Holiday Shopping

ABC News recently posted an article on 20 Ways to Cut the Cost of Christmas. According to the article the majority of Americans started holiday shopping last month, however, one out of every 5 hasn't even started yet. This year holiday shoppers plan to spend an average of $750 on gifts, decorations an other holiday accoutrements, according to the National Retail Federation.

Wow!! $750.00 on gifts, decorations an other holiday accouterments. That is a lot of money especially for those of us with bills (which is almost everyone). Who wants to go into the New Year with credit card debt when they don't have to? My husband and I have a rule that we pay off any credit card balance prior to the start of the New Year, so spending $750.00 is clearly not an option for our home. 

Here are a few tips that I use regarding how to effectively holiday shop while staying within your financial comfort zone. 

1. Write You Own Rules- Be brave enough not to get caught up in the shopping frenzy."There are so many people out there who … just sort of get so caught up in the season that they haven't stopped and said, 'You know what? We're just going to sort of start from scratch and create our own holiday.'"

2. Plan and Budget-If you must buy, take a deep breath, then take some time to plan before you hit the stores and online deals. Start with a budget. 

3. Pay Cash- If you know that you've had trouble in (years) past, do a cash-only Christmas set a limit, take that money out of your credit union or bank, and when that (money's) gone, it's over."

4. Avoid the Guessing Game- Find out what your friends and family want. Websites like www.secretsanta.com and www.elfster.com make it easy to organize gift exchanges. If you have a large family (or want to exchange gifts at the office), try a fun gift swap with a price range to avoid buying pricey gifts for each person and going over your budget.

5. DIY- Flex your creative muscles with "Do It Yourself" gifts. Online tutorials abound for anything from crafty projects to food, i.e. Pinterest. 

6. Make a Photobook- Gather photos and make a photo book or calendar online. It's never been easier to take, edit, compile and present captured images.

7. Time is a Gift-Offer your time to help out with everyday chores like dog walking, shoveling snow and babysitting. Remember those homemade coupon books you made as a kid? They can still make great gifts for anyone in your family.

8. Potluck- Entertaining guests during the holidays can get costly. Have a potluck dinner where each person brings something they made.

9. Take a Vacation- Resorts and cruise ships usually have great deals during the holiday months with the exception to a few black out dates. 

10. Save Credit Card Points- Using credit cards has its advantages -- and if you have been using them throughout the year, make sure they are low-cost cards that offer rewards points. One way to save money is to use up these accumulated points to buy gifts for the holiday season.

11. Give the Same Gift to People-  If you regularly give to the people who help you run your life better -- your cleaning professionals, doorman, plumber - give them a useful gift to show your appreciation while you save money. Also, if you know your friends have similar taste and there is a great gift set available why not grab 2? 

12. Send out Christmas Cards or Ecards- Ecards are an inexpensive way to save for the holidays without having to pay for postage. A lot of companies offer great deals throughout the holiday season on ecards such as paperlesspost. For those of you interested in sending traditional family Christmas cards stores like Sams Club offer great deals starting at $10 for 30 cards as well as on-going promotions. 

XO

Chanita