If you avoided overspending on unnecessary Black Friday and Cyber Monday sales items, congrats! You deserve to bask in the knowledge that you are one of the savvier holiday shoppers. But it’s not just one or two days a year people need to worry about, especially during peak shopping season.
Keep in mind a few simple but vital spending lessons from the pros to be sure you’re spending your dollars wisely in the coming weeks.
Lesson 1. Prioritize Paying off Debt Over Gifts You Can’t Afford
This year, financial guru Suzie Orman emphasized what the team at CFSC has been saying all along: Paying off credit card debt is more important than impressing people with gifts you can’t truly afford. That doesn’t mean you have to go full grinch. Instead, focus on meaningful gestures that people will remember and value even more than something purchased to impress.
End-of-year holidays are nothing if not creative If you’re drawing a blank, we have some ideas:
- Baked goods. Bake or cook something you know they will love. It doesn’t have to be big! A fresh baked loaf of bread or a plate of cookies with a kind note will put a smile on anyone’s face.
- An offer to help. Everyone has a unique skill. What is yours? If you are good with repairs and have noticed something broken in someone’s home, offer to fix it.
- Something artistic. Are you like many people with an artistic bent? Draw, paint or create something poetic. Season’s greetings on a homemade card is sure to please.
- A fun or enjoyable gesture. Bringing your guitar to the party is a gift for the whole group.
- The gift of quality time together. Most people would love an offer for a home-cooked meal in the new year. With the chaos of the holidays behind them, they’ll appreciate your time together even more.
Lesson 2. Don’t Get New Holiday Decor When Last Year’s Works Fine
TikTok influencers are on countless young people’s radar. And even if you aren’t among their fans, their spending suggestions can still resonate. One video that got thousands of views touches on something frugal shoppers of all ages can relate to: there’s no need to replace holiday decorations just because they aren’t brand new.
Along similar lines, avoid caving to pressure to keep up with whatever you did last year. There’s enough financial pressure in life without putting unnecessary burdens on yourself just because of how a handful of other folks may celebrate.
Lesson 3. It Pays to Be Skeptical of Misleading Retail Advertising
Another common piece of shopping wisdom you’ll get from the pros is to be skeptical of shady marketing tactics this time of year. This particularly holds true when it comes to retailers, as they do the large bulk of their sales during the holiday season. The solution, according to prominent financial reporters: start tracking product prices to find legit markdowns, either on your own or using an app.
It’s just like it sounds. Be your own investigator and see if you can get accurate information on what the price was six months ago, three months ago, or one month ago. If you’ve noticed the price on a name brand winter coat going down organically, that signals you would be spending less than you would have earlier. This is a different process than being told by over-the-top signage about extreme drops in prices – ones that may never have been offered in the first place – and it pays to know the difference.
Lesson 4. Trustworthy Finance Services like Money Transfers at Your Local CFSC Currency Exchange
This last one’s on us. Considering how many goods get returned each year, send the gift of love through a money transfer instead. You won’t have to rush around from store to store or wait in line sending packages to out-of-towners. Those who live far away will appreciate the thoughtful gesture!
When you use the CFSC financial services at your local currency exchange, there won’t be any fake discounts or pressure to buy something you don’t need. What you will find is a variety of helpful services for everyday tasks that can be taken care of quickly and conveniently, all in one place.
Give us a call or stop by a CFSC location today; and go online to learn about smart money moves you can make year round!