It’s no surprise that everyone racks up massive debt during the holidays, but I say the time to start saving and preparing is now! Buying early is the key to holiday savings. Set a holiday spending plan, make your list, scour the sales and mark off items purchased. By the time the holidays get here, you could have most of your gifts already bought and consequently have minimal credit card charges.
Here’s the link to my major media appearance on ABC News Now “Good Money” where we talked about frugal holidays. View the winning tips entries from Summer who lives in Springfield, OR; Sasha Payne and from Ann in Charlotte, North Carolina. Each of these frugal tipsters got a complimentary copy of my book, The Little Book of Big Savings, just for sharing their tips.
There are 2 areas we can save the most money: gift giving and the food. First, shopping for clothes: I think they are going to be a common gift item as families need practical gifts to recover from the recession year. The next time you’re shopping clearance racks at your favorite clothing store in the mall, don’t let the wrong size on the rack become a deterrent to saving. First, ask the sales associate to check the back for your size. Many stories do not put all their clearance items out front. Secondly, if they do not have your size, ask them to check another store, give you the sale price and ship it free. More and more stores are starting to offer this service in order to compete with online retailers.
The second area is food and it’s important to look out for how much you spend on groceries for the holidays. Don’t settle for just one kind of savings at the grocery store. Instead learn to add “layers” of savings such as store sales, coupons, double coupons, cash off your next shopping trip, store coupons and more. One place to go is http://www.couponmom.com/ to see what items are on sale with a coupon in your neighborhood. According to the USDA cost of food at home in 2008, the average family of 4 spends $7,968/year on food and by following these tips can spend in the thrifty category of only $4,068/year.
Thanks for your tip entries and keep posted for our next contest where you can win a book and have your tip or question featured on national television, too!
America’s Family Financial Expert