Business

<< Previous   of   Next >>   ADVERTISEMENT   Related Stories • Save now, splurge in a decade or so 10/20/09   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Tuesday, October 20, 2009 Plan now to make holidays debt-free Anne D’Innocenzio Associated Press NEW YORK — For consumers grappling with job insecurity and limited credit, it will be especially important to keep holiday spending in hand this year. To avoid making bad choices or buying in a panic two days before Christmas, the key is to start planning now. “If you plan and figure out how much money you have, it won’t be stressful,” says Sandy Shore, senior counselor for Novadebt, a nonprofit New Jersey-based credit counseling agency. Here are some tips: Set limits Job One is to figure out how much money you can afford to spend in all. Next, list people you’ll shop for and set a spending limit for each with some specific ideas of what gifts you’d like to procure. To avoid racking up debt, pay with cash or a debit card or even set up a special bank account — though experts caution against using traditional Christmas Club accounts if they have lots of restrictions. Shop strategically To find the best deals, from computers to toys, register to receive e-mail alerts on price cuts. Sites like Shopzilla.com, Shopping.com and Pricegrabber.com have information on a wide range of goods. Shopittome.com looks for deals on brand-name clothing and accessories and e-mails shoppers customized daily or weekly summaries. And Groupon.com tailors deals to a given region based on interest expressed by members of the site. Timing is everything Daniel de Grandpre, editor-in-chief of Dealnews.com, says the day after Thanksgiving, traditionally the shopping season’s kickoff, isn’t necessarily the best day to find bargains. In recent years, stores have offered deals throughout November similar to their promotions during that ballyhooed pre-dawn bonanza, while de Grandpre says the best time to buy toys is two weeks before Christmas. That’s when stores start ratcheting up discounts, sometimes to 80 percent, particularly on more obscure toys and those not selling fast. Of course, if you want this year’s must-have, you should start looking now or risk finding yourself in a bidding war. Think about reuse Refurbished goods that look new are great for the gadget-seekers on your list. Michelle Madhok, founder of online publications Shefinds.com and Momfinds.com, points to sites like Apple.com and Dell Inc.’s Delloutlet.com. Both offer the same warrantees on used items as on new products, and some of their “refurbished” products were simply returned by customers unused. Dell spokesman Bob Kaufman says discounts range to 20 percent. Also check Nobetterdeal.com, which sells returned items for 40 percent to 70 percent off the retail price. And remember that Amazon.com will connect its customers with used books, DVDs and other items being sold by other retailers and by consumers. Craiglist.com can also be a great source. Whenever buying anything used, be sure you know its condition before you pay. Consider cash back Many credit cards and retailers reward shoppers with points or even cash, though experts advise checking for fees or limits on how you can spend the payments. Wells Fargo’s card services division simply gives back 1 percent of a cardholder’s monthly purchases. When Bank of America credit card holders shop online with about 300 specific retailers, they get up to 20 percent back on top of any discounts retailers offer. And 1800flowers.com gives participants a $20 gift certificate for every $200 they spend. Many other cards and stores offer similar programs. But Jim Roberts, professor of marketing at Baylor University, warns that such programs can trap consumers and recommends using them to buy only what you need, just as you should respond to any sale or promotion. “Don’t just spend to save.” READER COMMENTS Be the first to comment. You must be a registered user and verify your e-mail address to post comments to blogs or articles on HeraldNet. To register, click here. To read other terms and conditions, click here. Log out

1. City of Everett, neighbor sued over lost trees, mudslide 2. Three-car accident closes Highway 9 3. Kennedy’s assassination remains a puzzling memory 4. Ways to Give: How you can help in your community 5. Take a look under your seat 6. Novice real estate investors can lose their shirts 7. Kwan never golden, but sometimes transcendant 8. Lotto ticket worth $6.5 million sold in Lake Stevens 9. Canceled credit cards come as a shock for some 10. Count drags on long after the election's over 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

• Eat local this Thanksgiving • Mavericks moving on • Canada's Great Big Sea rolls into Edmonds • A. Murphy finishes 2nd in volleyball • Art Walk features music, demonstrations • EAT LOCAL: Getting the goods • Lynnwood HS history teacher Vic Bennet dies • Wildcats head to semis • CSO Chamber annual show slated Nov. 23 • Boeing will build, flight test and deliver 787s in South Carolina to spe ... • Snohomish County EDC promoting job growth in key industry clusters • $4 million grant to advance brain tumor research has Everett links • Providence medical center construction tops off its 12-story steel frame ... • Tulalip affordable housing project to be financed by KeyBank, Raymond Ja ... • Arlington's Lak of Ink has a growing following for Luke Kooyman's creati ... • Bank of the Northwest formed • Cascade Bank earns $1.6 million