Scribblings of a Corner Boy -
Christmas shopping is already in full gear and has been for weeks. Department stores and specialty stores everywhere have their hand out waiting to empty your wallet or purse. Pre-Christmas sales are offering discounts galore, some as much as 70 per cent off regular sale prices. Others offering zero per cent interest with no down payment. Retailers often target the gullible.
With more and more depending on every dollar we earn it is most important to keep holiday spending in check this year. The economy has far from recovered and unemployment is at all time highs.
During the holiday shopping season, gift-givers are urged to make a list and set a spending limit in harmony with their income. It is foolhardy to wait and get caught up in the frustration and anxiety of last minute shopping.
Statistics say that 60 per cent of Canadians do not even like holiday shopping. Major credit card polling says 52 per cent of Canadians make a Christmas shopping budget, and only about half of us stick to it.
Interestingly, despite the fact that more women than men plan to set a budget, women are more likely to overspend than men.
In North America the average spending on Christmas gifts per family is approximately $600.
Statistics say there are about 400 million gifts purchased across Canada and the United States each year. Some spend up to $100 per person would you believe? But Canadian credit council advisers say you "can enjoy the holidays "with all the trimmings, without the credit-card hangover. With interest rates as low as 3.5 per cent these days the temptation to borrow for Christmas is real.
Start planning now
To avoid making bad choices or buying in a panic a couple of days before Christmas, start planning now. Decide how much money you are able to spend and work that in, not one dollar more.
Oh to go back to the days of our youth! Times were so much simpler then.
I remember it was a big deal to visit Bowring's on Water Street in St. John's when the Christmas trees and gaily coloured lights were strung in the windows and Santa Claus was an early visitor all decked out with his red suit, black boots and of course the long white beard.
I remember when I was about eight how exciting it was when early December my older sister would take us downtown on the bus and we visited Bowring's famous toy land.
I would save up my tips from customers who were regulars on my paper route - I carried the old Daily News for about seven years.
Once I remember mom had a fit when I spent about $5 on a box of lavender body powder for her. "That was too much to spend on me," she said on Christmas morning. Of course a million dollars wouldn't be enough to spend on one's mother. I always felt she is in my heart.
Even at that early age my spending was very limited and somehow I guess I got a youthful lesson in the reality of only spending what you can afford. Gifts for siblings were impossible. We would put names in a hat, draw one and that brother or sister was all that went on the list other than dad and mom of course.
To avoid racking up debt, pay with cash or a debit card or you can check with your bank to possibly set up a special holiday-spending limited account.
Worldwide web
If you are tuned into the worldwide web, to find the best deals from computers to toys, you can register to receive e-mail alerts on price cuts to a wide range of goods. Major retailers welcome your e-mail address.
In recent years consumers found that the best time to buy toys and other types of gifts targeted for kids is two weeks before Christmas Eve. That is when stores start rechating up discounts on toys etc. that are not selling fast. On the other hand if you are searching for the must-have latest gismo you may well defeat all your promises to be vigilant with your budget, finding yourself in a possible bidding war.
Old fashion bartering
A good idea I learned from a friend of the family is to swap children's led free toys with close friends with young children.
Often expensive toys are no longer of interest to the young tyke but would be ideal for another tyke, perhaps a year or two younger. Refurbished goods that look new by a little T.L.C. are great money savers and a neat way to cut down the list of things to buy this Christmas season. It is important to be sure you know the condition of used goods. be they toys, books, CD's, DVD's that you pick up from friends, relatives or at yard sales or by bartering.
The Canadian Consumers advisory suggests the following:
* Make your list and check it twice
* Leave the kids at home
* Give yourself lots of time unless your list is short
* Don't leave it 'til the last minute
* Take advantage of free gift wrapping (saving both time and money)
* Think gift card if you are agonizing over the perfect gift
* Remember to tuck away your receipts and check the return/exchange policy before you buy
* Call ahead if you are wanting a "hot item" - this could save you time and exasperation
* Cut down your Christmas card list considerably
* Do your own baking and resist store-made cakes, pies, cookies and other holiday sweets.
Post-Christmas depression
Remember not to get carried away with spending this holiday season. One of the dangers of going into debt is after-Christmas depression.
The Canadian Mental Health Association says people often feel deprived and lonely, in stark contrast to the feelings experienced with all the pre-Christmas cheer.
Other more serious problems are feelings of depression as a result of weight gain having consumed far too much food and drink or realizing one has too much debt. After the tree is thrown out the door or the artificial one boxed away for next year, the reality sets in.
It is simply a matter of changing your old ways and those unnecessary outdated ideas on how the holidays should be celebrated.
A sensible and well-planned approach to Christmas spending can make you healthier, wealthier and wise.
Instead of just checking that list twice, better still check it half a dozen times.
Your pocket book will benefit and maybe then your January will be warmer and easier to take physically and emotionally.
Bill Westcott writes from Florida.
