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Holiday Shopping and Money Stress

When the American Psychological Association surveyed the American public over what aspect of the winter holidays causes the most stress, 61% responded that lack of enough money was their top of the list choice. And that’s not so surprising, the second most cause of difficulty sleeping in America is worry over money problems.

But what’s even more surprising is that younger Americans (under 35) have more worries about lack of money for gift giving than their older peers. And so many people reduce their stress over this issue by indulging in comfort eating and drinking.  

Guidelines

So here are some helpful guidelines concerning holiday spending that can not only reduce your anxiety about money, but can also help prevent those comfort-indulging behaviors that leave you overweight and not feeling good about yourself:

Set a Budget

Determine an overall budget that you can live with for holiday gifts. It is suggested that you aim low, as circumstances usually force you to inch higher. According to the American Bankers Association, it takes the average credit card purchaser four months to payoff holiday spending. When you overspend, you pay for it financially and emotionally for months after.

Don’t Try and Put a Price on Love

What really counts is that you remember loved ones and show your appreciation through a gift. The cost of the gift does not translate into how much you love them! What matters is the thought you put into it, meaning select something that demonstrates that you know their tastes. Even a small gift that hits the mark is more memorable to someone than a more expensive gift that’s not to their liking.

Ask Your Loved One What They Would Like

If this is possible, it serves you two ways. First, the gift will be what they really want. Second, since they care about you, they won’t select something way out of your price range.

Shop Early

This way, there’ll be a wide range of choices still available. Retailers count on the holidays to sell out their merchandise. Late shopping means more frustration for you and, perhaps, higher prices on the compromise gift.  

Check the Internet for Better Prices

Internet companies can discount more than regular retailers because they have little overhead. With online shopping, you can survey many companies for the same item right at home. There are a lot of deals out there.

Shopping at Peak Times is Torture

You already have enough stress on your hands, why double it?

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Sources: Shopping Centers in the Brain Neuron 2007 Jan 4;53(1):7-8 Nucleus Accumbens Activation Mediates the Influence of Reward Cues on Financial Risk Taking Neuroreport 2008 Mar 26;19(5):509-13 Preventing Holiday Shopping Headaches Federal Trade Commission (www.pueblo.gsa.gov/cfocus/cfholidayshopping) 10 Tips for Smart Holiday Shopping Online FTC Consumer Alert (www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt082.shtm)

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