Monthly Article
HAPPY HOLIDAYS SPENDING
By Lynda Gotham-Kramer
The Money Lady
Events or holidays should be a pleasant time to get into the spirit of feeling joy and of giving to others, but when the last bell has rung, financial ramification can cause problems that will last for years. The financially wise sit down before an event with paper and pencil and do some calculating.
- Set a dollar limit that you can comfortably spend, after all the necessities are paid.
- Think moderation in the list of special people you are going to purchase presents for as well as their cost.
- Prioritize your gift list.
- For couples buy one gift that both people will enjoy
- Shop around and compare prices. If you spend an hour saving $20 dollars and if you are normally paid $10-15 an hour on your job, then you are ahead.
- Remember, it’s the thought that counts, not the size or cost. Some of the big flashy gifts have a short usable life. Be creative and give something useful such as a laundry basket filled with vinegar, baking soda, nails picture, frame hocks, etc. for a house warming or newly weds. A box filled with little things from a dollar store can entertain a child for hours. Is Mom into gardening, a basket filled with potting soil, pots, gloves, etc? Put a little time and love instead of money into your gift giving.
You need to know when a sale is really a bargain, and how to negotiate for big-ticket items. It’s a challenge not to make the ultimate mistake of the bargain hunter; to buy something you don’t need just because it is a good deal and in your enthusiasm for a bargain don’t confuse a low price tag with a good value.
Negotiate on everything; you would not pay the sticker price for a car, so how about furniture, appliances and even services? You have nothing to loose by asking. You can get discounts from many department or chain stores just for the asking. Request to speak to the manager of the department.
Do you really want to spend the next 30 years paying off this year’s holiday gift giving, because you unfortunately decided to charge it? Giving starts at home, give yourself a positive financial future.
You can read more money saving and debt eliminating techniques in my Smart Money Guide.
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