If you're thinking that you
will be spending less on holiday gifts this year, you're not alone.
The Consumer Federation of
America just released findings from its sixth annual holiday spending
survey indicating that 30% of consumers will spend less this year, while
only 14% will spend more. About half of all consumers will spend the same
amount.
"With increasing costs for
gas and home heating this year, it's not surprising that many consumers
will be watching their holiday dollars more closely, and looking for ways
to trim their holiday budget," explained Jody Anderson, director of
Financial and Housing Counseling for Lutheran Social Service.
Anderson said that there are
many ways to cut costs, and create holiday celebrations that are just as
meaningful:
Know your limits: Be
sure to have a budget in mind before you head out to the mall. Make a list
of gifts and resist the temptation to impulse shop or overspend. When
you're done shopping, really be done.
Be an educated consumer:
Visit websites, such as,
www.pricegrabber.com
that compare the same item against various stores so you can get the
lowest prices for your gifts.
Shop wisely on the
Internet: Sometimes, you can find the best deals online and avoid the
travel costs by shopping from home. But be careful. Pay by credit card,
never pay cash, and buy items from reputable, known companies. Also check
the return policy, and look on the company's website for the privacy
policy to make sure that your personal information will not shared. Print
and save online transactions so you can track your expenses later on.
Bake your gifts: Make
special cookies, gourmet pretzels or holiday goodies and deliver your
fresh-baked goods to neighbors, teachers or elderly shut-ins in the
community. Gifts don't have to be expensive to be meaningful.
While gift-giving can be
lovely way to share our blessings with others, participating in simple
family traditions may offer the most meaningful aspect of our holiday
celebration, and those traditions cost nothing!
If you find that you've
overspent on holiday gifts, or that your home heating bills are adding up
to more than you thought, Lutheran Social Service can help you get back on
track. Lutheran Social Service has trained and certified financial
counselors who can help individuals develop a budget or set up a debt
management plan through in-office appointments, phone counseling or the
Internet. Budget counseling is free. Lutheran Social Service is a member
of the National Foundation for Credit Counseling (NFCC). For more
information, call 1-888-577-2227 or visit
www.lssmn.org/debt
