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Were you there during the Beanie Baby Outbreak of ’95? How about the Great Furby Epidemic of ’98? If so, you have some experience when it comes to holiday gift-giving hysteria.
With the economy still in the doldrums, seasonal madness is subsiding. Consumers aren’t breaking down doors to pay a premium for the latest and greatest gadget. This year, shoppers are shifting toward more affordable and thoughtful presents. As you start to plan your Christmas list, consider some of these gift-giving trends.
1. The Latest Craze
Would you believe the hottest holiday item out there is a rectangular piece of plastic? According to a survey from the National Retail Federation, 57.7 percent of consumers want gift cards as holiday presents, putting their demand at an all-time high. Happily, you can find cheap gift cards at sites like GiftCardGranny, which sells them at less than face value. If you’re recipient isn’t totally satisified, they can always sell the card for cash on Gift Card Exchange Day, the one-day event scheduled for Dec. 26 when gift card resellers typically offer maximum value for unwanted cards.
2. An Experience
A close relative of the gift card, the daily deal voucher is making its own name this year. Vouchers allow you to pamper someone with a massage or provide an experience like skydiving without going over budget. If this kind of gift doesn’t seem personal enough, take some time to gather important details, like expiration dates and restrictions. This shows you put in more effort than simply clicking your mouse a few times.
3. What Goes Around Comes Around
Once taboo, re-gifting is now all the rage. It’s a great way to pass on presents you’ll never use to someone who’ll actually appreciate them. Re-gifting can be a risky venture, though. Make sure you haven’t lamented to the recipient how much you hate it or, worse yet, forgot they were the kind person who gave it to you in the first place. For some re-gifting tips and hilarious horror stories, check out Regiftable.com.
4. The Gift of Gifts
The true spirit of the season — kindness, generosity, caring — is slowly fading with each years’ Black Friday, doorbusting stampede. Break the cycle this year and extend your generosity to those in need. Sites like JustGive.org sell charity gift cards, where the recipient can donate their card’s balance to any of 1.8 million charities. Plus, when you give a charity gift card, you can write it off on your taxes.
5. Learn to Accessorize
The iPad 2 and Kindle are hot holiday items, but they’re gifts reserved for those with money to blow. When you can’t afford to give someone the gadget itself, you can still make their user experience more enjoyable. If you know someone is going all-in on an iPod, give them essential accessories like a case and headphones. They’re going to need them anyway, and it still shows you pay attention to things they value.
6. A Festivus for the Rest of Us
With so much attention focused on bank account balances, many are choosing to turn away from material goods. Instead of giving individual presents, host a holiday party. Just ask everyone to contribute something easy and affordable, like cookies or dip. This relieves the pressure of gift giving and provides quality time with the people you care about most. To make it a memorable celebration, try one of these Christmas theme party ideas.
7. The Easiest Gift of All
Though it sounds cliche, there’s no better present than the gift of time. Take a step back from indulgent gift giving and do something thoughtful. Rent a favorite movie of everyone in the family and then have an at-home movie marathon together. If you have a family full of foodies, plan a gourmet meal and enjoy each other’s company while it’s being cooked. Options are really only limited by your imagination.
Guest article provided by Andrea Woroch who is a consumer and money-saving expert and has been featured among such top news outlets as Good Morning America, NBC’s Today, MSNBC, New York Times, Kiplinger Personal Finance, CNNMoney and many more.
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A recent story by USA Today found the Credit CARD Act of 2009 is cutting down on card companies cashing in on college students. Cards issued through universities and alumni associations dropped by 17 percent in 2010. This benefits student spendaholics, but a lack of credit history is an obstacle for upcoming grads ready to finance a new car or upgrade their furniture.
Here are a few smart ways for students to start building credit history.
Credit Cards
We’re not suggesting students go out and open a bunch of credit cards, but some plastic used responsibly can go a long way towards creating good credit. There are several options for students to help avoid high interest rates and annual fees.
A secured credit card is one of the easiest for the credit-less to acquire and requires a deposit equal to the credit limit. Rates and fees vary, so comparison shopping is a must. Another option is to become an authorized user on a parents’ account. Students don’t have responsibility for the bill, but still get the benefits of on-time payments on their credit report.
PT Money put together a list of the best credit cards for students, making comparison shopping much easier.
Store Credit Cards
A merchant credit card is best used for the bare necessities of gas, groceries, etc. They help build a steady history of payment and fit easily within the framework of a budget. Most carry high interest rates so, ideally, you should pay off the balance each month.
Open a Bank Account
This is a given. It’s time to put the cash-only allowance policy to an end. While bank account information doesn’t appear on credit reports, lenders commonly request it to verify steady income. For those new to managing their own finances, Mint.com is a useful resource for tracking accounts and expenses.
Co-Signers
Parents or other close relatives are usually the best co-signer options. Having someone with established credit history co-sign a loan or credit card application leads to lower rates and a greater chance of approval while building credit for both parties.
Student Loans
Student loans aren’t ideal, but with the cost of tuition, sometimes they’re unavoidable. Typically they have low interest rates and don’t require repayment until after graduation, making them a good credit enhancer. The catch is no credit until payments come due.
Employment History
Jumping from job to job is pretty common in college, but sticking with one employer is ideal. Employment history appears on credit reports and lenders prefer to see someone who has stable employment with a steady increase in salary.
Pay Your Bills!
Paying card bills on time is the true key to good credit. If there’s a payment coming up and things are tight, don’t skip it. Cancel the cable, sell your gift card from Aunt Esther or pawn unused video games and movies. A few missed monthly payments can have a serious impact on a credit score for many years.
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Guest article written by Brandon Farestad-Rittel. He is a college-savings expert for Kinoli Inc.. Based on his own college experiences and extensive research, this recent graduate has covered a variety of topics, including the college selection process, for-profit colleges, and the modern era of textbooks.
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