Christmas Shopping – Are You A Winner Or A Loser?

Well, you might say “I’m a winner, I’ve got a bargain”. But you might not be a month later when you can’t afford to pay your credit card bill.

Do you sit at home refusing to spend money?
That’s no fun!
So how do your manage shopping in the sales and make sure you don’t overspend?

To ensure you are a winner – Only buy what you need.

Clothes – check out your wardrobe before you go to see what you need. Buy clothes that you know will need replacing in the next 12 months. Buy clothes that fill a gap in your wardrobe.
Household – again look for what is missing or broken in your home and try and find a bargain alternative. Keep a book of room measurements and window measurements in your bag and then you know whether that bargain will fit your room.

Only buy what you can afford

Don’t just use a credit card without thinking about whether you are going to be able to pay the bill in full next month to avoid interest charges. It is very tempting to spend, spend, and spend without control. This is true at any time of year but particularly at the Christmas sales time.

If there is a large item that you need to buy, you may need to pay over a number of months or look out for interest-free credit options. And question prices for this.

Shops want to sell to you – you are in control.

Only buy what fits

It’s a bargain and you love it. But it is a size too small. Don’t do it – it will just sit in your wardrobe unworn. Maybe you will lose weight but you should only buy what fits today.
But for children’s clothing always buy for a future season unless your child is there to check the size. All 5-year-olds are not the same size! So better to buy too big and use it in the future than for the item to be unworn.

Stock up on basics
Buy things you know you will buy at some time in the year. New underwear is a good example. Buy some new socks and put the pack away for future use. Maybe for birthdays to come? Buy now at reduced prices but remember people won’t be able to return clothes so stock up with non-clothes items as well. Buy next year’s Christmas cards at half price. Just remember where you store all this!

Check out the end of sales

I have found that I can pick up some real bargains at the end of the sales. You just need to go and check the back of rails. And don’t forget sizing varies. A size 10 dress may be left as too small for everyone but maybe it is very stretchy so try it on.
But don’t get carried away, just buy what you need. I often find I can buy an evening dress at a very reduced cost and so buy a classic design and you are all sorted for next year’s Christmas party.

Dress comfortably
Ladies, wear leggings and a vest top and that way you can just slip clothes on quickly to try. It is always handy to have someone with you to hold handbags, coats and shopping bags. This leaves you free to delve into the fray. You can also get a second
opinion on your shopping. But this is not one way – you may need to take it in turn with your partner to be the bag holder.
So enjoy the sales but remember that the credit card bill will have to be paid next month.

Sue is a highly experienced finance manager, having worked as a Finance Director and Managing Director, and a consultant within the accounting profession. Today Sue runs her own business to help businesses and charities to organise and take control of their finances. Sue specialises in using cloud software to support her clients.