6 tips for smarter holiday shopping
Posted
Nov 25 2008, 11:37 AM
by
Karen Datko
Rating:
This guest post comes from Abigail Perry at I Pick Up Pennies.
I hear a lot of predictions for dismal holiday shopping this year, but I'm skeptical. Too many of them are based on polls -- and polls speak to people's intentions, not actions.
If the same pollsters had been doing rounds last New Year's Eve, they'd have confidently predicted that we'd all be much thinner by now.
Yes, I know that we've already seen shrinking retail sales. But as the holiday shopping season opens its floodgates, I feel certain we'll see some good intentions falter, for three reasons:
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It's for the kids! People can deprive themselves of a lot of things -- but what do you mean we can't afford to get the kids the latest hot toys? What kind of parents would that make us?
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Frugal burnout. We're already in the midst of this economic/credit/housing crisis. People get weary of deprivation. That weariness turns into indignation: We should have nice things once in a while. Or maybe resignation: The debt will be there forever anyway; might as well have a good Christmas.
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Poor math skills. Some people who shop the sales will get great prices -- but they'll fail to add up the total until it's too late.
Keep it in check
Retailers are crafty -- they have to be to survive, even in a good economy. They rolled out a lot of sales a couple of weeks before Black Friday. Quite a few Americans have already been lured into holiday shopping.
And even assuming that people buy only advertised specials and not a single item more, time is on the retailers' side. They can rely on our goldfish-like powers of recall. As people read the Black Friday ads, or even the ads in the second week of December, will they remember what they've already bought?
Don't get me wrong: I'm as susceptible as anyone else to commercial/social/cultural pressures. That's why I've developed some strategies to keep from overbuying. They've kept me on the straight and narrow since the first pre-pre-Black Friday ads showed up.
Keep lists. I keep mine in code -- that is, my bad handwriting plus extreme abbreviations -- in case my husband, Tim, were to find it. Whenever I see something I'm tempted to buy for him, I go back to my list. Usually I'm surprised at how much I've already purchased -- not a lot, but some pretty good stuff.
Likewise, I've stashed away a couple gifts for my mom, which I keep forgetting about until I run across them. If not for my list, I might buy more -- and once bought, excess gifts are more likely to be given than returned.
Cost vs. value. Ironically, the great prices you find by buying early can ultimately be your undoing. You pay so little that you're tempted not to count these purchases as "major" gifts. For example, I got Tim something from a garage sale. Although it retails for a pretty decent chunk of money, I paid very little. But that doesn't mean I need to compensate by spending more somewhere else.
Sometimes I wonder if I'm being too cheap, because the majority of my gifts to him will come via MyPoints gift cards (see below). When you're regifting or using reward points, it's easy to feel that the present isn't as big or important. But remember: Nobody knows how much you paid. (Except my husband, once he reads this article.)
Know thy rewards programs. If you're a member of MyPoints, InboxDollars or any other rewards program, review the various store options both for redeeming and shopping.
If you have plenty of points to redeem from these programs, go through all your potential gift card options. You may come up with new ideas, or find a new low price with the help of your friend the (free) gift card.
Comparison-shop when buying technology. For safety's sake, assume that any technology that's really cheap on Black Friday will be the lowest-end product available. If you're wrong, you'll be pleasantly surprised. If you're right, this saves you from spending money on something that either needs upgrading or doesn't suit your needs at all.
While you're digesting turkey or Tofurky, peruse a tech-review site like CNET. These sites will also give you a chance to compare prices at various stores -- sometimes "sale" prices are really not that far off the regular ones.
Stop rationalizing. I can, and often do, rationalize just about anything. Add to that an active guilt complex and you've got a budget-buster just poised for action. Thus, whenever I find myself musing that maybe I could stretch my budget a little further for some cool doodad, I make sure to talk myself down.
Yes, it's depressing not to be able to get Tim everything his little heart desires, or even one-quarter of those things. But we agreed that we're not doing a big Christmas this year. And I know he'll love what I'm getting him.
Keep some perspective. Perhaps the biggest thing that I have to remind myself is this: He doesn't have any of these things yet. He'll be thrilled!
Sure, many people have wish lists. They might be mildly disappointed if some items don't show up. Mostly, they'll be excited about what they did get.
In other words: They can't miss what you don't buy.
We're not buying it
I'm not saying that everything will be business as usual this holiday season. As a nation we are spending less, buying fewer gadgets and luxuries, shopping generic brands, clipping coupons.
But Tim and I have found ourselves in the mall a few times lately and I've yet to see any tumbleweed blowing down the halls. What I do see -- on weekday afternoons, no less -- is plenty of people milling around, bags in hand.
Historically, we have an awfully short attention span even when we do have good intentions. Add to that the cool, flashy nature of the holidays, with pretty lights and plenty of sparkles and rampantly advertised consumerism, and Americans are like moths to the proverbial flame.
And this flame will burn. Remember that when you're tempted to take out that credit card and buy more than anyone really needs.
Other articles of interest at I Pick Up Pennies:
Some thoughts on frugal gift-giving
Save some money: De-clutter
Bring in, sell off, save up
