Thrifty Thinking: Avoid Panic Shopping

According to a new Consumer Reports survey, nearly a third of those who plan to give gifts haven’t bought a single Christmas present yet. And 49 percent of the people who have started shopping are less than halfway done. So if you’re shopping at the last minute, you’re not alone.

Beverly Harzog, a nationally regarded credit card expert, consumer advocate, and author of the new book, "CONFESSIONS OF A CREDIT JUNKIE: Everything You Need to Know To Avoid the Mistakes I Made" (Career Press, 2013) says, "There’s no need to panic and overspend. Here are four ways to keep a cool head and stay out of panic-induced credit card debt:

#1: Make a gift to-do list
Who’s left to buy for? Make a list of who’s left and what you plan to buy. Look over your holiday budget to make sure you’re still on track. If you can’t make the numbers work, then you’ll need to spend less on one or two folks. Stick to your budget!

#2: Hop online instead of sitting in traffic
It’s crowded everywhere at this point. You’re more likely to overspend if you’re getting stepped on at the mall. The reason? You’ll get frustrated (and angry) and do whatever it takes to get the whole experience over with. You won’t take the time to shop for the best prices.

But online, you can have a cup of coffee and compare prices. Put your feet up, too, and get very relaxed. If you can’t the gifts delivered by Christmas, then print out a copy of the gift, put it in a box, and wrap it. Unless you’re buying for young kids, this is an acceptable way to avoid rush delivery charges.

#3: Get creative with gift giving
If you’re approaching your budget limit and you need to revise your gift list, just think outside the box a little. Is there a budding tennis player in the family? Give the gift of tennis lessons that won’t happen until 2014. Do you have a great recipe for apple pie? Homemade goodies are always appreciated this time of year. Sometimes, the gift that takes more thought and time is much more appreciated by the recipient.

#4:  Use smart phone shopping apps
If you must hit the malls, you can have help right at your fingertips. There’s a slew of shopping apps to help you find the best prices. Apps can be used to scan barcodes, redeem coupons, and find the closest  store that has what you’re looking for. Some apps even help you keep track of your spending and your budget.

Popular shopping apps include RedLaser, Coupon Sherpa, Amazon, FastMall, shopkick, Coupons.com, RetailMeNot, ShopSavvy, and PriceGrabber. There are many more, so do some research and find the app that works for your phone and meets your needs."