The clock is running and the pressure is on. With each passing day we are getting closer and closer to Christmas. If you are in the same boat as most Americans, you are watching rising expenses take more and more money from your wallet which leaves less and less money for your Christmas shopping.
I know some of you are thinking that it’s a bit early to be thinking about Christmas shopping in the middle of October. Normally, I would agree. But I’m not normal and I don’t have piles of folding money laying about. What I discovered years ago is that it makes sense to shop well in advance of Christmas to lessen the impact on my December budget.
First, You Need a Plan
A plan is a roadmap that lets you get exactly where you need to get, when you need to get there. You can miss turns on a map and get lost or you can find your way back to the path. It’s all in how you use and respect the map.
List who you are planning on buying gifts for. While you know these folks by their name, there is a finite number of these folks. Figure out how many people you are going to buy for, and then determine who much money you are planning to spend on each person.
|
G’Ma A |
$100 |
|
G’Pa B |
$100 |
|
G’Ma C |
$100 |
|
G’Pa D |
$100 |
|
Child A |
$400 |
|
Child B |
$400 |
|
Child C |
$400 |
|
Aunt A |
$80 |
|
Uncle B |
$80 |
|
Aunt C |
$80 |
|
Uncle D |
$80 |
|
Co-Worker A |
$40 |
|
Co-Worker B |
$40 |
|
Neighbor A |
$40 |
|
Neighbor B |
$40 |
|
Total |
$2,080 |
From this ridiculously simple example family, you can see how an extra $2,000 spent in one month might disrupt your budget or, if credit cards are used, turn into $3,000 as the purchases grow with interest.
By starting your shopping early, you can spread out the overall costs across three months (or more) and save money on interest from a credit card.
But What About Black Friday?
Yes, you are going to want to take advantage of Black Friday and Cyber Monday sales but you don’t want to bet the farm on them. As you begin your shopping, you want to decide what items will likely be on sale during those two major shopping days.
Your job as a shopper is to determine which items you are willing to gamble on a BF/CM discount. The other gamble you are taking is availability. While a sweet Black Friday or Cyber Monday deal might appear for the items you are after, the offer might be limited by a narrow window of time or limited quantity of the item in the sale. By planning ahead and securing the purchase in advance of the peak days of holiday shopping, you win by beating the rush, even if you don’t get the absolute best deal on the item.
Watch for Sales NOW!
Retailers know that people are looking for great deals outside of the Post-Thanksgiving shopping rush. Watch your favorite retailers and manufacturers for great deals on the stuff you are looking for now. The easiest way to do this is by subscribing to email and SMS messages and actually opening those emails or clicking on the text messages link. Take some time to study the deals and make a sound decision. I know we have had some smoking deals available this fall and I’ve seen many awesome deals on great outdoor gear from retailers we work with. You can’t sleep on those October and early November deals!
The Christmas season is about giving and recognizing the best gifts we have, our families. While giving gifts is one way to show love to our family and friends, don’t put yourself in a financial bind in the process. We all know when Christmas comes– following these tips will help you stay within your budget and soften the blow to your pocket book while still showing love to your family.