Three Common Holiday Shopping Downfalls

There are at least three holidays shopping down falls consumers should try to avoid. One has to do with debit card use. Used to be the wonderful thing about debit cards was you could not overspend and have to pay high credit interest or bounced check fees.

Not so anymore. Banks that used to not let drafts go through when the money was not there now let it these charge go through and charge you anywhere from $25 to $35 dollars for the honor. It pays to really keep track of your balance. Especially, since charge goes through slower during the busy holiday season and you could find yourself owing a hundred bucks for thirty dollars worth of purchases.

Prepaid debit cards don’t have these fees even if they are through places like Account Now. They are harder to deposit into and many have service fees, but if you use your debit or your child does to control finances they might be a better deal than your bank.

The second holiday shopping hazard is door buster sales that are really bait and switch. Those really low priced holiday gifts are there to get you into the store. Most retailers will have more customers than sale item stock and they don’t give rain checks this time of year. If you can’t get up at 5 am to buy something on your must have list have a backup plan.

  Most retailers are relying on you coming to the store finding out the ‘deal’ is gone and buying a price item instead. Save yourself a few bucks and the headache and don’t just rely on ‘deals” for presents.  Most things will be lower after Christmas regardless and spend the extra cash now on must have gifts and don’t get caught up in bait and switch sales.

Gift cards seem like a good idea, but read the fine print. Some retailers have fees they charge the user of the gift card and the purchaser. Some gift cards cannot be used with coupons or on clearance sale items.  Some gift cards expire quickly or lose value if they are not used right away. Gift certificate to stores for certain items may be a better way to go. Some malls offer certificates that are good at all the retailers in the mall. These gift certificates are great for teenagers who may want to spend money at stores you have never even heard of.