Early holiday shoppers save time and money

Are your holiday gifts already bought? If you haven't even started, what are you waiting for? The crowds, the stress, the skimpy 10 percent off sales?

"Many people don't think about holiday gift buying until Thanksgiving and wind up spending a lot more than they wanted to," said Kim Womack, director of education for Consumer Credit Counseling Service of South Texas. But she points out that an enlightened group of consumers (One out of every six consumers to be exact) is out beating the bushes for holiday gifts as you read this. They’re getting good deals on clothing and sporting goods purchased out of season, taking advantage of Internet specials, and avoiding crowded malls. "These shoppers are also spreading their purchases over many months instead of condensing them into one month," said Womack. "Many pay as they go and avoid the interest payments on a credit card balance."

Womack encourages consumers to have most of their holiday shopping done by Thanksgiving. She offers the following tips from CCCS of South Texas for shoppers who would like to get a jump on their gift buying this year:

Create a holiday budget. According to an American Express survey, the average consumer spends $1,700 on the holidays. CCCS recommends a budget of 1.5 to 2 percent of gross annual income, or $450-$600 for a household earning $30,000. It’s a good idea to build a $100 cushion into your budget for overruns.

Make a comprehensive shopping list. You'll buy more than gifts if you're like most. You'll also need a tree, decorations, dinners out, holiday cards, stamps, wrapping paper, and lots more. Make sure these expenses are included on your list and in your budget. Your shopping list should include both the names of all the people you will be buying gifts for, and the item to be bought with a target price. ''' Create a holiday spending account.''' You'll need a spending strategy – how much cash do I spend and how much can I charge? Budget a certain amount each month to cover holiday purchases. Keep the money separate from household funds so it doesn't disappear. If your credit union or bank has a holiday savings club, join it next year. Increase your cash reserve and make room for those new gifts by having a garage sale.

Track spending carefully and keep receipts. Keep a running tally of all cash and credit purchases to stay within your holiday budget. Watch store flyers and Internet sites to compare prices as some merchants will honor the lowest advertised price after the initial sale. You’ll also need receipts for returns to get the actual price paid.

Choose stress-free shopping. Start buying items now, rather than later. Schedule some shopping time and go alone to eliminate distractions. Give serious consideration to gift certificates for those hard-to-buy for people on your list. Turn to the Internet first to compare prices. Many national chains offer cheaper prices on their web site. Weigh any shipping charges against the hassle of going to the stores.

Know when to stop. Take inventory of gifts already purchased, and any that can be recycled. Don't get caught up the buying frenzy that the holiday season brings, especially when paying with credit. Keep spending in check in order to take advantage of the really great sales after Christmas and throughout the year.

"Get your shopping done early and you'll spend less time on last-minute gifts and more time with friends and loved ones this holiday season", said Womack. "You'll spend less money, too." She also urged people to get advice on savings and shopping strategies. One resource is CCCS, which offers classes, counseling, and educational materials at no charge.

CCCS of South Texas is a national nonprofit, United Way agency serving the Coastal Bend, Crossroads and Rio Grande Valley. Established locally in 1969, CCCS offers free budget and credit counseling, debt repayment plans and consumer education. For an appointment or additional information, contact CCCS at 1-800-333-HELP.