Methods to Avoid Overspending for Christmas Gifts

With the holidays fast approaching and the economy has not improved most of us will need to be a little more cautious about over-spending. It is always a challenge to save money while shopping for the perfect gift.

Holiday shopping is often the time to get taken in on sneaky retailer tricks that try to make you think you are saving on their special prices.

The day after Thanksgiving, Black Friday, is followed by Cyber Monday, therefore, you will need to be careful not to fall into one of the many retail traps. Some stores may have merchandise on sale all the time and if you do some smart shopping you may find that you can beat their everyday on-sale price. Many discount stores sell products below the manufactured suggested retail price and when they have additional specials you may find a product at a fair price and actually save dollars.

Shopping at the mall, specialty stores or online requires some comparison shopping. Include shipping and handling cost when comparing online stores to local retailers. If you miss a door buster sale, you could request a rain-check or sign up for e-mail alerts of upcoming sales at your favorite stores.

Although, there are new federal rules on gift cards that limit charge fees and expiration dates, stores issuing cards can still charge a fee to buy gift cards. Inactivity and service fees can only be charged if the card has not been used for at least one year of issue date. Bank-issued cards with a credit-card logo usually have fees added, therefore expect to pay an extra $3 to $7 for American Express or other bank gift cards.

Instead of purchasing an expensive gift card, consider giving cash or a check, cash does not expire and if the check is not cashed, the money stays in you account.

It is important to inquire about return policies and restocking fees. Some companies may have different return and restocking requirements. Always keep the receipts, the original package or container. If the gift was purchased from mail order catalog or a web-site you will need the receipt, and the retailers enclosed mailing label.

When gift shopping designate a place for keeping all receipts, and it is wise to make a note with the name of the person receiving the gift and any information regarding the place of purchase, such as location of store or e-mail address, phone numbers and confirmation numbers if available.

Restocking on electronics and special orders may be subject to restocking fees of up to 25 percent. Computer software, music CDs and DVD movies may not be returnable. You may be able to negotiate a restocking fee and you do not have to pay any fees if the item is defective.

Shopping for gifts for your loved ones is fun and can be challenging. The retailer is there to make sales, and we have to be prepared for their sales gimmick's.