I’ve been getting a bunch of holiday-themed press info lately: holiday spending, holiday hassles, holiday tips. Obviously I need to share it with readers.
Here’s a time-sensitive example: Erin Chase of the Grocery Budget Makeover website suggests that you might not want to shop for your Thanksgiving meal just yet.
Sure, all those displays look tempting and “sale” prices are being trumpeted. But they might not be the best prices of the season.
“(Products) will be cheapest the week of Thanksgiving,” says Chase, a mom of four who’s been in the bargainista camp for years.
But that means different things in different markets. If your store’s sales cycle is Wednesday-Tuesday, the best deals are the week before Thanksgiving (Nov. 16-22). If it’s Sunday-Saturday, then the best deals will be available starting Nov. 20.
Don’t want to deal with bustling aisles and long lines? Neither does she. (Did I mention she has four kids?) However, Chase wants “to save money more than I care about the crowds.” She does recommend going early in the morning or extremely late at night.
“My motto is ‘every penny counts,’ even with a holiday feast,” Chase says.
(Hey, so is mine!)
Hot holiday gifts
Seems that parents want gaming systems more than their teenagers do. At least that’s what the Ebates Holiday 2016 survey says. Weirder still, those teens would rather have sweets than Snapchat Spectacles, the alleged “it” gift of the season.
Regarding those game systems: 28 percent of moms and dads wanted them more than they wanted new iPhones, while 34 percent of teens opted for iPhones over consoles. That’s not really surprising, given how smartphones have changed the way adolescents communicate. Still, 47 percent of teens also hope for new laptops or tablets this year; so do 44 percent of their parents.
And the number-one category expected to be bought during Thanksgiving weekend? Clothing and shoes. More than six in 10 (61 percent) of respondents say they’ll shop in the garment/footwear sections. Personally, I don’t think it’s really Christmas unless someone gives you socks or underwear.
Avoiding holiday overspending
I’ve written in the past about my holiday trigger: Christmas carols. As soon as I hear songs that I sang in the junior choir at the Fairton Methodist Church, I turn into a lake of sentimentality and start splashing around, trying to reach my wallet. That’s why I carry a list on Black Friday and mostly stay out of the stores.
The GO Banking Rates website mentions music as one of the “10 ways retailers trick you into spending more during the holidays.” retail scams that target holiday shoppers.” From strategic shelf placement to pre-holiday price markups, retail specialists know what works. That’s how stores stay in business. But if you want to stay on budget, read this article and figure out how not to buy what they’re subliminally selling.
Speaking of overspending: Consumers surveyed by Experian report shelling out an average of $288 on unexpected holiday expenses. These include postage, gift-wrapping products, holiday cards and hostess gifts. That’s why more than half (56 percent) admitted to spending too much and almost as many (55 percent) feel financially stressed at this time of year.
An obvious answer is to create a holiday budget – one that includes all aspects of spending. You may not hit all the points at first, but each time you get surprised by a new expense (gift draw at work, that $10 you dropped in the Salvation Army kettle, buying more takeout than usual), write it down and add it to the budget list for next year.
Neglecting to plan can turn the holiday into a headache: More than six in 10 respondents (62 percent) said that not having a budget is “a main detractor” from enjoying their celebrations.
“What consumers don’t realize is that after the merriment of the holidays they won’t be having such a happy new year, because they will be saddled with debt,” says Rod Griffin, director of public education at Experian.
“With a little bit of planning, consumers can save themselves a lot of stress and put themselves in a better financial position in 2017.”
Related reading:
- Do we need a little less Christmas?
- Christmas stress: Wrap up guilt and simplify
- I’m dreaming of a stripped-down Christmas
I’ve already started my Christmas shopping…in fact, except for DH and the DK’s (dear kids) I expect to be done by Thanksgiving. I’ve been shopping clearance sales, combining coupons with clearance prices, finding free shipping codes, etc. Sometimes I think I’m a little insane.
I think you’re very sane indeed. Good for you!
Almost all of my gifting this year will be paid for with rewards programs. I’ve cashed in for gift cards and Amazon cards; some will be given outright and others will be used to shop for presents.
I’ve used some credit from the secondhand bookstore to buy calendars and books. Brought a few things home from the Financial Blogger Conference (stocking stuffers, small gifts like T-shirts and hats), and am planning to hit Black Friday at Walgreens for more stocking stuffers and things to drop off at the women’s shelter.
The only cash* I’ll need to spend is for a donation to my family’s church, made in my dad and stepmother’s name; they specifically asked for this in lieu of a gift. Works for me!
Hmmm…I feel a post coming on. “The exact cash amount I spent for gifts for 12 people.”
Thanks for reading, and for inspiring.
*Will need to spend a bit at Walgreens but most or all of their BF specials are free-after-rebate items. For the amount I *do* need to spend, I’ll be using a Walgreens gift card that I got for 35 percent off (discount plus a $5 credit for referring someone else to the site). This will indeed be an affordable holiday.
I have been very ill on and off for the last year, with computer problems, connection problems, and just plain sick. I have not done any of the money-maker extras. However, I did get two $50 leather wallets from a high-end store for only $5 around the first of the year. By buying deep discount items, I only have three gifts to go. Since two are for son and dil, I may have only two gifts to go. I buy for three children, dil, and four grandchildren. So far, I have spent about $20 and expect to spend no more than that to finish my shopping.
As for groceries, I never buy the first sale prices unless I know that is going to be rock bottom prices. Actually, I don’t need to buy anything to have a full dinner. There is a frozen turkey, frozen and canned cranberry sauce and canned pumpkin for pie. The things I buy this year will be stock up for next year.
I really appreciate your site!
For years, because of work schedules at a hospital, we celebrated Thanksgiving on the weekend. Our local store put frozen turkeys at almost giveaway prices very late on Wed – so that’s when I bought. The other fixings, like a salad, onions, green beans, pumpkin, green tomato mincemeat I made from things I grew. Rolls and piecrust made from scratch. I think the only things I bought were fresh cranberries, nuts & maybe some spices.
Christmas spending. Now we only buy for 3 grandkids at about $25 each and an ornament for 7 people at about $5 each. I have always managed to find sales and free shipping altho the free shipping is getting harder to find. This year the gifts have already been purchased at Amazon from Lightening Deals and the one that had to be shipped was also a Prime product, so shipped for free.
Boy! Am I glad I don’t have to go out with the crowds 🙂
Sounds like you’ve got things right the way you want them. Kudos!
I will be spending very little this year because even though I just got a raise at my part-time job, I’m still in survival mode. I’ll mail out Christmas cards (bought at %50 off in January) like I always do, but I really don’t think I’ll buy gifts this year. All of my friends and relatives understand my situation, so I don’t think anyone will be terribly disappointed. I also won’t be cooking unless someone wants me to bring a side dish or dessert.
We just bought our first gift, a Lego set for our son. We prefer not to buy too far in advance simply because wants and needs change, and we don’t want to give something that can’t easily be returned.
Legos tend to hold their amusement value. 😉 But yes, I agree that if you buy, say, a Hello Kitty playset only to find that your 5-year-old niece has moved on to Wonder Woman, you’ve got to return it. Or play with it.