By Michael Koretzky
Source: http://www.moneytalksnews.com/
Provided By Shelley Dudley
You know the holiday season is almost here when economists and forecasters start predicting just how much we'll spend on gifts - and they all contradict each other.
Take a look at these reports from last week..
"After a ho-hum 2009 and a disastrous 2008, holiday retail sales are expected to increase a more moderate 2.3 percent this year," proclaims the National Retail Federation.
"In almost every category this year, there is a drop-off in intended purchases," cautions market research firm NPD Group.
"The overwhelming majority of shoppers will maintain a tight grip on their wallets as they hit the stores this holiday season, with 83 percent expecting to spend the same or less on holiday gifts compared to 2009," suggests business consulting firm Accenture.
Even though the experts don't know exactly what will happen by the end of the holiday shopping season, their reports give the rest of us some tips on what to do - and not do - at the beginning.
For instance, all three reports make the obvious prediction that consumers will be bargain-hunting this holiday season. "The primary influence on where consumers will shop for gifts this year remains price," says NDP Group. And since these reports are widely read by businesses that set those prices, that's good news for us. But NDP is not advising retailers to slash prices on clothes.
Clothing may not come cheap
"In apparel, I think it is important to point out that the drop-off in intentions doesn't necessarily mean a significant decline in apparel sales," says Marshal Cohen, NDP's chief industry analyst. Cohen explains it like this...
Consumers tend to fall back on their "old faithful" items, like apparel, especially when there are no "new" items or "hot" categories. And so far there are only some updated re-runs of the same old product. These may be "want-to-have" items, but there aren't any "must-have" items, at least not yet.
Here's another reason to double-check those prices on clothing: According to the Accenture study, holiday shoppers plan to spend more on clothes (57 percent) than anything else - including toys (41 percent). So the law of supply and demand suggests prices for clothing may not be as deeply discounted as other items. In addition, high cotton prices may be reflected in higher clothing prices: see our recent story Expect Higher Holiday Prices for T-Shirts and Jeans.
Gift cards will be popular
Without one hot new toy or tech gadget for the holiday season, what will be the second most-popular present after clothing? Gift cards. Accenture says 57 percent of us will buy one as present, while "44 percent of consumers will buy up to three gift cards, and 85 percent will spend up to $50 on each gift card."
Gift cards seem like a great convenience, but as we've written about before, be careful.
Black Friday every day?
Accenture says more holiday shoppers (53 percent) will skip Black Friday - the day after Thanksgiving that marks the start of the holiday shopping season - than fight the crowds for deals. And the National Retail Federation's chief economist Jack Kleinhenz predicts, "Retailers are expected to compensate for this fundamental shift in shopper mentality by offering significant promotions throughout the holiday season and emphasizing value throughout their marketing efforts."
That's good news for those of us who don't relish the idea of parking our cars on the edges of our local malls and burning our Thanksgiving Day calories elbowing our neighbors for great deals.
"The growing ambivalence toward the traditional Black Friday shopping trip is being driven by a number of factors," says Janet Hoffman, managing director of Accenture's retail practice. "The increase in the number of homes with broadband Internet access means that many shoppers will prefer to stay at home and bag the offers online rather than brave the crowds."
But here's the scariest prediction of all, also from Hoffman: "Holiday shopping is now a 24/7 event." Ho oh no...
Are you looking for great deals? To find homes where you can get more for your money call us at 972-772-7000 or email us at rockwall@kw.com.
Showing posts with label holiday savings. Show all posts
Showing posts with label holiday savings. Show all posts
Wednesday, November 24, 2010
Monday, September 6, 2010
10 Tips to Help You Save $1,000 By The Holidays
Written By Stacy Johnson of Money Talks News
Provided By Shelley Dudley
If you're like many people, at the beginning of every year you resolve to get your finances in better shape by paying off debt and adding to your savings. But like many resolutions, the reality often doesn't meet the goal.
