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Just Say No to Cheap Gifts, Sis

Just say NO to cheap gifts, Sis.

With six days left until Christmas, you can feel a little pressured to just grab a gift and go. I have found that when I shop under pressure I have wasted both time and resources. What about you?
The first rule of thumb for last minute shopping is to accept that if you cannot afford it. Just avoid it. When it comes to gift giving, people say it’s the thought that counts. But we’ve all been in a place where we look at a gift and questioned, “Now, what were they thinking?!” Right?
You have to level with yourself and determine whether or not this is the year for you to just send out some heartfelt Christmas cards, roll up your sleeves and get crafty with homemade gifts, or do you actually have enough financial resources to share joyfully.  Once you make that determination, it is time to begin shopping with the end in mind.

Set a Budget Before You Go

If we use the average American income of $50,000, you won’t feel so guilty if you use less than 2% ($800)  of your annual salary to share with your love one’s during the holiday season. The average American spends $1,100 a year on Christmas shopping so if you are under the national average in overspending you at least now have a gauge to govern your Purse!

Be Like Santa

Make your list and check it twice! Yes, write down everyone on your list that you have planned to shop for, along with the amount of money that you have budgeted to spend on them. Once you have checked everyone off the list, resist the urge to find the perfect gift. This is where overspending creeps in and eats away at your cash.

Set a Timer to Be in Each Store

Retailers invest a lot of money to keep you browsing so that you can keep buying. So that you don’t get to comfy with the cheerful background music, beautiful decor and scented candles… Set a time. Because the longer you stay, the more you are going to pay. If you fall in with the 60% of Americans who shop online,  there may not be cheesy holiday music, but there is tons of click bait to keep you searching and loading into that cart. And if you are, then you definitely need a timer!
The average American spends about 42 hours each on holiday shopping, wrapping, partying and returning gifts. If you are planning to get all of this done within a week, I suggest investing no more than 5 hours. Anything you don’t get within that time frame can be purchased during the after Christmas sales. 

Download a Few Apps Before You Go

Here are a few of my favorites:
  • Honey (Saves you 18% on customer purchases)
  • Ibotta ( All-in-one cash back, saving and rewards app)
  • Rakuten (Digital coupon & cashback app that promises up to 40% on select purchase)

Shani Curry St.Vil
Personal Finance Expert
Purse Empowerment

e:              shani@purseempowerment.com

p:             (954) 394-0532

w:             purseempowerment.com

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ABOUT THE AUTHOR

Every time I come in contact with someone I want to remind them of just how Power-full they truly are. Literal, #Purse Empowerment! I do this by empowering mostly women (some men) tackle their financial frustrations rather its saving their 1st $10,000, eliminating thousands of dollars in credit card debt, accelerating the process of paying off their student loan debt, boosting their credit scores, purchasing their first homes, converting their 1st homes into investments and even creating a business that will produce even more wealth for them to save, spend, share and invest.