9 tips for last-minute shoppers

With so many consumers delaying their shopping until just before Christmas, it’s especially important to stay focused, so you don’t stress out or go overboard. As of Dec. 7, only 56 percent of Americans surveyed in our national Holiday Poll had even begun to shop, while another 44 percent will be hitting the malls in the week between Christmas and New Years.

Here’s some advice to keep you on track:

1

Don’t panic.

This year, we’ve seen unprecedented price-cutting and perks like free- or reduced-price shipping, buy-one-get one free deals, and flat percentage discounts off purchases of a specific dollar amount. There’s no reason to believe the wheeling and dealing is going to end any time soon. Today’s bargains are likely to be here tomorrow. Many cash-strapped Americans we surveyed, in fact, plan to wait until after Christmas to buy big-ticket items like HD television sets because they think prices will drop further. If inventories remain large, the deals might be sweeter down the road.

2

Stick to your budget.

As the holiday looms closer, many of us become bundles of anxiety. Our palms start to sweat, our breathing quickens, and we get queasy. I call it restless shopper syndrome, and it stems from an irrational concern that the gifts we’ve bought are inferior, inadequate, or somehow insufficient. The temptation to run out to the store hours before Christmas is powerful. And that’s when we’re most vulnerable to go way off budget to buy some bauble or extravagance without the proper thought. Step back and take a deep breathe. If time is running out and you still have names to cross off your list, read on.

3

Give the gift of time.

The worst economic crunch in modern times is affecting just about everyone. Many of us simply have less to spend on gifts than in past years. If you’re cutting back on spending — and 37 percent of the people in our survey said they planned to — why not give the gift of yourself? By babysitting for a couple that rarely has a chance for a night out, for instance, petsitting, or  offering to take over some everyday chores – you’re showing how much you care in a deeply personal way that’s bound to be appreciated.

4

Consider a creative gift. 

In our most recent Consumer Reports Holiday Poll, 14 percent of those surveyed said they plan to give out handmade gifts instead of store-bought ones. That’s another way to cut down on expenses without compromising on your generosity.  If you’re a cook or baker, consider preparing one of your specialties or putting together a customized fruit basket; if you’re into digital photography, how about a creating a framed photo collage or calendar with pictures of the family? Similarly, if you sew, craft, or have another hobby, share your unique talents.

5

Avoid piling up debt.

Americans are still carrying $12 billion worth of credit-card debt from last year’s holidays, and even more consumers are planning to put their purchases on plastic this year. Even worse, two-thirds of those surveyed said they don’t expect to pay off this year’s holiday bills until March or later. With charge-card interest rates at around 11 to 12 percent, those monthly payments could put a stranglehold on your finances. This is no time to bust your budget. Whenever possible, pay by cash or check. Be careful with debit cards that you don’t overdraw your account and get slammed by hefty overdraft fees.

6

Know when to stop.

Once you’ve gotten something for everyone on your list, stop shopping. Avoid the temptation to keep searching for that one perfect gift. More time in the mall  — or in front of the keyboard — means more spending.

7

Send it overnight. Next-day shipping can cost a bundle, but it buys you a few extra days. This year, you procrastinators have until Dec. 23 to send a package overnight through the US Postal Service, FedEx, or UPS and have it arrive at its destination by Christmas Eve. In a recent experiment, we paid from $37 to $74 to mail the same 5-lb package from New York to California using the three services. All three services delivered the goods on time as promised. The Post Office proved the cheapest, in our study. If you’re ordering from directly from a merchant, the you typically have until noon PST on the 23rd to place your order to ensure timely delivery. Some stores, however, have a Dec. 22 deadline, so be sure to read each merchant’s policy carefully.

8

Give an E-Gift Card. We’ve been openly critical of gift cards that come with expiration dates and service fees that can diminish a card’s value whether or not you use it. However, some cards — usually the ones sold for use at specific stores — don’t generally have any strings attached. If you’re desperate, you can order an E-gift card from many merchants on Christmas Day, which will be sent to the recipient’s inbox within a few hours. Note: Some e-gift cards can only be redeemed online.

9

Consider regifting. Remember the Seinfeld episode involving the label maker that got passed around like a tray of hors d'oeuvres? Admittedly, it’s a last resort, and you better have a good explanation if you get caught, but plenty of people are willing to take the risk. Twelve percent of those surveyed said they plan to regift at least one present they receive this year. As much as I’d like to blame the lousy economy, I can’t. When we surveyed Americans last year — when things were decidedly better — 15 percent of respondents were planning to regift their unwanted presents.

Comments

[Robin Smith]

All 9 steps are really helpful as far as debt is concerned. So thanks a lot for giving this information.

http://letterdash.com/saver/Learn-the-Tricks-on-How-to-Avoid-Debts