All is not lost. There are still five full months left in the year -- time for a quick review of simple ways to save. The goal? To set aside at least an extra thousand dollars by Christmas, without sacrificing your quality of life. Going on a "dollar-diet" is no way to get the job done -- painless savings are the only kind you should attempt because they're the only kind that work.
Simple Savings
Lower your cell phone bill. Potential savings: $100. If you're not using minutes you're paying for, switch to a cheaper plan. That could save you $20 a month, or $100 by Christmas.
Lose your land line. Potential savings: $140. If you find that your land line is gathering dust, lose it. And even if you want to keep your land line, if you have a broadband internet connection, get your phone service through it rather the phone company. A service like Magic Jack will give you unlimited calling for $2/month rather than the $30 you might be paying for traditional phone service providers.
Staycation instead of vacation. Potential savings: $1,000+. The savings from staying home vs. traveling for vacation are obvious. The trick is to maintain your quality of life while you do it. No working allowed. Turn off the computer and the phone. Relax, have fun, and take day trips exploring your local area.
Raise your insurance deductibles. Potential savings: $250. Raising your car and home insurance deductibles could have zero impact on your quality of life, but it could have a big impact on your savings. Decide what you can afford to pay out of pocket, spend a few minutes on the phone and see what you can save. Another way to save: shop your insurance and see if you can get a better deal.
Drop the gym. Potential savings: $150. Unless you're training for competition, a gym can be expensive overkill. You can buy cheap weights at yard sales or places like Play It Again Sports. Better yet, find them free at sites like craigslist or Freecycle. You can buy cheap workout videos and exercise in front of the TV, or get both exercise and fresh air by walking, jogging or biking in your neighborhood.
Drop premium cable channels -- or drop cable altogether. Potential savings: $50 - $600. One of the most popular stories we've done this year was "You Don't Have to Pay for Cable," a step-by-step guide to bypassing your cable company while still watching your favorite shows. Even if you decide against that, however, consider dropping premium channels. They're expensive and often filled with lousy fare anyway.
Sell Stuff. Potential earnings: $400+. If you're like most people, you've got clothes you don't wear, CDs you don't listen to, books you don't read, DVDs you don't watch, furniture you don't sit in -- you get the picture. Take it to a consignment shop or a swap meet; sell it online at or craigslist; have a yard sale. If nothing else, donate it and create a tax deduction. But don't mess up your quality of life by stressing out and trying to do everything at once. Pick one thing (or room) every month from now until the holidays, clear out the clutter and make some money!
Save on Food. Potential savings: $300+. The web is full of tips to save on food. Some will be obvious (use a list), but some might surprise you. For example, did you know that you might find groceries at 50% off at a salvage grocery store?
Haggle. Potential savings: $500+. According to this survey by Consumer Reports, negotiating a lower price is not only possible, it's likely. What can you negotiate? Pretty much everything. You can call your credit card company and ask for a better interest rate. You can ask for a lower price from your doctor. You can negotiate a lower price on your cable bill. The fact is, you can negotiate a lower price on anything from home electronics to hotel rooms.
Carry only cash: Potential savings: $250+. Try an experiment between now and the holidays. Carry only cash -- no plastic. This simple idea can easily result in major savings. The reasons are simple: If you carry only the cash you need to buy what you went out for, you'll avoid impulse buys. Plus, it's psychologically more difficult to spend actual money than "plastic" money.
Combine those ideas and you'll have at least an extra $1,000 by the time the holidays roll around. And if you need more ideas to make it work, the web is overflowing with hundreds, if not thousands, more.
The key is to carve out a little time, check out some resources, decide what you're willing to try, and get on with it. But remember to avoid anything that might make your life less enjoyable. The key to making it is making it easy on yourself. So if you want an extra grand by the time the holidays roll around, start today!
Are you saving to buy your perfect home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Provided By Shelley Dudley
If you're like many people, at the beginning of every year you resolve to get your finances in better shape by paying off debt and adding to your savings. But like many resolutions, the reality often doesn't meet the goal.
