Family Resource Management
Living for Today — Planning for Tomorrow
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Holiday Shopping Tips
The day after Thanksgiving is traditionally one of the biggest shopping days of the year. Are you ready? Take the time now to plan ahead with a shopping list and a budget. Then stick to your plan. Lack of planning can lead to overspending. Don’t let holiday debt and shopping regret creep up on you.
Shop with a list.
Make a list of every person who will receive a gift and how much you plan to spend on each. List ideas for items to buy for each person, keeping an open mind, especially for those who don’t have a specific wish list.
Budget your spending.
Add up what you expect to spend. Can that total fit into your budget? If not, find ways to make your gift list and budget match, keeping in mind that thoughtful gifts don’t have to be expensive.
Remember to include extra food, party clothes, holiday décor and postage in your holiday budget.
Compare prices.
Watch for store sales and search on the Internet, so you will know a good price when you see one. Spend some time with the Thanksgiving Day newspaper making your list and checking it twice to map out your shopping strategy if you plan to shop on the big day. Remember that prices may continue to decrease through Christmas, but so will selection.
Avoid credit.
Use cash as much as possible. Research has shown that consumers are willing to spend up to 30% more on items when using credit than when paying with cash. If you must use credit, keep a running total of how much you are charging. When you have reached your budget limit, stop spending! Make sure that the amount you have budgeted for Christmas credit can be paid off easily within a month or two and vow to use no more credit until the balances are paid off.
