Keep stress, spending in check this holiday season
Sara Gilbert/The Coloradoan (Fort Collins, CO)
19 November 2011

It is one week until the official start of the 2011 holiday shopping season.

Retailers will be out of the chutes early this year with some stores opening on Thanksgiving or starting their Black Friday sales in the wee hours of Black Friday.

According to the National Retailer's Federation revised forecast, the average shopper will spend $704.18 this holiday season which is down $14 from last year.

Here are some tips to help you keep your spending in check and your financial stress to a minimum during the holiday season.

» Do make a list. Plan how much you will spend on each person on your list and stick to it.

» Do plan for all of the extras that come your way during the season; items such as wrapping paper, travel, cards, postage, food, decorations or party clothing. How much will you spend for these items that we often forget to plan for?

» Do decide whether you will use your debit card, your credit card or cash. Leave credit cards you don't plan to use at home.

» Do think about homemade gifts that come from the heart. A gift of your time may be more valuable than anything you buy in a store.

» Do keep your receipts with you and not in the bag which will help you track your spending. Plus if you lose one of your shopping bags, a thief will have a harder time returning your merchandise for cash if they don't have your receipt.

» Do search for "coupon codes" if shopping online. Search Google for the store name and coupon code to find that store's special holiday offerings before placing your order online.

» Do plan for next year by starting to save in January for Holiday Season 2012.

» Don't get caught up by the excitement of the sales on Black Friday. The big screen TV or new computer might be a good deal, but not if you didn't intend to buy one in the first place.

» Don't leave your credit or debit card on the sales counter while you sign your receipt. Small phone cameras can now get a lot of private information from you now if you are unaware and long lines are nearby.

» Don't use your credit card if you don't have a way to pay it off within one to three months of the holiday. You don't want to be paying for this year's gifts still when next year's season rolls around again.

» Don't wait until the last minute which can cause stress and a greater potential to overspend if you can't find the right gifts.

» Don't try to keep it "even" if you are buying gifts for several children. Kids may be more interested in the number of the gifts and not the exact price of an item. Don't get trapped into the notion that you spent more on one than the other as this could cause you to buy more and exceed your spending limits.

» Don't forget that most of our happiest holiday moments may be free. Do you even remember what you received for gifts last Christmas? Probably most of us cannot. Most likely, our fondest holiday memories are not of gifts, but of the seasonal activities such as family gatherings, decorating trees, or kids sitting on Santa's lap. These are the times of the season that don't cost us much of anything at all so savor them.

Sara Gilbert is the Colorado group manager for the local GreenPath (formerly Consumer Credit Counseling Service), 1247 Riverside Ave., Fort Collins. Call her at (970) 229-0695 or send email to sgilbert@greenpath.com.