In a few weeks we will celebrate Thanksgiving and the ‘official’ start of the holiday buying season beginning with the infamous ‘Black Friday.’ With the economy still struggling and many people still out of work, it will be tougher to find the funds we would like to have to spend on those presents that we want to give. As students, we have it tough during normal times, let alone during a bad economy and the holiday season. We want to share the spirit with those we care for but wonder how to afford it.
Let us not forget that the true meaning of the season is sharing and caring, not just buying stuff and racking up more debt. Sure, the stores offer us the great savings on ‘Black Friday.’ We stand in line in a parking lot at 3am after stuffing ourselves with turkey and fixings just a few hours before. In a sleep deprived stupor we rush in like cattle with the rest of the bargain hunters and grab the first cheap item we see. Or worse, fight someone for the last ‘toy of the year’ that the kids just gotta have! So, this year, especially as students, we should think about shopping smarter and giving gifts that will have meaning and be something that someone can really use.
There are numerous companies out there that offer fabulous discounts on food, products and services that would be a welcome gift. Look at Groupon, Living Social and, the one I really like to use, Restaurant.com, for offers that are inexpensive for you but allow some wonderful savings for those who use them. At Restaurant.com, I have purchased coupons worth $25.00 at good restaurants for only $3.00. Another plus to this is that by using the coupons and frequenting these local establishments, you are helping to improve the economy here at home by securing local jobs and employment through commerce.
The infamous Entertainment coupon book is a real bargain. For $25-$35 you can give someone hundreds of dollars of savings. Another good point is that by using these offers, people may try a new restaurant, store or service they never would have thought about using. Between now and Christmas, consider stopping by one of the many local craft fairs in the Chicago-land area. Some unknown but talented artisan may have something handmade and truly unique for you, often at a reasonable price. It is a win-win because you get something that is not mass-produced or foreign-made and you keep your hard-earned money in the community.
When you are just dying to whip out that credit card, take a moment and think about how you will really pay for your purchase when you factor in the payments with interest. Will you still be paying the debt off when the item is gone and forgotten? Those student loan payments are also waiting for you when you leave here, so make sure you do not back yourself into a financial corner. Believe me, I know you may think that it is only $30 here and $50 there but those smaller purchases on credit cards add up. Before you know it, you are carrying a balance of several thousand dollars that is accruing interest every month. So, in conclusion, I say enjoy the holidays and get into the spirit but buy smart and shop savvy. You can get great gifts, help improve the local economy and community and not dig yourself too deep in debt.