Christmas isn't too far behind us and when you think about how quickly a year goes by, it is fair to say that it isn't too far ahead of us either. However, many of us are still hanging on to those gift cards we received, waiting for the right opportunity to spend them and figure out how to spend them. Chances are you received store-specific gift cards to your favorite music or movie store, which means you can spend them only on the items within that store.
Nevertheless, more people are buying universal gift cards (usually issued by Visa, MasterCard, and American Express) at department stores and malls to allow the gift recipient to spend their gift card wherever they would like. When you've got the store-specific cards to buy clothes and other specialty items, you can take your universal gift card and spend it on whatever you like. This gives you the chance to go to the mall and shop at multiple stores. You can tote around your shopping bags like you own the place. However, you can't forget about the music and DVD store. Two of the most common items that universal gift cards are used to purchase are CDs and DVDs.
Instead of spending three days trying to illegally download a movie off of the internet, you can simply take your gift card and buy the real thing. The same goes for CDs. With the enforcement of piracy laws, more and more people are getting in trouble for downloading movies and music off the internet, so to avoid hefty fines and embarrassment; it is a good idea to take that gift card and buy the music and the movies that you want.
Also, buying movies and DVDs rather than downloading them reduces the chances that your computer will contract a virus as a result of the download. At one time, contracting viruses from downloads was not really a concern, but it was just a matter of time. But by using your Christmas gift card to buy your CDs and DVDs, you are protecting yourself by not getting caught for illegally downloading movies and music, and you are not putting your computer at risk. Both of these can be very costly, and all for the chance to acquire a movie for free.
Open yourself up to new entertainment possibilities. Buy a movie you always wanted to see or buy the CD of that artist you thought sounded great on the radio. Of course there are other items you can purchase with your Christmas gift card. No one can tell you how to spend it, but there are so many possibilities that exist when it comes to CDs and DVDs that there is always something that everyone likes because there's plenty to choose from..
Just be sure to spend the gift card on yourself. So many people decide that they don't want to purchase something that they can use and they will buy an item for their significant other, their parents, or a friend. The gift card was given to you as a gift to buy what you want. It wasn't given to you to buy what someone else wants. You want that CD, all you have to do is buy it. If you want that DVD, go for it. No one can tell you how to spend your gift card.
So go into the clothing stores, buy a new outfit with your store-specific card. Go to your favorite bath and body store for some new scents, and then head over to your favorite entertainment store to get the CD or a DVD. Have a little fun.
How To Spend Christmas
Children aren't the only ones who have a hard time waiting for Christmas. For retailers everywhere, it's the most important time of year ? the time when shoppers are most likely to throw caution to the wind and really splash out. In 2006, for example, December's credit card borrowing accounted for 60% of the annual total.
So the retail industry held its collective breath as we approached Christmas 2007 with shrinking disposable incomes and credit increasingly hard to come by. Some analysts thought that financial uncertainty would lead shoppers to cut back on their Christmas spending. Others predicted they'd be more likely than ever to treat themselves during this once-a-year festival of good living and bad judgment.
It turned out that the second group was right, largely thanks to a last-minute burst of spending. According to MasterCard, Christmas shoppers spent 3.8% more in 2007 than in 2006 ? the biggest increase in the last three years. Market research firm IMRG reported that 4.4 million people went shopping online on Christmas Day itself, spending ?84 million, or 269% more than last year! And according to Experian's Retail Footfall Index, numbers of Boxing Day shoppers were up 25.1% compared with 2006.
However, now that the party's over?
Poor start to a New Year
For some, a penny-pinching New Year is a price well worth paying for all the festive celebrations. Others find that a few days of fun simply cost too much, and promise themselves they'll cut back this year ? so the Christmas season can be a valuable wake-up call, emphasizing the need to stop living beyond our means and get our debts under control.
For increasing numbers of people, paying for Christmas is far more serious than a few hefty repayments. Fees for unauthorised overdrafts, charges for bounced payments, maxed-out store cards with interest rates of 25% or more ? it can all add up to a lot of money and a lot of hassle. A MoneyExpert report found that 10% of almost 2,000 respondents were still paying off credit card debts from Christmas 2006 as they entered December 2007!
Why do we do it?
Why do so many of us feel compelled to blow our budgets at Christmas? Advertising? Experts reckon that marketing during the festive season cost around half a billion pounds. Peer pressure? 47% of CreditExpert's respondents felt there is social pressure to buy expensive presents. Or is it simply a feeling that we owe it to our partners, to our kids, or to ourselves?
Resisting the urge to splurge is never easy, especially in a society that's grown more and more used to easy credit ? but whatever the reasons, it's the individual who decides what to spend, and the individual who foots the bill. A bit of self-control can save us from a serious financial 'hangover' when the party's over.
One thing's for sure: a lot of people would be enjoying a better start to the New Year if they'd spent just a little less enjoying the end of the old one.
Both Elizabeth Murphy & Melanie Taylor are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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