?

In other words, would there be enough money available to pay off your mortgage, send your children to college and help your surviving spouse meet at least some of his or her retirement expenses?

A financial professional can help you determine if your life insurance is sufficient for your needs.

Consider involving your family with your estate plans. To help ensure your wishes get carried out the way you intended, consider keeping family members informed of your estate strategy, which could involve your will, living trust, power of attorney and other legal documents.

And don't forget to keep your beneficiary designations up to date on your retirement accounts and your life insurance policy. So if you've gone through changes in your family situation, such as a divorce or remarriage, work with your professional team, including your financial adviser and your tax and legal advisers, to ensure your investment strategy aligns with your estate goals.

Once the turkey is eaten and the football games have ended, Thanksgiving will draw to a close.

But consider these strategies sharing your "bounty" with your loved ones all year long — and throughout your lifetime.

This article was written by Edward Jones for use by your local Edward Jones financial adviser.

This article originally appeared on Crestview News Bulletin: SHANKLIN: Share your 'bounty' with your loved ones