Genevieve
Marquette
Clare
Jodi
Victoria
Michael
Think back to last January, when you opened up your latest credit card bill and felt overwhelmed by the massive amount you spent on Christmas gifts and other holiday expenses. It was pretty shocking, right? Well, take that feeling and feel it again prior to doing your Christmas shopping this year. It's easy to walk into a store with one product in mind and end up walking out with multiple bags of spontaneous purchases. Whether it's the effective marketing of the stores you visit, or your own personal craving – you are up against strong forces when you go shopping.
Take control of your finances this Christmas by planning ahead of time.
Prior to visiting any stores, grab a pen and paper and write out a simple budget. Figure out how much total money you have available for gifts this year. Write down the names of everyone you want to buy gifts for (the most important ones first, like family and close friends). Do a quick calculation on how much, according to your overall spending limit, you can spend on each person. If you're satisfied with that amount, that's great. If the number is too small, then either drop people from the bottom of the list, or stagger the amounts so that you're spending more on some people and less on others.
Once you have a final list of all the people you're buying gifts for and the amount you can spend on each gift, you're ready to go shopping.
On your way to the mall, stop by an ATM and withdraw the total amount of cash allotted for gift shopping. Using cash is key, as you are more careful with each purchase. Using cards – be they credit cards or check cards – makes purchases psychologically less painful, and thus easier to spend more than you planned. (Don't buy into those Visa commercials discouraging you from using cash. THEY JUST WANT YOUR MONEY! Visa is not looking out for your best financial interests.)
As you shop, know your limit. Shop carefully for each person on your list. Go from the top of your list down. And when the cash runs out, STOP! Appreciate the gifts you were able to buy and feel good about the fact that you didn't jump into a financial holiday hole.
Shop smart this Christmas with cash and a budget!
Reader Comments (Page 1 of 1)
1. I have to agree with this article, so many stores will go to great extremes to get you to buy more. But the biggest thing is to budget yourself, and try to find stuff on sale. I found a great site that has a ton of great deals, that are sure to fulfill your christmas shopping needs. The site is www.theshoppingnation.com I encourage everyone to go and give it a look. I'm sure you won't regret it, and I'm going to bet your pocket book will thank you too.
Happy Holidays
Posted at 10:03PM on Dec 9th 2007 by Leonard
2. Have yourself a very merry Christmas. Have yourself a good old time. But remember the kids who have nothing, while your drinking your berry wine.
Posted at 10:38AM on Dec 11th 2007 by Shockly Smiles
3. Especially for young adults out there who have just gotten into the career world, send a friendly free e-card rather than purchase a paper card. It wil save some money, save the earth, and put a smile on mom and dad's faces. :D
Posted at 1:40PM on Dec 12th 2007 by Alyssa
4. NEVER buy HAIER electronics! NEVER! Bought two TVs last year. Were one year old on Nov 14th, 2007. One has NO color as of Dec. 2, 2007. Bought from Boscov's. Customer Service " I am surprised they worked that long. Your wanrranty ran out exactly one year from purchse (Bourght as holiday gifts) abd HAIER changes its policies every week as well as there phone number. There lat number was800*****." Guess what? It is disconnected.
HAIER is Chinese--Surprise, Surprise.
OUr Warrior in Chief and Darth Vader nor our bought and paid for Congress won't upset our wonderful Chinese trading Prtners. SO Do it the American way. Boycatt ALL \CHINESE goods. I bet you wont't.
AH I'll have to be othe only one for a while, but I may pay more but I will get a decent product that might last and not kill me or children.
Posted at 1:45PM on Dec 17th 2007 by Judi
5. sorry for you all no christmas this year...insurance co upped our insurance after hurrican katrina and the gas co is chargins up 90.00 a month to run a hot water heater...guess everyone loses
Posted at 10:54AM on Dec 18th 2007 by michele
6. For those of you who are avid campers, the recreational vehicle business slows down in the Northeast. This tends to make dealers very negotiable, and the smart shopper can get a great deal on a travel trailer, motor home or fifth wheel.
Posted at 3:58PM on Dec 18th 2007 by Charlie
7. shop the day after christmas so for the next year you can relax knowing that you have all the gifts you need for everyone and plus you might have extra for the unexpected guests and all you have to do is wrap them.
Posted at 8:47PM on Dec 18th 2007 by aneesa
8. Merry Christmas everyone!
Dear Judi,
Quit your whining about the Chinese and learn to express yourself properly. I had no idea what you were yapping about other than "BoYCOTT ALL CHINESE GOODS!"
Posted at 7:17PM on Dec 21st 2007 by bella
9. One of the best ways for me to cease spending so much money is too allow someone to shop on my behalf with an agreed upon budget. That's what I did this year by hiring a gittel. I'm using a gittel to do my exchanges and returns tomorrow too. I hate crowds and would much rather spend quality time at home this holiday week.
Posted at 11:27PM on Dec 25th 2007 by hpy12day
10. yes, smart shopping to all. hope after Christmas you wont complain for any over due credit card.
Posted at 6:59PM on Jan 11th 2008 by sophia
11. Hi everybody,
Can somebody suggest me a better online shopping website where I can purchase Christmas Ornaments & Personalized Gifts at reasonable price. However, I searched the web and find the resources where the prices are compartively low.
Please suggest if you have some other better resources.
Carol Lee
Posted at 6:28AM on Jan 12th 2008 by Carol Lee
12. For everyone out there... Make your holiday shopping online or holiday markets, young designer markets and etc... Big department stores slash their prices a lot but they will also push not trendy items to get rid of them for their shopping season.... Go to young designers market if you are in New York. I think they are in mulberry stree. Colombus circle market is great too. You can get great t-shirts from there... Of course my online favorite www.airlockedclothing.com or couture candy for fashionable clothes and gift items..
Posted at 12:28PM on Jul 23rd 2008 by Sarah Trip