Be Smart About Holiday Shopping | Richard Banks & Associates, P.C.

The holiday shopping season is getting underway, with the pinnacle event, aka Black Friday, just over a week away. Before getting out and tackling the holiday shopping rush, you’ll want to come up with a smart shopping plan that will help you stick to a budget and not go overboard.

Holiday Shopping 101

Last year proved to be an especially excellent shopping season for retailers, with 2017 figures supplying them with their best holiday season sales since 2011 for an increase of 4.9%. Retailers saw a record $598 billion in sales, which was up $33 billion from 2016.

With unemployment rates still at historic lows, it is only natural to expect holiday sales to stay on the upswing.

Tips for Smart Holiday Shopping

From planning to budgeting to dealing with other holiday shoppers, holiday shopping can be a highly stressful time. Don’t let the idea stress you out, though, because we’ve got some tips that can help you be a smarter holiday shopper this year.

1. Do your research first. Planning to go out for Black Friday? You’ll want to do your homework first. Most retailers release their Black Friday ads online and in print the weekend before Thanksgiving. Look through the ads your favorite stores have released and game plan where you need to start, what time you need to get out, and what exactly you may be attempting to buy.

2. Don’t procrastinate. Want to ramp up the stress level for your holiday shopping? Procrastination is guaranteed to do that. Remove some of the stress by not waiting until the last minute to buy your holiday gifts and spacing things out around your pay days if you’ve not set some money aside previously.

3. Stick to your budget and list. It’s always tempting to pick up a few additional items when out shopping, but that could also lead to a bit more financial strain for you. Stick to your budget, your shopping list, and your spending limit on gifts for family and friends.

We hope these holiday shopping tips help you be a smarter, less-stressed shopper this season. If your finances aren’t allowing for any extras, especially holiday gifts, and you are thinking about bankruptcy options, consider reaching out to the experts at Richard Banks & Associates, P.C. for help.