Ellen PhillipsQ: I plan to start my holiday shopping the week before Thanksgiving to take advantage of early holiday sales. What advice can you offer to help me stick to my budget?
– Geraldine Gifter
A: Dear Ms. Gifter: As I’m sure you know, gift-giving can cause havoc if a shopper indulges too much – especially on impulse – and goes way over an allotted goal.
Before setting out, make a detailed list of recipients’ names, their gifts, and the amount to spend on each. If you plan to buy Aunt Lucybelle a scarf, be sure to set a price on paper, such as $20. This way, even if you see a big sale advertising two scarves for $49.95, you won’t be as likely to pop out your credit card and spend more than twice your planned amount.
By the way, the list is a good weaning point before hitting the mall. Once you’ve written all the names, strike through as many as possible. Must you really buy that Hanukkah gift for Great Uncle Bertram and his fifth wife? And what about that Wine of the Month subscription idea for your sister? Rather than overspending on 12 mediocre bottles, why not research a couple of really special ones?