I enjoyed reading last week’s tips for early holiday shopping. However, it seems to me that you left out other simple advice, such as making a shopping list before the actual “buys” commence. Did you? – Hannah Helpful
Dear Ms. Helpful: Indeed I did! Thanks for taking me to task for omitting strategies, and I’ll begin with your own suggestion. Thanks, also, for suggestions from certified financial guru Scott Alan Turner.
1. Make a shopping list. Write down the list of people for whom you plan to buy gifts. If it’s gotten longer through the years, consider trimming some names. Instead, bake cookies, make homemade hot chocolate or soup mix, and so forth; lots cheaper, these gifts are truly straight from the heart. And speaking of such, provide a gift certificate for a chauffeured ride to an elderly neighbor’s doctor appointment or a pretty manicure in your home for a favorite granddaughter.
2. Set a spending limit. Too often, we simply buy a bunch of presents without adding up the total spent beforehand. Try setting a total amount this year and divide the sum among the number of gifts/people. Teens enjoy movie tickets, for instance, and $10 for each – even adding popcorn and a drink – won’t break the bank. Perhaps a $50 surprise, along with certificates for a back rub and a favorite meal to delight your spouse.
3. Pay in cash. I’ve offered suggestions on this in the past and, certainly, this season is even more important. We shouldn’t forget the easiest way to go into debt is to use credit to buy gifts instead of cash. When using the former, it’s way too easy to lose track of how much we’ve spent. Plus, those extra, unnoticed fives and tens can come back to bite us in the you-know-what come the first of the month!