WSVN — It’s the most expensive time of the year, but shoppers can avoid the sting of that holiday debt in the new year. 7’s Lynn Martinez lays out your holiday spending survival guide in tonight’s edition of Dollars and Sense.
On your mark, get set, shop! The holiday spending spree is in full swing, which means big trouble for your bank account.
Deborah Searcy: “In 2013, the average American spent $730 on holiday shopping, and that all has to get paid in January.”
FAU Management Professor Dr. Deborah Searcy says the key to not over-spending is going into the shopping season with a plan.
Her first tip is to set small budgets for each gift instead of one big budget.
Deborah Searcy: “Rather than saying, ‘I’m only going to spend $500 on gifts this year,’ say ‘I’m going to spend $50 on my brother, and I’m going to spend $150 on my spouse.”
The easiest way to help your budget survive is gift cards. You spend exactly what you said you would for each gift.
If gift cards are too impersonal, another survival strategy is shopping early for deals but make sure you stick to your list.
Deborah Searcy: “Plan ahead so you’re able to take advantage of the cost savings but know that once you’ve bought a gift for someone, you’ve bought a gift for someone, and you need to stick to it.”
Another great way to save is to make your own gifts. We’ve all been surprised by a gift from someone you weren’t expecting.
Buying last-minute gifts can get expensive so plan ahead.
Deborah Searcy: “I would suggest having a generic gift in the trunk of your car, like a bottle of wine or maybe sort of a generic serving platter or a tote bag.”
If you do your best shopping maneuvers from your desk, be sure to take advantage of free shipping day on Dec. 18. You get instant savings, and you can have it shipped directly to the recipient’s door.
Finally, always remember it’s the thought that counts.
Deborah Searcy: “The act of giving a present shows that you care. You don’t have to buy the most expensive thing or go into debt just to show that you love someone.”
For More Information:
http://www.freeshippingday.com/