Buyer Beware

Posted by on November 27, 2009 in Musings | 0 comments

According to a survey by the National Retail Federation, the average American plans to spend $682.74 on holiday-related shopping this year. If the recent past is any indication, the majority will put these purchases on credit cards, and almost half will take up to six months to pay them off.

To help keep this a season to be jolly and not a season for folly, before you do any shopping, do this …

Prepare a Spending Plan. Individually list each expense (such as “Gift for Mom” or “Decorations”) and assign each a dollar limit.

Track every dollar spent and be accountable to your Spending Plan.

Use a cash envelope system to help you stick to your Spending Plan.

Leave credit cards at home.

Research purchases in advance.

Shop only with an Accountability Partner (not a Shopping Buddy).

If you are hungry, angry, lonely, or tired – HALT! These can trigger us to overspend or purchase impulsively.

(For more holiday tips, see Consider This.)

Leave a Reply

Your email address will not be published. Required fields are marked *

Share This