Here's a list of 12 saving tips for the holidays from personal finance expert David Bach. His suggestions:
1. Start with a detailed list.
2. Use cash.
3. Shop online.
4. Compare prices.
5. Use coupon codes.
6. Cash in your reward points and frequent-flier miles.
7. Draw names from a hat.
8. Donate to a charity.
9. Host a potluck dinner.
10. Wrap with recyclables.
11. Accessorize.
12. Don't spoil the kids.
My thoughts on these:
1. We have a list that's made up of who we're buying for and roughly what we want to spend. We also have a suggested gift list for some of the people, but for some others, it's an "I'll know it when I see it" situation.
2. We use our credit card for as much as possible (which we pay off each month.) It all helps to put some extra cash in our pockets at the beginning of the year.
3. We'll probably do 25% of our shopping online -- most of it at Amazon.
4. You know me, I ALWAYS compare prices. ;-)
5. You know me, I ALWAYS look for a coupon code. ;-)
6. I haven't done this and don't really have that big of a stock of points to cash in anyway.
7. We have a couple (maybe) situations where we draw names from a hat, but not many.
8. I like to give as much as the next guy, but I think the "I gave a donation in your name" gift is kind of tacky. It's fine if someone wants to give me this sort of gift, but I don't want to give any. I do my giving separately and not disguised as a gift.
9. We attend one semi-potluck every year. I say "semi-potluck" since we don't have to bring food -- we bring a toy. A friend of ours has a Christmas party where she provides all the food and attendees simply bring a toy that the host then donate to Toys for Tots. It's the best party of the year (TONS of bad-for-you foods my wife won't let me eat usually) -- the must-attend party of the year.
10. Yeah, right. Next.
11. I think at this point, he ran out of decent ideas. How about cutting 10 and 11 and just making the post "10 Saving Tips for the Holidays?"
12. I agree with this one 100%. When I was a kid, Christmas was a present-fest (we'd each get 15 presents or so.) With our kids, we concentrate on a low number of nice gifts from us. They then have tons of other items roll in from grandparents, aunts and uncles, friends, etc. We let them open up several presents early since if we wait to open them all on one day, about 50% of them get opened and never played with (much) again.
Why are you unhappy with the suggestion to use recyclable/reusable wrapping? I've used the Sunday comics, and aluminum foil, myself. My mother-in-law does lovely gifts wrapped in fabric remnants -- which can be used again next year, with no impact on a landfill. I think encouraging people to waste less is a fine holiday idea :)
Posted by: Ellen | December 13, 2006 at 12:45 PM