Money Fix: Holiday tipping on a budget

Young people newly living on their own certainly get the concept of holiday gift giving. But how about tipping those who've provided regular or special services throughout the year? That may come as a little surprise, with the first questions being: Who and how much? However, Roberta Schroder, chair of the economics department at Nassau Community College, says there's a more relevant question: How much can you afford to give?PLAN: Work backward, she says, and determine your tipping budget. Happily the end of December is not a firm deadline for giving, as there's no problem with handing over a "Happy New Year and Thank You" envelope well into January.

WHO: People often give a little something extra to those who provide personal services: hairdressers, barbers, dog groomers, apartment or condo maintenance staff.

WHAT: A true tip is cash, often tucked in a thank-you holiday card, but gift cards can also be appropriate. For people you don't know well, select gift cards to generic and easily accessible places, says Schroder. Jonathan Gordon, financial education counselor with Bethpage Federal Credit Union - just two years out of college, himself - says this year, using points he earned on a rewards credit card, he's expressing thanks to his regular UPS driver with a couple of movie passes.

ADVICE: Look for guidance on who and how much to tip at WalletPop.com and Consumer Reports.org, searching for "holiday tipping." But keep in mind Schroder's advice: Regardless of suggested amounts, stick to a budget. No one expects a mega-tip from someone just starting out, she says. Gordon's suggestion: "When in doubt, ask grandma or mom or dad" for advice.