Lending Club Blog

Christmas Prices Come Early This Year

As any child waiting for Christmas can tell you, it can’t seem to come soon enough. Though children will have to wait until December 25th, shoppers looking for lower prices from holiday sales will get their wish.

Citing expectations of weak holiday sales and a desire by consumers to spread holiday spending over a longer period of time, big-box retailer Wal-Mart announced that it would be cutting prices on certain toys at thousands of its stores. Its in-store Christmas Shops, featuring seasonal decorations and accessories, will also be opening earlier this year. Other retailers are expected to follow suit.

Spreading inevitable costs over a longer time period is actually a smart approach for many consumers, particularly in the current economic climate. When costs are concentrated in a short timeframe, such as the mere 27 shopping days between Thanksgiving and Christmas, people are more likely to use credit cards. The interest and fees associated with using credit cards and store charge cards can add significantly to the cost of purchases.

The key word about the economic sense of spreading costs to save money is inevitable. The economic state in our country is depressed, to say the least. As a result, many families will need to make a conscious effort to spend less this holiday season. Surely, Christmas is one time of year where we often allow ourselves to indulge and spend more on wants than needs, but reevaluating what it will take to make the holidays a “success” may help to rebalance your wants versus super-wants in terms of giving and receiving gifts.

Getting a good deal, spreading costs over a longer period and avoiding the impending crowds are all great ideas. But if starting your shopping early just gives you more time to spend, you may end up worse off. Consider making your shopping lists early, keep them small (or at least within your planned budget), make purchases when good prices present themselves, and avoid the temptation to allow your list to grow as the holidays approach. Also, be sure to watch for online-only discounts and Internet coupons to get the best deals.

When do you start your holiday shopping? Are economic circumstances forcing you to cut back on holiday spending this year?

Thursday, October 30th, 2008 at 2:05 pm

Comments (0)

Recommended

Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

We’ve acquired a company!

Today we’re excited to share the news that we… Read More »
April 17, 2014

Lending Club customer information safe from Heartbleed Bug

You may be hearing about… Read More »
April 11, 2014

New: Loan Origination Data Update

An update for users of our platform statistics and… Read More »
April 3, 2014

Lending Club Launches Business Loans

Today, Lending Club announced the launch of business loans… Read More »
March 20, 2014

Lending Club Extends Privacy Protections for Borrowers

At Lending Club we pride… Read More »
March 19, 2014

How to Protect Yourself from Online Scams and Swindles

It is more important than… Read More »
February 11, 2014

New Statistics Charts to Help Investors Understand Returns

At Lending Club, we believe… Read More »
February 6, 2014

Welcome Home

I became a U.S. citizen earlier this month. When… Read More »
January 27, 2014

Lending Club named #5 on Forbes’ Most Promising Companies List

Lending Club has won the… Read More »
January 24, 2014

Get ready for tax season with Lending Club’s Tax Form Guide

Tax season is coming. To… Read More »
January 13, 2014