How to save your Christmas budget

By Mary Cornatzer

RISMEDIA, Nov. 25, 2008-(MCT)-The Christmas Countdown has begun. It’s Black Friday. For the next month you will be charmed, pitched and enticed. Your emotions will be tugged upon. Eyelashes may be batted. And that’s just from retailers. There’s no telling what your loved ones may try just to ensure that their wishlists are fulfilled.

We know about wishes. We also know that many budgets are tight - and even if they’re not, who doesn’t love a bargain? So as an early holiday present, here are some tips that could make the next few weeks easier on your budgets.

1. Consider layaway. Sears has brought it back. Kmart has never forgotten it. And smaller retailers think it’s a fine thing, too. Layaway, the original frugal way to buy, is being rediscovered by those who have been seduced away by credit cards. There’s a lot to like about it-like no interest charges. A side benefit is you don’t have to worry about snoopers finding their gifts early.

Most stores that offer layaway require a small down payment that’s usually a percentage of the total and a fee upfront, usually around $5. Some have a cancellation fee. There are restrictions, like no beer or wine, perishables or plants. Some stores won’t let you put some things on layaway after a certain date: for example, pricey electronics or obvious Christmas items. Sears has a list of things you can’t put on layaway and requires all items be picked up by Dec. 23. It won’t accept any new layaways after Dec. 22.

You have to sign a contract and you have to pick the items up by a certain date. Others offering the service include chains such as Marshalls and Burlington Coat Factory.

If you’re not sure a store offers layaway, just ask.

If you do choose layaway, check for fees on returns or cancellations, make sure the item is set aside, and find out how refunds are handled as well as price adjustments-can you get the better price if it goes on sale?

Always read the terms carefully and make your payments on time.

2. Plan ahead. If your gift doesn’t fit, is the wrong the size or doesn’t work, the recipient will be ever so grateful if you’ve taken return policies into consideration.

Most stores have 30-day return policies, but find out if they’re extending those terms for the holidays. Most policies are posted on the store receipt but if you’ve already bought it that’s too late. If the return policy is not posted, go to customer service and ask.

Also request gift receipts, and remember to include them with the gift. If the item you’re buying has a warranty, make sure it doesn’t expire before the gift is unwrapped.

3. Try haggling. Retailers want sales this year, so if you have a lower price in mind, see if they’ll accept your offer. Ask for the manager as most clerks don’t have the power to negotiate. Never haggled before? Just smile and ask if a lower price would be entertained. Be polite and don’t make an offer that’s insulting. If your offer is refused, ask if you can be contacted if the item goes on sale.

4. Be careful of gift cards. You’ve heard it before: make sure there are no hidden fees and check expiration dates. This year, there’s the added concern that the retailer may not be around long enough after the holidays for the cards to be redeemed. Others have closed stores and restaurants that are considered low-performers, so if you do buy a gift card, make sure the recipient will be able to use it.

5. Don’t count on instant credit. In years past, stores have offered instant credit with zero percent interest rates or 90-day-same-as-cash financing in hopes of getting you to buy everything from pricey cosmetics to big-screen TVs.

But this year, banks are clamping down. That means that if you have a blemish on your credit record, you may not qualify for such “instant” deals.

Target, for example, is cutting credit lines and granting fewer increases in available credit to shoppers who have Target credit cards.

One store that says it hasn’t tightened lending standards is Best Buy. It’s offering 18 months of zero-interest credit for purchases of more than $499. The credit is offered through HSBC Holdings. But there are more strings attached. If you don’t make the minimum monthly payment of $10, the interest rates starts to add up.

If you want to avoid a little embarrassment at the checkout line, check your credit in advance with one of the credit rating bureaus: Experian, Equifax or TransUnion. To get the report instantly, you’ll have to go online to www.annualcreditreport.com. By phone (877-322-8228) or mail (Annual Credit Report Request Service, P.O. Box 105281, Atlanta, Ga. 30348-5281) takes 15 days. If you haven’t already checked on it this year, there’s no charge.

