Identifying ways to avoid self-gifting is key to the season of giving, not getting. Test-drive the following strategies the next time you feel tempted to treat yourself.
As you collect gifts for loved ones on your list, you may find yourself increasingly tempted to pick up a few items for yourself. Between sale prices and the jolt of pleasure you receive when you acquire something new, the holiday season can be a perilous time for your budget. It’s also much easier to purchase items for yourself than it is to make thoughtful gift selections for others.
In fact, half of the respondents to Deloitte’s annual holiday survey said they planned to pick up gifts for themselves as they shopped for others, with 65 percent of holiday budgets going toward clothing, home furnishings and social events.
While not all these expenses can be considered self-gifts, they certainly represent a disproportionate amount of money being spent on personal pursuits.
Identifying ways to avoid self-gifting is key to staying on budget and reestablishing the holidays as a season of giving, not getting. Test-drive the following strategies the next time you feel tempted to treat yourself.
Recognize the game. Retail stores are purposefully placing products and platforms in their stores to increase impulse purchases. Sodas and candy bars aren’t the only customer concerns at checkout these days, with such stores as T.J. Maxx lining checkout aisles with everything from candles to kitchen goods. This season, both Target and JCPenney have kiosks featuring inexpensive items, including festive socks, beauty products and coloring books. Recognizing the strategies retailers use to tempt you into making additional purchases can help you keep your distance from them. When you find yourself reaching for an unplanned purchase, make a note of the item and walk away. It’s likely the urgency to make the purchase will disappear as soon as you leave the store. (Photo: AP)
[See: 12 Shopping Tricks to Keep You Under Budget.]
Create a holiday wish list. As you make your way through the stores and websites for gifts, make a list of the items you want for yourself. When someone inevitably asks what you’d like to receive as a gift for the holidays, you’ll have some ideas ready. Presumably, you’ll find that much of what you record is a result of items you only wanted in the moment.
(Photo: Getty Images/iStockphoto/a_namenko)
Photo: Getty Images/iStockphoto/a_namenko
Budget for self-gifts. Buying items for yourself during the highly promotional holiday season is not a poor strategy from a budget perspective. Many products are heavily discounted and can make for smart purchases when included in the budget ahead of time. By allotting sufficient funds for personal purchases, you can benefit from sale prices without cannibalizing what you’ve budgeted for gifts. If it’s too late to amend your holiday budget this year, make note of the type of items that are on sale and work on creating a more inclusive budget for next season. The urgency created by retailers makes it seem like the products you’re seeing will never be available at discount prices again, but in reality you’ll see most of the same items on sale next year.
(Photo: Getty Images/iStockphoto/victoshafoto)
Photo: Getty Images/iStockphoto/victoshafoto
Research price histories. Avoid being seduced by the siren song of holiday deals by staying informed. When you research price histories through such tools as Honey and CamelCamelCamel.com (for Amazon products), you’ll know whether the advertised sale is indeed the lowest price. In many cases, you’ll discover saving your money for post-holiday discounts is the savvier option. (Photo: AP Photo/Ross D. Franklin, file)
[See: 10 Signs You Shop Too Much.]
Make a small purchase. If you’re dying to treat yourself while you shop, consider making a small purchase that won’t break your budget. Examples include a festive treat such as a specialty coffee or holiday sweet. By indulging your desire to buy something for yourself, you may be less desirous to splurge on something bigger.
(Photo: Starbucks/Joshua Trujillo)
Photo: Starbucks/Joshua Trujillo
Re-gift self-gifts. Elation over a gift you purchase for yourself can quickly turn into remorse, especially if you’re on a tight budget. Not all is lost, however. You can always return the gift and use the funds for their intended purpose or give the item to someone on your list. There’s probably someone in your network with similar taste who will enjoy the item, too.
(Photo: Getty Images/iStockphoto/-slav-)
Photo: Getty Images/iStockphoto/-slav-
Distract yourself. Consider the many ways you can distract yourself from impulse buys while you’re window-shopping or waiting in line. Make this time productive by taking note of the gifts you’re about to buy and crossing them off your list. Organize receipts, so you have all your holiday spending purchase orders in one place, should you need them for returns later. You can even pop in your headphones and listen to festive or favorite tunes to drown out the din of the shopping masses.
(Photo: AP/Hyosub Shin)
Photo: AP/Hyosub Shin
Shop after the holidays. There are plenty of big sales after the holidays, starting as early as Dec. 26. Between returns and gift-card spending, the week after Christmas is one of the busiest shopping times of the year. What’s more, January brings in deep discounts on holiday decor, winter apparel, shoes, and even bedding and TVs. By treating yourself after the busy shopping season, you’ll still find bargains and possibly use holiday money instead of busting your budget.
(Photo: AP/Charlie Riedel)
