Holiday Shopping
Thanksgiving and Christmas are the two holidays I love the most. I enjoy getting together with family and friends to fellowship and exchange gifts. Giving presents is fun but shopping for them is more fun! Finding deals and sales (especially on “Black Friday” and “Cyber Monday”) are a shopper’s dream.
However, we can get caught up in a whirlwind of debt if we aren’t careful. Some people save during the year to shop holiday sales. Others wait until the holiday season to do their shopping. Whether you’re a “holiday prepper” or last-minute shopper, here are some tips to help you when buying your gifts.
Holiday Shopping Throughout the Year
You probably found the perfect gift for Christmas, but you found it in July on a clearance table. If you have the funds to get it, why wait until December? Did you get a bonus this year or a tax refund? You can use those funds to start your shopping early if you find good deals. For example, when manufacturers introduce new products, they offer discounts on the older models.
Gift Cards
This is one gift that causes mixed emotions. Some people love them, while others think they are impersonal. Gift cards are like cash, so be aware of possible scammers. I even use gift cards to shop for others. I can take the card I was given and purchase gifts without spending any additional money. It’s a win-win! Gift cards also incur fees and have expiration dates, so pay attention. The giver and recipient need to know the details for each card. The Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act states that a gift card cannot expire until at least five (5) years from the date it was activated. Also, the company issuing the card can’t charge an inactivity fee for one year, and the card must state its policy about the fee.
Re-Gifting
I had lunch with a couple of friends at a national chain restaurant. When the check came, they both pulled out a stack of restaurant gift cards they received to pay for everyone’s meal. They had received them as gifts but didn’t eat out enough to use them all. They could have re-gifted the cards to friends and family or donated them to shelters or other organizations. It’s okay to give a gift you received to someone who might need it more.
Use Your Rewards
There are so many credit cards that offer reward points. Even some checking and saving accounts offer points every time you make a purchase. You can redeem the points for gift cards or merchandise like electronics, jewelry, and clothing. In addition, some stores have their own reward system. One of my favorites is the warehouse membership club like Costco or Sam’s Club. They will send you an actual check to use in-store based on how much you spent throughout the year.
Uncommon Giving
So, you don’t want to give the usual wrapped gift. Instead, you want to do something a little different. Try these gift-giving ideas.
Giving While in Need
I read a story about a woman who asked her neighbors for some salt. Her son asked her why she asked the neighbors for salt when they had salt at home. The woman said, “They don’t have much money and sometimes ask us for things. So, I asked for something small that wouldn’t burden them. I want them to feel as if we needed them too. That way, it will be much easier for them to ask us for anything they need.”
There are those who want to give, but funds and resources are limited. Everyone wants to be valued and needed. If you’re a giver but have limited funds, try these gift-giving ideas.
These are just a few suggestions to help you with your holiday shopping. If you have any other suggestions with giving, let us know, and we will pass them along.