Regina Lewis is one of the nation’s leading personal finance commentators known for well-researched, practical and actionable advice. She has conducted thousands of on-air interviews and has appeared on every major TV network, as well as TV & radio affiliates nationwide. Her segments cover economic and consumer trends. Regina’s bottom-line: help consumers save time and money.
In that vein, Ms. Lewis and Bank of America have put together some holiday shopping tips to help us save money this holiday season!
Easy as 1-2-3 Ways to Save This Holiday and Beyond
- Give to yourself: Self gifting happens every year, but is expected to rise to $130 this year. One tip to curb the impulse shopping: The $100 rule. Take the potential expenditure and divide it by $100 to get the total number of days you should think it over. For example, a $300 jacket would be contemplated for three days; a couple weeks before buying a $1,400 laptop.
- Dare to Compare: With the average household expected to spend roughly $700 above and beyond everyday expenses, comparison shopping online or on your phone can save you time and money. Consumers can save on an average of 20%-30% on products by doing their research and comparison shopping for everything on their shopping list [source: PriceGrabber].
- Shop with Your Social Calendar: Work around your social calendar when planning meals for the week. If you plan on attending a few holiday parties, scale back on your grocery bill accordingly to avoid food going to waste.
- Keep it All in the Family: As of 2008, a record 49 million Americans, or 16.1% of the total U.S. population, lived in a family household that contained at least two adult generations or a grandparent and at least one other generation [source: Pew Research Center]. Because of this, families should adjust their holiday gift-giving accordingly – picking names from a hat; giving to kids only; giving multiple lower price-point items.
- No Right Turns: Stores are designed to steer you through a certain path. Most of us are right handed & are oriented toward turning right. Are you being faked out?
- Dollar Store Shopping: Dollar store earnings are up. Scout your local dollar store for everyday needs like paper products, household cleaning products, seasonal items and craft goods.
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