Americans are expected to spend $97.1B on technology gifts this year — Houston expert shares financial advice for shoppers

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From online shopping to gifting devices, technology plays a huge role in the holidays, this Houston expert says. Getty Images

Like clockwork, the holidays are here again. Black Friday, Small Business Saturday, and Cyber Monday have all successfully come and gone, but yet, many of us are still left with presents to purchase and to-do lists to complete. Houstonians are expected to spend $1,562 this holiday season completing their holiday shopping. That is up three percent from last year.

While Houstonians expect to spend over $500 on gifts for loved ones, a whopping $606 will be spent on "experiences" and $421 on non-gift items such as clothing and home furnishings as they gear up for the holiday season with parties and houseguests.

What are Americans planning to buy this holiday season? Nationwide, 74 percent of Americans are expected to spend $97.1 billion on technology gifts this holiday season. According to a survey, the number one technology gift for this year is content-related gifts such as video games or streaming services. The days of buying discs or consulting the TV Guide are long gone. Americans are looking for ways to stream music, movies, and TV shows.

Other hot technology gadgets include smart speakers, smart phones, TVs, laptops, tablets, and wearables. Smart camera doorbells, which allow residents to see who is at their door, and smart lightbulbs, which enable lighting to be controlled remotely through the internet, continue to climb the gift-giving lists.

Technology is playing a significant role in how we make our purchases. Fifty-six percent of Americans are planning to buy their holiday items online, with only 36 percent obtaining gifts and other seasonal items in brick and mortar locations. Many of us are ordering gifts right from our smart phones.

All this spending on others, while thoughtful, is bound to get some of us in financial hot water. The key is to budget. Set a budget for each person you plan to shop for, such as family members, colleagues, friends, even for service providers such as your hairstylist. Once your budget is set, stick to it. I have found that using a spreadsheet to track expenses is helpful, or good old-fashioned pen and paper works well, too. You may be surprised how quickly your expenditures add up, even the small ones. Tracking is an excellent way to stay accountable to your budget.

Last year, the average consumer racked up over $1,000 in debt as part of their holiday shopping. By budgeting wisely, you can avoid debt. While credit cards are convenient, sometimes they make it a little too easy to spend more than planned. Not staying within your budget can give you quite a spending hangover in January. To combat credit card overuse, use cash whenever possible.

Additionally, limit your shopping days. The less you visit stores or malls, the less likely you are to be tempted. Moreover, purchasing online can help you stick to your budget, just be careful not to spend more than your budget allows. Another smart strategy to cut costs is to select items with free shipping over fast shipping.

With the holidays quickly approaching, ensure you are smart about your holiday spending. Technology is a fantastic and convenient avenue for shopping. And, our smart phones have provided us another avenue in which to compare prices and look for deals. Whichever channel you choose to shop — bricks and mortar or cybershopping — ensure you stick to smart spending.

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Dominic Cellitti is a financial adviser with the Wealth Management Division of Morgan Stanley in Houston.

Every penny counts when you're starting a company. Getty Images

4 financial concerns to keep in mind when launching a startup

Must be the money

You have been working on a new creative technology idea for months, an idea that will solve a problem or make a current process even better. Your innovative idea is ready for the next step, and you, in turn, are prepared to begin your tech startup. Building a company can be stressful and exhausting, but also exhilarating and rewarding. As you begin your product launch, keep these financial tips in mind when starting out.

Consider your funding
Determine how much funding you can use from your personal accounts to jumpstart your business. By investing some of your own money into your company, you show good faith in your business plan and product. This method is appealing to investors because it shows you have a long-term commitment to the company. Next, determine how much you will need from other sources and what those other sources should be. Potential options of funding in addition to traditional bank loans are venture capitalists, angel investors, government grants, and support from business incubators.

Determine your budget
An essential step of starting up is concluding how much funding you need to get started. Establishing a realistic budget is crucial. It can make the difference between having a successful business or joining the 50 percent of small businesses that fail in the first four years. The hiring of employees, leasing office space or lab space, purchasing office equipment, paying for insurance (health and liability) and providing yourself a salary are all items that need to be included in your budget.

