Christmas Shopping on a Budget

Ever had a Black Friday Hangover?  A Black Friday Hangover is when you overindulged on so many seemingly great deals that you ended up overspending and now dread the ensuing financial headache.  There are ways to enjoy Christmas shopping and avoid the hangover but you must be diligent and remember the magic word:  ”No”.
1.  Just say No to Store Credit Cards
How many times have you checked out and had a store clerk ask you if you wanted to save 10% by applying for a store credit card?  Believe me, they aren’t offering the store credit card as a favor to you.  Store credit cards often come with high interest rates which more than offset any savings you would get when you open the account.  In addition, store credit cards are usually the least convenient way to charge simply because they limit your purchases to one particular business.  My usual answer is “No, thanks.  I’m trying to quit”.  If the store clerk persists (some get bonuses based upon the number of new accounts they open), firmly tell them that your answer has not changed since the last time they asked you.
2.  Just say No to the Incredible Black Friday Deal
Don’t always fall for the store’s advertising.  A recent study revealed that 90% of this year’s “incredible deals” are the same prices they were last year.  In fact, the Wall Street Journal has declared Black Friday a “myth”.  Don’t be swayed by mail-in rebates (does anyone ever mail in a request for rebates?).  Don’t be swayed by package deals because the “throw-in” items may be of poor quality or not necessarily what you need or want.  Finally, use technology to verify if you are getting the best deal.  Google Shopper, Invisible Hand and RedLaser all allow you to search for better deals on items.
3.  Just say No to Overindulgence
The holidays are about more than just overindulging on rich food.  Christmas can leave many families broke because of overindulgent gift giving.  This year, avoid spending too much by setting a budget for each person on your gift list and do not stray from that budget even if the latest and greatest Christmas toy is not on the budget.  In addition, consider leaving the television off (…you can do it!).  Television ads are designed to create hype and interest about a product and sometimes the price tag is a financial disaster.  Exchange TV time for wonderful holiday experiences with loved ones like baking, visiting a less fortunate member of the community or creating hand-made gifts together.