Holiday Shopping Tips
While you are making your holiday shopping rounds, do your budget a favor and keep in mind that it is better to give than to receive. When they holidays come around keep this in mind:
- While 53% of the average shopper intends to spend for holiday gifts is $800, 30% will spend $1000 and 17% will spend Under $300. Of those, 55% of shoppers surveyed said they intend to take advantage of the sales and promotions to buy a little something for themselves spending on average $140.00.
- That means 16% of what we are spending for the holidays is being spent on ourselves.
- Much of the spending directed at ourselves will be impulsive. Just make sure before you buy that the item is a need and not a want. Even at a deep discount, if the item is not a necessity, it’s no bargain for your budget.
To reduce the amount of impulse purchases, follow Santa’s lead: Make a list and check it twice!
- Do an internet search of the words “shopping without a list” and you will see that every advisor and expert in every field will tell you never to do this. It doesn’t matter if it’s groceries, clothes, office supplies, or heavy equipment. Make a list!
- Your list should contain the “who, what, where and how” much of gift buying.
- Review the names on your list to make certain it represents those you want to include.
- Look at the amount you have budgeted to cover all of your holiday shopping. Assign amounts to names (Aunt Betty) or groups (co-workers) and stick to the budgeted amount.
- Make notes about possible ideas so that you are not going to the stores with a blank slate.
- Take advantage of the internet that allow you to comparison shop.
- Shop online so that you are not bombarded by “things” that you would like to buy for yourself.
A fun and easy way to spend less on gifts for the holidays is to consider ‘homemade” gifts.
- Bake cookies, fudge or chocolate bark and put them in a festive container.
- Frame photos for loved ones that live far away.
- DIY soaps, bath salts or sugar body scrubs
- Press flowers in between glass for a decorative gift.
- Create your own gift vouchers for “favors” like snow shoveling, dog walking, baby sitting, clean the house, leaf raking, dinner and a movie etc….
It is not about how much you spend, it is about the thought put into the gift. It is hard nowadays to get caught up in all the technology and the fast moving trends but those come and go and what you do for people or the time spent with them is what they will remember and not the electronic gadget or the new shoes.
Give responsibly! Your wallet will love you for it.