If you find out you don’t qualify for more, look on the bright side: It’s one less bill that will come due. And with interest rates rising, it will take only one missed payment to put you in an interest rate that keeps spiraling up.

6. Go online. That doesn’t mean buy online-though it can. Use the Web to research products and prices before you buy.

Turn to it to find sites that keep you informed of deals, coupons and promotions:

- Dealnews.com publishes a round-up of price-checked deals and online specials. It recently showcased New Balance shoes for $15 and up.

- Dealtaker.com offers advance notice of Black Friday sales.

- DealAlerter.com, run by Consumer World, lets you shop for thousands of products, from electronics to clothes, and allows you to set price alerts so you know when it’s offered at the price you want to pay. It also compares prices across several websites so you can buy the product now, or wait to be notified via e-mail if the price drops.

- PriceSpider.com searches hundreds of stores for electronic items like DVD players and flat-screen TVs and shows you a chart of its price history, along with reviews and links to retailers.

- FatWallet.com and SlickDeals.net offer forums, coupons and links to deals that may not be widely advertised.

- Shipgooder.com compares shipping rates from major carriers like the U.S. Postal Service, FedEx and UPS. Just plug in your zip codes and how much your package weighs and it’ll help you find the best deal.

- CyberMonday.com aggregates online holiday sales from 600 companies. Its parent, Shop.org, gets a percentage of sales made through the site.

- Propertyroom.com lets you bid on stolen property. The items were recovered by law enforcement agencies in 47 states. After a state-mandated waiting period, the agencies are allowed to put the loot up for bids. Recent steals included a Cannon digital camera for $31. There are an abundance of grow lights and lots of bling.

If you’re signed up with retailers to get e-mails, open them. Many are pushing coupons and specials and online-only deals.

There also are good deals on sites such as overstock.com. Remember, most online sites don’t charge taxes unless they have a physical presence in a state, so that’s another way you can save (at least initially; some states may want you to pony up those taxes when you file your income tax return).

However, if you’re worried about sizes or styles, you might be better off sticking with area stores where the item can be easily returned.

If you do buy online, watch out for shipping and handling costs. Those charges can easily wipe out any savings. Look for free shipping and free gift wrap, too.

7. Think strategically, part 1: Some retailers are as worried about money this year as you are. They’ve pushed discounts earlier and been careful with inventory. That could affect the availability of what you want to buy.

For instance, if you absolutely must buy clothes, then size matters. And there are no guarantees that the size you need will be there if you wait for prices to go down. Better to buy now and be sure. But check to see if the retailer has a “lower-price guarantee.” The way it works: If an item goes on sale within a specified time (usually two weeks) after you buy it and you still have the receipt, the store will make up the difference.

Electronics, however, will be worth the wait. If plasma TVs and other big-ticket items are slow to sell, they’ll come down in price.

8. Think strategically, part 2: Is your holiday gathering after the holidays? If you’re not seeing your siblings, your in-laws, your parents or your Great-Aunt Martha until January, wait to buy their presents.

True, it means braving the after-Christmas sales, but it will be well worth it. That’s especially true if it’s a slow holiday season for retailers-they’ll be looking to unload more right around Christmas by cutting prices.

Speaking of family gatherings, if yours is big, see if the other members are willing to draw names. Set a price limit.

© 2008, The News & Observer (Raleigh, N.C.).
Distributed by McClatchy-Tribune Information Services.

What to give at the office?

RISMEDIA, Nov. 23, 2007-(MCT)-Today marks the traditional start of the holiday shopping season, and that means the e-mail regarding this year’s secret Santa gift exchange will soon be circulating the office. The challenge of buying for the co-worker gets added to that of buying for the rest of family and friends.


“People don’t like to get a bunch of little inexpensive gifts from co-workers, nor do they feel like they want to go out and take the time to spend and wrap and present gifts to everybody,” said Sherri Athay, the author of Present Perfect: Unforgettable Gifts for Every Occasion. “But then there are people who love it and want to participate.”

The office environment dictates the level of celebration. Knowing the business’s gift-giving culture is key, says shopping expert Robyn Freedman Spizman, the author of The Giftionary.

