1. Shop Earlier! By far, the best thing that you can do to lower your expenses during the holidays is to shop earlier. Yes, there are Black Friday sales and Cyber Monday deals, but if you want to save the big bucks, then you need to start shopping extra early. How early? Try the days following Christmas! After the holiday has come and gone, most retailers slash their prices up to 75% (and sometimes more) on holiday items. This is the perfect time to pick up next year’s holiday cards and decorations at bargain basement prices. You can even stock up on some smaller, generic items like gift tags and bows. If done right, you can spend a few bucks at the local Wal-Mart and come home with enough of these minor items to last a few years – eliminating these costs for the foreseeable future.
2. Shop Smart. We are blessed to live in the age of the internet – so use it to your advantage! While it is unnecessary to make all of your holiday purchases online, doing so might save you some cash. The real money-saving lure of the internet, though, is the ability to “shop around” from the comfort of your own home. Use the internet to create a shopping strategy and to compare prices. Check to see if the electronics super store can beat the wholesale club or the big box discount store for the digital camera that your brother wants. Once you’ve found the lowest prices on all of your gift list items, map out a strategy for your shopping day. Remember, saving money also means eliminating redundancy in your traveling. There’s no reason to spend more on gasoline because you didn’t pre-map your shopping excursion.
3. Make a list. And check it twice! One of the textbook strategies to reduce your expenses at the store is to make a list of what you want to pick up at the store and stick to it. If you are going to a store to buy a specific video game or DVD set, then retrieve the item, pay for it, and move on to the next store. The longer you stay in one store, the more likely you are to pick up an extra few items. As an additional point on lists – be sure to ask those who are on your gift list what they want the most this holiday season. There’s no use in buying Mom a new set of lamps for the living room when she really wants a new luxurious bathrobe and spa set from JC Penney.
4. Re-gift. I should have named this point “have no shame in your game” since that’s the core point. Remember the under the kitchen cabinet combination CD player and radio that you won at the office party? Since you’ll never have a use for such an item you may as well wrap it up and send it off to Aunt Tillie. The point here is that if you have unopened, unused items that you really don’t want and are worthy of being given as a gift, then you can save considerable amounts of money by using the art of re-gifting. Be careful, though. You need to keep your re-gifting worlds separate. Take items that you receive from co-workers and give them to family members and then use items from family members as gifts to friends, etc. When re-gifting, always be sure to maintain a separation between your various social groups.
5. Pay in cash. While the economy continues tying itself into knots, the major financial institutions are becoming more restrictive with their credit card policies. Some people are waking up and finding that their interest rate has jumped while their credit limit has been decreased. If you are paying for your gifts in cash or with a debit card, then you do not run the risk of having to pay an increased interest rate over the next few months while the market figures itself out. Part of being aware of which items you can pay for in cash is understanding that you may need to restrict your spending this holiday season. In these uncertain economic times, it is important to keep your financial house in order. Sometimes, to keep your own house in order you need to restrict your spending – even during the holiday season. If there is a silver lining in restricting your spending this year it is that there is a strong chance that the people who are buying you gifts are doing the same thing.

These are just a few of the many ways that you can save some money this holiday season. When all else fails, though, remember that this season really isn’t about fancy gifts or expensive trinkets. Family, friends, fellowship, and faith – those are the only things that most people need to enjoy the holiday season. And we’re in luck because they all come free of charge!

First, while the stores were filled with shoppers there was still room to move around (except Wal-Mart – more on that later). In previous years I remember going to some stores and being jammed into the shopping areas literally standing shoulder to shoulder with other shoppers. With that memory in mind, I was somewhat relieved that I had room to move around the stores and do some shopping without having to worry about bumping into people or tripping over product.

Second, the roads were less congested for the entire extended weekend starting on Wednesday. I drove everyday from Wednesday through today and I was never caught in anything other than normal traffic. That’s not bad!

Third, retailers did put out some significant deals. A few weeks ago I wrote about how I was gearing up for Black Friday and using a certain website to find out what the big deals would be for the day. That website combined with the various flyers which came in the Thanksgiving Day newspaper showed a retail industry that wanted to attract buyers into their stores this year. The big item this year seemed to be bargain basement prices on high definition LCD and plasma screen televisions. In terms of comparison to previous years…well some four years ago I had a comment or two about the lack of deals at retailers.

Fourth, Circuit City employees tried to overcompensate for the company’s current financial position – to their detriment. I went into Circuit City yesterday and I was amazed at how bad of a shopping experience I had at the store. In almost every aisle that I walked down, an associate asked me if I needed any help. The first two times that someone asks you this, it’s very respectable. The second two times, it becomes a bother. By the fifth and sixth time a different employee asks you if you need any help you wonder what’s going on and why these people won’t let you shop. Frankly, I felt like I was being tracked by one of the employees as though I was going to steal something – it makes for a very unpleasant shopping experience. I was going to buy something at Circuit City, but thanks to the overzealous sales staff I got out of there as quickly as possible.

On top of that, Circuit City had rows and rows of videos games out in buckets (buckets are the traditional sign of “sale on these items”). As I was browsing through the buckets some kid who works at hte store was trailing me and putting the items back as soon as I picked them up (at one point taking the items out of my hands). Then I asked him if any of these games were on sale. He said they were not, but were selling for regular retail prices between $50 and $60. Yeah…that will get people to purchase the product. Dummies…

Finally, the level of common courtesy towards fellow shoppers was somewhat high in all stores except for Wal-Mart (on Black Friday – Wal-Mart was okay on Saturday). I have a million pet peeves about bad shoppers and they were all on display at Wal-Mart on Friday: people standing at the end of the aisles talking to a friend and blocking passage out of the aisle, children running wild through the store with no parental supervision, shoppers putting their cart on one side of the aisle and standing in the other side of the aisle creating a roadblock, and consumers stopping short in the flow of traffic and turning around thus creating the “trout jumping upstream” effect. It was enough for me to get the hell out of Wal-Mart almost as soon as I got in there. But hey – at least I didn’t get trampled by a mad mob (more about that coming up in a future post).

All in all, it was a decent Black Friday and most of the retailers stepped up to the plate in an attempt to get their balance sheets in the black as well as shoppers through their doors. If you have any crazy Black Friday stories, I’d love to hear them in the comments section below.