BAKERSFIELD, Calif. (KERO) — With Halloween approaching, followed by Thanksgiving and Christmas, families may face added financial pressure this holiday season as everyday expenses and the cost of gifts continue to add up.
At the Community Action Partnership of Kern (CAPK) Food Bank, staff are preparing for another busy holiday season as more families seek food assistance.
“We always see the need increase every year; year after year there’s an increase. A lot of it’s due just to the cost and the impacts to the economy,” said Kami Gonzalez, program manager for the CAPK Food Bank.
Gonzalez said changes to CalFresh could further increase the need for food assistance, with an estimated 1,400 participants a month expected to lose food benefits.
“We’re already feeling it. We’re seeing the increase of the families showing up to our distributions, even here at the food bank,” Gonzalez said. “So we find that we’re starting to service a lot more neighbors than what we were.”
As families prepare for holiday spending, Aaron Hegde, an economics professor at California State University, Bakersfield, said higher prices could make the season more expensive even for people who don't plan to buy more than they did last year.
The National Retail Federation forecasts holiday retail sales in November and December will increase by about 4% compared to the previous year.
Hegde said that increase doesn't necessarily mean people are buying more.
“So even if you’re buying the same number of gifts, you’ll pay more, about 4% more because of inflation,” Hegde said.
Gifts aren't the only expense families need to consider. Hegde said grocery costs remain high, including the cost of meat for holiday meals, while gas prices can make traveling to visit family more expensive.
He also cautioned families about relying on credit cards to cover holiday expenses, saying debt can become more costly over time.
“Some people choose not to take on the debt, but those who do will know, or should know, that that debt is way more expensive than the same debt they took on last year,” Hegde said.
His advice is to look for deals online, set a budget and remember that meaningful holiday memories don't have to come from expensive gifts.
For families struggling to afford food and other essentials, local assistance may also be available through the CAPK Food Bank and other community resources.
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