You Don’t Have to Be Broke in January
What is the reason for the season?
Every little saving counts. As you prepare your family for the upcoming holidays, look to where you can cut back in your daily routine to start saving. For example, instead of buying your Starbucks coffee every day on your way to work, consider brewing your own coffee from home and putting the coffee money in a holiday spending jar. Forget about eating out every week and cook meals at home. Read more here.
Be an informed shopper. The only way to know if you’re getting a good price on a good product is to do your research. These days, people shop in several stages. Sometimes we research online, then go to a store to make a purchase. Other times, we browse in stores, then search online for better prices.
Buy gift cards for less than face value. Many warehouse stores sell them for well under their redemption value, says shopping expert Andrea Woroch, who appears on network shows such as Today, Dr. Oz and Good Morning America. “There’s also an entire secondary marketplace online. GiftCardGranny.com, for example, markets cards from [major] holiday retailers, with savings that average 10 percent,” she says.
It’s tempting to overspend during the holiday season. While the average consumer plans to pay off holiday bills in three months, the true time frame is more like six months, according to a report by Myvesta, a financial crisis center in Rockville, Md.