All is not lost. There are still five full months left in the year -- time for a quick review of simple ways to save. The goal? To set aside at least an extra thousand dollars by Christmas, without sacrificing your quality of life. Going on a "dollar-diet" is no way to get the job done -- painless savings are the only kind you should attempt because they're the only kind that work.
Simple Savings
Lower your cell phone bill. Potential savings: $100. If you're not using minutes you're paying for, switch to a cheaper plan. That could save you $20 a month, or $100 by Christmas.
Lose your land line. Potential savings: $140. If you find that your land line is gathering dust, lose it. And even if you want to keep your land line, if you have a broadband internet connection, get your phone service through it rather the phone company. A service like Magic Jack will give you unlimited calling for $2/month rather than the $30 you might be paying for traditional phone service providers.
Staycation instead of vacation. Potential savings: $1,000+. The savings from staying home vs. traveling for vacation are obvious. The trick is to maintain your quality of life while you do it. No working allowed. Turn off the computer and the phone. Relax, have fun, and take day trips exploring your local area.
Raise your insurance deductibles. Potential savings: $250. Raising your car and home insurance deductibles could have zero impact on your quality of life, but it could have a big impact on your savings. Decide what you can afford to pay out of pocket, spend a few minutes on the phone and see what you can save. Another way to save: shop your insurance and see if you can get a better deal.
Drop the gym. Potential savings: $150. Unless you're training for competition, a gym can be expensive overkill. You can buy cheap weights at yard sales or places like Play It Again Sports. Better yet, find them free at sites like craigslist or Freecycle. You can buy cheap workout videos and exercise in front of the TV, or get both exercise and fresh air by walking, jogging or biking in your neighborhood.
Drop premium cable channels -- or drop cable altogether. Potential savings: $50 - $600. One of the most popular stories we've done this year was "You Don't Have to Pay for Cable," a step-by-step guide to bypassing your cable company while still watching your favorite shows. Even if you decide against that, however, consider dropping premium channels. They're expensive and often filled with lousy fare anyway.
Sell Stuff. Potential earnings: $400+. If you're like most people, you've got clothes you don't wear, CDs you don't listen to, books you don't read, DVDs you don't watch, furniture you don't sit in -- you get the picture. Take it to a consignment shop or a swap meet; sell it online at or craigslist; have a yard sale. If nothing else, donate it and create a tax deduction. But don't mess up your quality of life by stressing out and trying to do everything at once. Pick one thing (or room) every month from now until the holidays, clear out the clutter and make some money!
Save on Food. Potential savings: $300+. The web is full of tips to save on food. Some will be obvious (use a list), but some might surprise you. For example, did you know that you might find groceries at 50% off at a salvage grocery store?
Haggle. Potential savings: $500+. According to this survey by Consumer Reports, negotiating a lower price is not only possible, it's likely. What can you negotiate? Pretty much everything. You can call your credit card company and ask for a better interest rate. You can ask for a lower price from your doctor. You can negotiate a lower price on your cable bill. The fact is, you can negotiate a lower price on anything from home electronics to hotel rooms.
Carry only cash: Potential savings: $250+. Try an experiment between now and the holidays. Carry only cash -- no plastic. This simple idea can easily result in major savings. The reasons are simple: If you carry only the cash you need to buy what you went out for, you'll avoid impulse buys. Plus, it's psychologically more difficult to spend actual money than "plastic" money.
Combine those ideas and you'll have at least an extra $1,000 by the time the holidays roll around. And if you need more ideas to make it work, the web is overflowing with hundreds, if not thousands, more.
The key is to carve out a little time, check out some resources, decide what you're willing to try, and get on with it. But remember to avoid anything that might make your life less enjoyable. The key to making it is making it easy on yourself. So if you want an extra grand by the time the holidays roll around, start today!
Are you saving to buy your perfect home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
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