Dollars & Sense: Boxing Day Blowouts & Shopping In The New Year

Dollars & Sense: Boxing Day Blowouts & Shopping In The New YearI am sure some would say in jest that waiting for Boxing Day sales is the most wonderful time of the year. How many times have you found yourself trying to order something online before the stores open, only to have your wifi collapse? We feel it, we feel the intensity of wanting that item and being the successful shopper.
 This is where we see people struggle, the understanding that spending is not just about money in and money out, it is the sounds, scents and euphoria of getting a bargain, buying what you want and being that one of 40 people that are at the front of the line.
 It can be so tempting. You don’t want to miss out on that great deal. But a great deal can cost you more than the one purchase.
 As with any shopping, shop with a list, plan your spending and watch for the impulse buys. If you have ever heard yourself say, “but it’s on sale…” You can be assured that a sale sign is a trigger for you to spend money, and perhaps buy items you would not have otherwise purchased. Sometimes, sales are greater in January and February after the holiday rush has become just a memory. It is tough to pass up on these perceived deals because you don’t know when or what the next deal will be. A sale is only a good deal if the item has a use, is needed and is timely. Otherwise it’s simply an add-on, a nice to have that occupies our dollars until we actually use it.
 A couple tips that will help you in the New Year are: Avoid using credit to purchase sales items, the interest you pay can negate any value saved; scan the flyers, do your research and stick to your list; balance your wants with your needs; listen to your inner voice (I should clarify, the inner voice that says, does this purchase make sense?); do not sacrifice bill payments to take advantage of a sale or to stock up.
 There is a lot of energy in the air when the Boxing Day and New Year sales hit, be prepared and you will be fine. If you spend too much, regroup and make a plan to stay on track. Check out our website for additional shopping tips under our blog, www.solveyourdebts.com.
 Merry Christmas and all the best in the New Year from all of us at Credit Counselling Services of Atlantic Canada!