Holiday Shopping Tips
It’s Christmas time ladies! Let’s be honest, holiday shopping can be a financial nightmare, but it doesn’t have to be! Check out these tips for having a financially safe, smart, and happy holiday shopping experience:
1. Make a list and a budget.
Before you head out (or online) for your holiday shopping, make a list and establish a budget. The best way to prevent yourself from splurging is to be intentional about your shopping and commit to staying within the budget you’ve set for yourself.
2. Use cash instead of debit/credit cards.
One of my favorite ways to make sure I stay within my budget is to spend with cash only. Once you’ve set your budget, head to the bank and withdraw that amount in cash. Try leaving your credit and debit cards at home if you can. This is another sure way to avoid last-minute splurging and going over your budget.
3. If you do use credit cards, use them wisely.
My rule of thumb for using a credit card for holiday shopping is don’t buy items that will take you more than six months to pay off. Also while you’re out shopping, don’t let the store clerks trick you into opening a new account for an additional discount. In the long run, this is more likely to negatively impact your credit and cause you to accumulate more debt. Remember the 30% rule, never use more than 30% of your credit limit. Anything over 30% negatively impacts your credit score.
4. Don’t spend to impress. Spend to bless.
Do not use money as a status symbol, to compete and compare with others. Do not be influenced by peer pressure to buy expensive gifts that are not within your budget, because your best friend is bragging about all the expensive gifts she is buying for her loved ones. You don’t know how much debt she is in and/or what her financial situation is. Remember, we are to have dominion over our spending, not the other way around.
In a perfect world, we’d be able to use unlimited funds to shower all our loved ones with the most lavish and expensive gifts. But that’s not the world we live in. All of us, though we hate to admit it, have limited amounts of money. It’s so tempting to put things on credit, that you cannot afford to buy with cash, but there will be a price to pay up the road. Remember, a true friend or family member will appreciate any gift that comes from the heart, no matter the price.
5. Compare prices at competitive stores.
Don’t let those Christmas commercials fool you. Though stores love to use the infamous tag-line, “You won’t find this deal anywhere else!” chances are, you actually can. Invest some time into cross-checking prices for the items you’re interested in buying.
6. It’s okay to walk away.
It’s also okay to walk away from a purchase you’re unsure of so you can take some time to think about it and do your research. It could save you a lot of headaches and money in the long run!
7. Search online for store coupons.
Speaking of saving money, never shop without coupons! Some people avoid couponing because of the hassle of finding them, cutting them out, organizing them in your wallet, etc. The good news is that there are so many websites and apps you can use to quickly search for and redeem online coupons in stores. Two of my favorites are Groupon and the Shopular App.
8. Pay attention to return policies.
Always ask about return policies when you’re out shopping. You don’t want to get stuck with something you won’t be able to return or exchange if it turns out to be the wrong fit.
9. Don’t worry about your gifts being “too basic.”
Again, a true friend or family member will appreciate any gift that comes from the heart, no matter the price. That being said, $10-$25 gift cards to shops and restaurants make great gifts. They can be given to multiple people on your gift list and are the perfect gifts for staying within your budget. Don’t be afraid to simplify or give multiple people the same gift. One of the things that I have found helpful is to go to Costco or Sam’s Club and buy packs of multiple gift cards at discounted prices, unbundle them, and give them out as individual gift cards. You can save a lot of money doing this.
10. Don’t let the holidays stress you.
Lastly, don’t let the holidays stress you out! It’s all about planning, setting a budget, and shopping within it. If holiday shopping brings you a significant amount of stress, you may need to take a step back and remember what the Christmas season is all about: spreading love and holiday cheer to loved ones and those in need!
Finally, Enjoy your family and close friends, and find ways to be grateful and thankful for what God has given to you. Have a Happy Holiday!