Posted by Mike Smith :: November 14, 2007 @ 5:41 amI’ve been known to rush the holiday season, but it seems like things get started earlier every year. It used to be that the day after Thanksgiving was the official start to the holiday shopping season, but the money-conscious consumer may want to start even sooner. Whatever your feelings about starting the celebrations early, everyone can agree that making the holidays more affordable would be a welcome change.
The main problem with waiting to start your holiday shopping until late November or early December isn’t just the crowds or the time crunch; you may be setting yourself up for more interest charges from your credit card. If you use credit cards to finance your holiday shopping, then cramming all of your purchases into a short time frame will likely cause the majority of them to land on one credit card bill. If you want to avoid starting the New Year further in debt, start your shopping as early as possible. By spreading purchases across multiple statements, you’ll be more likely able to pay them off in full, or at least pay more towards them.
It’s also important to remember that the best deals aren’t only in December. In an effort to entice shoppers, who normally get started on Black Friday, Wal-Mart recently began offering deals that previously would only have been offered at such a time. You can see the latest items at their “secret” website.
Sales after the holidays are often the best ones of the year. Just as you should make some purchases early, you may be able to delay others until after the holidays to save the most money. My sister-in-law is notorious for stocking up on wrapping paper in January, when stores are practically giving it away, to be used for Christmas the following year.
One last thought about waiting until the last minute to do your shopping: When you start to get desperate for gifts, you'll likely trade value for convenience. Paying more for expedited shipping or buying items that aren’t on sale are expenses that can be avoided.
If cash flow becomes an issue at any time during the holiday shopping season, avoid running up debt on your high interest rate credit cards. There’s plenty of time to apply for a person-to-person loan from Lending Club and still get an early start on your holiday shopping. The holidays are supposed to be joyful times, but many people are overwhelmed with the stress of shopping and figuring out how to pay for it all. By starting early, you’ll be able to make your shopping experience less stressful and more affordable.
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