Unanticipated extra costs occur from time to time, so overestimate your expenses. Underestimating expenses can sink your startup. Ensure your business is solvent by preparing your budget for more. Additionally, keep in mind different types of expenses, and budget accordingly. For example, you may have one-time costs and on-going costs or fixed costs and variable costs.

Cash flow
According to a U.S. Bank Study, 82 percent of businesses that fail do so because of cash flow problems. Managing your cash flow is crucial to success. Without positive cash flow, you are not able to pay your employees, rent, or taxes. Having profits does not necessarily mean you have positive cash flow. Keep ongoing cash flow work sheets to ensure you have the cash you need to continue on a successful path.

Managing for life
As mentioned earlier, make sure you pay yourself something. It does not have to be a big salary in the beginning, but you need to eat. Additionally, you need to save for emergencies. An old rule of thumb states that an emergency fund should consist of three to six months' worth of expenses. As a result, an emergency fund can make the months where business is slow, or between projects, more sustainable.

Meanwhile, it is a good idea to separate your personal and business banking accounts. Doing so will allow you to stay more organized and help tracking and managing expenses easier. Additionally, separate accounts may be beneficial when paying taxes. Consult a tax professional for additional guidance on taxes. Finally, do not forget to save for your retirement. While it is important to focus on your new business, do not neglect to take care of your personal financial health.

With proper planning and continued financial monitoring, starting your own tech business can be done well and bring years of career satisfaction.

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Joseph Radzwill is senior vice president and a financial adviser with the wealth management division of Morgan Stanley in Houston.

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Houston universities climb the ranks on annual list of most patents issued

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The University of Houston and Rice University have claimed spots on the National Academy of Inventor's Top 100 U.S. Universities Granted Utility Patents.

The list is based on data obtained from the U.S. Patent and Trademark Office and ranks U.S. academic institutions that are advancing innovation by the number of utility patents issued in the prior year.

Utility patents are among the world’s most valuable assets because they give inventors exclusive commercial rights to produce and use their technology. The universities ranked on the list collectively hold nearly 6,500 patents.

“In the ever-evolving innovation landscape, it is imperative that the U.S. is remaining competitive and at the forefront of today’s emerging research and technologies,” Paul R. Sanberg, president of the NAI, said in a news release. “Ensuring the security of intellectual property through patenting is a crucial component to this and allows those innovations to be effectively moved to market, where they can create valuable societal and economic impact. The Top 100 U.S. list celebrates U.S. universities and their inventive staff and faculty for their dedication in ensuring their innovations and IP are protected.”

The University of Houston System came in at No. 62 with 34 patents, and Rice University claimed the No. 68 spot with 30 patents.

Both universities climbed up the rankings this year. Last year, UH was ranked No. 63 with 27 patents. Rice climbed an impressive 26 spots this year, after ranking No. 94 with 14 patents issued in 2023.

“Granted U.S. utility patents can tremendously help in commercializing the technologies covered by such patents by attracting industry investment and commercial partners on a global level,” Neha Malik, assistant director for intellectual property management in Rice's Office of Technology Transfer, said in a release. “Advancing in this list memorializes Rice’s commitment to support research programs of Rice faculty by generating a path for the university to bring its research to the marketplace.”

Other Texas universities on the list include:

  • No. 3 University of Texas System (234 patents)
  • No. 35 The Texas A&M System (61 patents)
  • No. 73 Texas Tech University System (25 patents)
  • No. 80 Baylor University (20 patents)

The University of California (540 patents) claimed the No. 1 spot again this year, followed by the Massachusetts Institute of Technology (295 patents), which also placed second for 2024.

First large-scale affordable housing project of 3D-printed homes rises in Houston

Building Blocks

What’s being promoted as the world’s first large-scale affordable housing development built using 3D technology is taking shape in Houston.

