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(HealthNewsDigest.com) – Richmond — The holidays are an exciting time, but they can also be expensive. Many people have tightened their belts during the last year because of the troubled economy, but that doesn’t mean you have to miss the joy of giving presents to loved ones or indulging in fun celebrations. The Virginia Society of Certified Public Accountants (VSCPA) advises that there are some smart steps you can take to ensure that you are a savvy shopper even during what can be a costly season of the year.
Make a list … and a budget
It’s always a good idea to bring a shopping list with you when you go to a store, whether you’re purchasing groceries or on the way to the mall. That’s because you’re less likely to make impulse purchases when you have a clear shopping agenda in mind. But before you get to that list, you first should prepare a budget that spells out how much money you can realistically afford to spend on holiday gifts this year. Then decide what you plan to spend on each person on your list.
Consider the extras
As part of the budgeting and list-making process, remember to include the cost of wrapping paper, mailing, decorations, holiday cards and any other expenses associated with the holiday season. That way you won’t face any unwelcome surprises.
Monitor your spending
A budget and a shopping list are great tools, but be sure to keep a record of how much you are actually spending as you go along to see that you are not exceeding your budget or buying more than you intended.
Take advantage of sales
Many retailers have sales at this time of year, so it’s a good idea to shop around and determine who has the best price. But keep in mind that a low price does not always mean a good value. It’s best to compare prices at several different retailers because a “sale” item at one store may still cost more than the same merchandise at another shop. If you know you can get a better deal elsewhere, see if the retailer will match or beat the lower price. Remember, too, that a purchase is not really a bargain if it isn’t truly what you need or doesn’t suit the person receiving the gift. Hold on to your receipts in case a return is necessary and ask for gift receipts so recipients can exchange a present that isn’t right for them.
Watch your wallet
All your careful planning may not matter if you fall victim to a crime. And that’s quite possible at this time of year, because the holiday shopping rush tends to attract pickpockets and other thieves intent on separating you from your money or valuables. Be sure to store your wallet in a secure place that would be difficult for a pickpocket to get to, and hold on to it when you make a transaction. Also remember to get your credit or debit card back from the salesperson after every purchase. And don’t leave your packages unattended when you’re buying something, as they may disappear while you’re distracted.
Turn to your CPA
Prudent spending at the holidays is one of many smart steps you can take to make the most of your money. If you want to learn more ways to spend wisely, remember that your local CPA can help. Your CPA can answer any of your questions about financial issues facing your family.
Consumers can find more money management tips and free resources at www.FinancialFitness.org.
The Virginia Society of Certified Public Accountants (VSCPA) is the leading professional association dedicated to enhancing the success of CPAs. Founded in 1909, the VSCPA has 8,700 members who work in public accounting, industry, government and education. The VSCPA is celebrating its Centennial anniversary this year — 100 years of an organized CPA profession and a strong organization uniting and representing CPAs across the Commonwealth. Visit www.vscpa.com/Centennial to learn more about the VSCPA’s Centennial Celebration. For general information, please visit the Press Room on the VSCPA website at www.vscpa.com, e-mail [email protected] or call (804) 612-9424. To search for a CPA in your geographic region, visit www.FinancialFitness.org and click on “Find a CPA.”
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