WOMEN'S FINANCE
Christmas is Coming – the Wise are Getting Fat!

By Jane Mack (TMFJane)
December 20, 2000

Not that I wish to send you hurtling off in a panic or anything, but have you finished your Christmas shopping yet? Have you sorted out presents for absolutely everyone on that list you wrote a fortnight ago, including your Secret Santa contribution for the last day at the office? What about the (Roll 'em in, Roll 'em up, Roll 'em out) trolley dash around the supermarket for the turkey, the booze, and the Brazil nuts?

And (coughs politely) have you maxed out the credit card too, by any chance?

Christmas is the worst time of year for people getting into debt -- and who benefits? Yes -- your bank manager and the faceless folk who've got you over a barrel the moment you use your plastic pal. Wouldn't it be great to get one up on them but have a great time too?

I don't want to rain on your parade and, trust me, I'm looking forward to a jolly time just as much as the rest of you but, just think back to last year. Did you overspend? Were you still paying for Christmas as Easter came and went? And was it worth it? Or will you admit to making just a few expensive mistakes whilst under the influence of a mixture of Christmas spirit and blind panic?

None of the above applies solely to women, of course. But, in my experience, it's usually the women who sort out the Christmas presents for the children and relatives, women who do the big supermarket shop for the festive period and women who splash out on a glittering new party frock for the office party (a small reward for all our trouble!). So, naturally, it's often women who get the blame for the ensuing debts.

What's even worse is that the whole thing is immediately followed by the January sales. If you're the sort who finds it hard to resist an apparent bargain, you may find that your flexible friend suddenly refuses to bend any further. You have to penny-pinch through the rest of January, February and March before your spending power returns. No wonder the first three months of the year are always so grey and depressing for all of us!

It's not too late though. There's nothing wrong with putting a damage limitation exercise into operation right now without missing out on all the fun. The aim is to get one up on the likes of your bank manager and have a jolly good time doing it. By all means spend more than you usually do -- just don't spend quite as much as they'd like you to! All you have to do is "think before you ink" those credit card slips so here are a few simple tips:

* Make a list of what you actually want before you go shopping this weekend -- whether for those last few presents or if you're heading for the supermarket. Decide what you want and buy only what is on the list. (Don't go on an empty stomach -- it makes it much easier to resist the unnecessary goodies that you'll only throw out at the end of the week!)

* When you go out for the evening take a set amount of cash with you and no credit card. It'll stop you from spending more than you meant to (often a problem when under the influence of alcohol, don't you think?).

* Don't allow guilt trips to get to you -- if you must buy a "guilt trip" present, make it a very, very small one. Just because you've spent a certain amount on one toddler, teenager or parent, doesn't mean you have to spend the same amount on the other toddler, teenager or parent. It's the choice of present that matters.

* Put your pride or any possible snobbery on the back burner and hit the charity shops. Regulars of shops like Save the Children and the Imperial Cancer Research Fund know there are bargains to be had -- and the recipient of the gift ain't gonna know it wasn't brand new. Besides, you can just say you found it at a brilliant antiques fair!

* It's far too late to shop online for Christmas now but, if you're after bargains in the January sales, then look at what's available on the Net.

Incidentally, for the first time ever, I've had a go at doing my Christmas shopping entirely online -- and that includes the booze. I did it all in the first week of December and can honestly say it was an absolute joy. There was time to browse, to ponder, and to compare prices -- all with a nice glass of wine in one hand and without the crowds, the queues and the bad tempers. There was no last minute panic buying either, which is often the cause of over-spending.

The result has been that recent trips into town over the last month have been rather more pleasurable than they might have been -- simply because of the complete lack of pressure to buy anything.

Keep it mind for next year.

Finally, since the use of the Internet for Christmas shopping is a little too late now, you might find the tips from fellow Fools on our Living Below Your Means Board of interest over the next few days. There are still good deals around in the shops as this example illustrates:

I found a surprise bargain last night when I went in to Staples to pick up some Christmas items - Some of their PC games are very cheap. I bought Diablo 2 for the princely sum of £12.40. The cheapest that I can find it on the net is double that.

So my brother is going to get a big surprise on Christmas morning when I manage to deliver a game that he's been itching for, but thought that he wouldn't get because of my £15 gift limit.

Christmas may well be all about giving, but it doesn't mean you have to be un-Foolish about how you handle spending your money. It doesn't mean you're being stingy or uncaring -- quite the opposite, in fact. It means you're actually being more thoughtful about the person you're buying for.

Merry Christmas!

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