When it comes to Christmas shopping, many people are like Ebeneezer Scrooge. No, not that they’re miserly. But rather they realize that Christmas is right upon them, and they’re bustling about at the last minute to make the appropriate selections. Traditionally, these people tend to be male rather than female as men in general remain less invested in gifts and shopping than women are. However, everyone is invested in the best deals, with many planning to wait out the retailers.
But with post-pandemic supply chain problems still an issue, deal-makers and perfectionistic procrastinators alike may find themselves out of luck. You want to hit that sweet spot between best offer and enough inventory.
With that in mind, it’s not too late to offer tips to the economical holiday shopper and reveler, courtesy of Judith Heft & Associates, https://judithheft.com/ a team of women financial and lifestyle concierges, with offices in Stamford, whose clients include high-powered couples with no time to manage a household; the newly separated, divorced or widowed; members of the sandwich generation; and small businesses with bookkeeping needs. Besides Connecticut, the company operates in several states as well as overseas in Asia and Europe.
Here are Heft’s seven dos for a merry, affordable Christmas:
Start with a list – Before you dive into creating your spending plan – or even if you’re in the midst of holiday spending – make, or refresh, a list of all your anticipated expenses. Include gifts, decorations, travel, food and any other relevant categories.
Set a spending limit – Determine or adjust how much you can comfortably afford to spend during the holidays. This budget should be a realistic reflection of your financial situation.
Track your expenses – It’s essential to keep tabs on your spending throughout the holiday season. Consider using budgeting apps or spreadsheets to monitor your expenses.
Shop smart – Look for sales, discounts and online deals. Websites and apps like Honey, Rakuten and RetailMeNot can help you find the best deals.
Potluck parties – If you’re hosting a holiday gathering, consider making it a potluck. This not only reduces your expenses but also adds variety to the menu.
Learn to say “no” – It’s OK to decline invitations or gift exchanges if you feel it will strain your budget. Prioritize your financial well-being.
Focus on experiences – For those going Marie Kondo this Christmas, consider giving the gift of experiences, such as a spa day, concert tickets or cooking classes. These create lasting memories without cluttering the home.