Houston-based 3D construction company HiveASMBLD has teamed up with Houston-based Cole Klein Builders and the City of Houston on the Zuri Gardens project. Located near Hobby Airport on Martindale Road, the first 3D-printed home at Zuri Gardens is set to be completed in October.

“Zuri Gardens was born from the frustration of watching hardworking families get priced out of safe, resilient housing. We knew there had to be a better way — and with this project, we’re proving that there is,” says Vanessa Cole, co-founder of Cole Klein Builders.

“By combining visionary design, advanced construction technology, and powerful partnerships, we’re building more than just homes — we’re creating a blueprint for the future of equitable homeownership in Houston and beyond.”

The development is being created for households earning up to 120 percent of the median income in the Houston metro area. For a four-member household in the Houston area, the 120 percent limit in 2025 is $121,300, as set by the U.S. Department of Housing and Urban Development (HUD).

The 13-acre Zuri Gardens development will feature 80 energy-efficient homes averaging 1,360 square feet. Prices will be in the mid to high $200s. The homes will qualify for up to $125,000 in down payment assistance from the City of Houston.

HiveASMBLD will print two different home designs, each with two-bedroom and two-and-a-half bathroom configurations, along with an office/flex space and a covered patio.

Zuri Gardens home model Houston Courtesy rendering

“The community we envision for Zuri Gardens is modern, safe, and one that residents will be proud to call home. When completed using HiveASMBLD’s innovative technology, this 3D-printed multifamily community will exemplify the future of residential affordable living,” says Timothy Lankau, founder and co-CEO of HiveASMBLD.

Developments like Zuri Gardens are popping up around the country.

“3D-printed homes are revolutionizing the construction industry by making home builds faster, cheaper, and more sustainable,” according to The Zebra, an Austin-based insurance marketplace. “In less than 24 hours, 3D printers can print the foundation and walls for a small home at a fraction of the cost of typical construction.”

U.S. News & World Report explains that unlike a traditional home, a 3D-printed home is printed in place, “just like you’d print a knickknack on your home 3D printer. Layer by layer, proprietary concrete blends are used to build the wall systems of the home in any type of design that a builder can imagine.”

Texas is home to several trailblazing 3D-printed projects.

In the U.S., the first 3D-printed home was built in 2018 in Austin, and the first 3D-printed multistory home was completed in 2023 in Harris County’s Spring Branch neighborhood. Meanwhile, the world’s largest neighborhood of 3D-printed homes is located in the Austin suburb of Georgetown.

Grand View Research predicts the global market for 3D-printed construction will approach $4.2 billion by 2030.

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This article originally appeared on CultureMap.com.

Houston tech company secures $450M NASA contract

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NASA’s Johnson Space Center awarded Houston-based aerospace technology and engineering services company Barrios Technology the Mission Technical Integration Contract (MTIC).

The two-year contract is worth $450 million and will begin Oct. 1, 2025.

Barrios will provide technical and management support to some of NASA’s human spaceflight programs, which include the Orion and Gateway programs, the International Space Station (ISS) and possibly more human spaceflight initiatives.

The contract represents a continuation of Barrios’ Human Space Flight Technical Integration Contract (HSFTIC), which has been in effect since 2020.

“We are incredibly proud to have been selected by NASA to continue working side by side with them in shaping the future of human space exploration,” Kelly Page, president of Barrios Technology, said in a news release.

The contract also includes support for program, business, configuration and data management, information technology, systems engineering and integration, mission integration, safety and mission assurance, and operations according to Barrios.

Barrios will be supported by subcontractors ARES Technical Services Corp., Booz Allen Hamilton, Intuitive Machines, Summit Technologies & Solutions, and TechTrans International (TTI).

“This award is a testament to the passion, hard work, and extraordinary value that our Barrios family brings every single day,” Page added in the release. “This is not just another contract award—it is the continuation of a generational commitment to our NASA customers and their critical missions.”

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