Political correctness and the desire not to offend have done away with a lot of business-sponsored holiday celebrations. A gift-giver doesn’t need the confines of a secret Santa exchange or the annual holiday party to satisfy the spirit of giving.

“You might want to start a tradition,” said Ms. Spizman, who appears weekly on an Atlanta television station with shopping advice.

Personalized gifts are better because they convey that some thought was put into them. Personalization can be as simple as putting the recipient’s initials on the item, or they can be tailored to the recipient’s likes.

“You can look at someone’s desk and learn so much about them,” Ms. Spizman said. Got a gum chewer? Wrap $5 in gum in a box with a snappy note such as “couldn’t chews a better co-worker.”

It’s not expensive, yet personal.

“They’re going to enjoy it,” Spizman said.

If it is hard to find something that fits the co-worker, it is appropriate to get something for the co-worker’s children or pet.

The experts recommend staying within the price limits of the exchange.

Personal is good, but don’t get too personal, Spizman said. Lingerie, for example, will not go over well.

The jokesters in the office, she said, need to realize that not everyone shares the same humor.

“If it is bad taste, it is a no-no. What’s funny to one person is not always funny to the next,” Spizman said.

If gag gifts fit in the office culture, choose funny gifts that use humor in a positive manner, she added.

The gift-giving experts believe the better gifts are the ones that are more useful, not trinkets that will collect dust on a shelf, even if they were funny at the time.

The employees have all chipped in $1. What should you buy?

“The first thing to do is determine what the boss values,” Spizman said. “You’ve got to observe your boss, got to pay attention like a Sherlock Holmes, notice the likes and dislikes.”

In other words, the gift should fit the supervisor.

A boss who loves to save time could get a time-saving service as a gift.

“Do something fun. Go out to get the takeout menus that are near the office. Put those menus together with the gift card,” Spizman said.

Athay said pooled resources allow for enough money to get a coffee table book for the boss.

“There are books on every interest, and some of them are expensive,” she said. Athay recommends that gifts for a boss come from a pool of employees so the boss doesn’t feel uncomfortable getting a present from just one person.

“Generally, you wouldn’t give your boss a gift as an individual unless it is a small office or you’ve worked for them a long time,” she said. Larger offices often will not promote gift-giving because not everyone will get one, leading to hurt feelings.

“If you want to do something and you’re in the spirit of giving, bake a tray of sweets for the office,” Spizman said.

This is a moment where gift baskets aren’t really out of style. Just make sure it is big enough for everyone to get something from it.

Spizman has heard of employees pooling resources to give to charity or assist the homeless — even help one of their own in a time of crisis.

In an office environment where the gifts are randomly exchanged, it becomes difficult for people to find an item that would have universal appeal. For those occasions, Ms. Athay recommends office toys, something that’s small and can fit in a drawer.

“Toys are always nice for the office; it is good to have a break,” Ms. Athay said. When going for desk accessories, such as paperweights and clocks, make sure there is something special about it.

“Go for something a little quirky, more artsy than the plain old safe kind. You want to have some reason for the person to replace the clock that’s already on their desk,” Ms. Athay said.

Other ideas include a candy jar, with the candy to fill it.

Gifts of warmth are always good for holidays, Ms. Spizman said. Anything cashmere would fit.

When all else fails, gift cards are a good fall back. Gift cards don’t have to be store-specific. Spizman said American Express, for example, has a gift card that is usable anywhere.

Copyright © 2007, The Augusta Chronicle, Ga.
Distributed by McClatchy-Tribune Information Services.

Black Friday

Tomorrow is Black Friday, the biggest shopping day of the year. Here are some tips on how to save some money on your holiday shopping.

RISMEDIA, Nov. 21, 2007-(MCT)-Bad economic news could bring good buys for holiday shoppers this year.

Although Black Friday deals typically offer some of the best discounts of the year, there are ways you can find good buys throughout the shopping season.

If you are willing to do a little shopping homework, you should be able to snare some of the best deals and perhaps avoid long lines or the unending search for a parking spot.

