It’s a wonderful time of the year. I enjoy the special events that come with the holidays, especially the family time together. One of the tasks that is added to our schedules is shopping for presents. Have you ever considered being mindful with shopping instead of impulsive? Dr. April Benson suggests that we ask ourselves the following questions:
• Why am I here? If we shop when we are angry or frustrated, we may not make good decisions
• How do I feel? If it’s been a bad day, it might be hard to resist temptations
• Do I need this? Just because it’s on sale doesn’t mean I need two of them, one for a gift and one for me
• What if I wait? Will it be on sale or is it really what I want?
• How will I pay for it? If I use credit, can I pay it off when the bill comes? Does it fit in my budget?
While these might be a little different when we are shopping for others, I’m guessing that there’s always the temptation of the “great sale” for ourselves. As we shop to find the “perfect” gift, maybe the gift of time would be more appropriate for some, like a “lunch date after the holidays” or “help with spring cleaning, a car detail or child care”.
National Endowment for Financial Education (NEFE) suggests these shopping tips:
1. Make a list, and stick to it. Even if you’re not sure what the gift will be, they can be grouped into price, $5-8, $12-15, etc. Almost half the purchases we make are on impulse, so pay close attention to your list that is guided by your budget and how much you have to spend.
2. Skip the mall and do your shopping on line or locally. The possibility of overspending at the mall is greater than if I compare cost on line and have packages sent directly which could avoid postage cost too.
3. Be aware of your spending “triggers” (driving past your favorite coffee shop on your way to the store or shopping at places you know you will purchase something for yourself).