“Consumers have to cast a wide net,” said James E. Fisher, a marketing professor at St. Louis University who has studied holiday shopping trends. “They have to read the newspaper advertisements, look at direct mail, use the Internet. There are so many ways to find deals now.”

Start looking for bargains early because some stores have scaled back their merchandise this year in anticipation of less-than-stellar sales. But if you’re a gambler willing to wait until the days right before Christmas, you could find even better buys. Just remember that the most sought-after merchandise will be long gone.

Many of the door-buster deals made available Friday morning at stores are offered online on Thanksgiving Day. Even so, many merchants already have started lowering prices in anticipation of a lackluster spending season. Wal-Mart Stores Inc., is expected to reveal some of its day-after-Thanksgiving deals in an online circular tomorrow. On Thanksgiving Day, it will reveal more.

There also are plenty of Web sites that track Black Friday deals. Some of them include: bfads.net and blackfriday.gottadeal.com. (The day after Thanksgiving is often referred to as Black Friday because it was when merchants expected to see their accounting ledgers go from red to black for the year, given the sales they posted that day.)

Although some are watching to see if the day after Thanksgiving will be as lucrative for retailers as it has been in the past, it is still counted as one of the best days to find a bargain. In particular, stores are known to offer good prices on electronics during the earliest hours.

But most of the steeply discounted digital televisions are limited to just a few to each store. If you’re not in line by 8 p.m. or so Thanksgiving evening and willing to spend the night in a Circuit City parking lot, you’re not likely to score those deals. But there typically are plenty of good buys on things such as DVDs and other merchandise that are offered for just a few hours Friday morning or throughout the weekend.

Don’t take the merchants’ word about the deals, though. Use online sites to comparison shop throughout the season. If you know just what you want, compare prices at different retailers by using sites such as pricegrabber.com, shopping.com, shopping.yahoo.com and shopzilla.com.

Alan Hoffman, a sales manager from Owings Mills, said he scours newspaper advertisements and compares prices at different stores before making a purchase. He also uses coupons.

“I like to do like a vulture,” Hoffman said.

Some stores also are offering free shipping to their stores for customers who shop for items online. Those moves are designed to help you get in and out of a store quickly, rewarding you for shopping at home and knowing what you want.

If you have some time Thanksgiving Day, consider shopping online when some stores offer cheap prices on electronics, toys and clothing. But look early and buy when you find it — the deals are limited online just as they are in the stores. Most stores will offer sales weekly to keep luring customers in for deals.

Hoping to snare an item that goes on sale tomorrow? You might arrive before a store closes the day before a sale begins and try buying the item you want. Many stores enter those deals into the computer system the night before. The better price often is offered to the consumer who asks for it.

Ellen Kraemer, an Owings Mills stay-at-home mom who sells goods on eBay on the side, said she buys just about everything at bargain prices. She’ll only pay full price on popular items she knows will go quickly.

Kraemer has many tactics: She visits discount stores such as Marshall’s, Gabriel Brothers and C-Mart several times a week. She’s on the mailing and e-mail lists of at least a dozen retailers for special discount coupons. She only shops department stores with a coupon or when there’s a sale.

“I’m constantly looking for the deals,” she said.

The good news for consumers is that merchants already know they need you this year.

Retail forecasts call for the slowest holiday shopping season since 2002 as economic woes — including a weak housing market and higher energy costs — are causing consumers to be more conservative with their spending.

The National Retail Federation expects sales to rise 4% this holiday season, which includes November and December. But sales rose 4.6% to $456 billion during last year’s holiday season. With stores depending on holiday shopping for up to 40% of their annual sales, retailers are working more aggressively than ever to woo shoppers and to reach them early.

Wal-Mart set the tone weeks ago, slashing prices as early as Oct. 1 on toys and other merchandise. It also launched its door-buster deals late last month instead of waiting until the day after Thanksgiving as it did in past years. Toys “R” Us already is offering similar discounts. And Kohl’s has cut prices, too.

“The deals,” said Jay McIntosh, director of retail and consumer products at Ernst & Young, “are definitely already out there.”

Copyright © 2007, The Baltimore Sun
Distributed by McClatchy-Tribune Information Services.