How to be a financially savvy holiday shopper
Post Reports
The Washington Post
4.4 • 5.1K Ratings
🗓️ 22 November 2023
⏱️ 23 minutes
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Summary
Today on “Post Reports,” personal finance columnist Michelle Singletary gives advice on how to avoid overspending on gifts this holiday season.
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Last year, retail sales during the November to December holiday season were $936.3 billion, according to the National Retail Federation. Americans are predicted to spend even more this year. Adobe Analytics projects the best discounts will land on Black Friday and Cyber Monday. But a flashy red sale sign doesn’t always mean you’re getting a bargain.
Personal finance columnist Michelle Singletary says we can avoid overspending on gifts by cutting down on our list, shopping earlier, and sticking to a budget. She also shares ideas for meaningful gifts from the heart that won’t break the bank. You can also sign up for her free SMS course, “How to be a financially savvy holiday shopper.” Michelle will send you a short text message every day for five days to make sure you’re spending with purpose this holiday season. You can sign up by following this link.
And subscribe to The Washington Post via Apple podcasts here.
Transcript
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| 0:00.0 | So one year I let my sister talk me into going a shopping like at I don't know four or five o'clock or some crazy hour. |
| 0:21.1 | It was cold, it was a lot of people and I said never again. |
| 0:30.0 | You know, we were all like pressing up against the door ready for them to open and it was just sort of chaotic and I would have much rather had stayed in my bed. So I am not one of those folks that have to be out there first thing in the |
| 0:35.3 | morning when the doors open. That's Michelle Singletary, Personal Finance |
| 0:40.8 | columnist for the Post, and she's talking about that big American |
| 0:44.9 | annual tradition Black Friday. It's one of the biggest shopping days of the year |
| 0:50.2 | and it makes some people do crazy things. |
| 0:54.0 | Yeah, there's some sort of thrill about that, right? |
| 0:58.0 | Like the thrill of a deal. |
| 1:00.0 | For some people, yeah. |
| 1:02.0 | But not me. |
| 1:06.5 | Obviously that's not the case for a lot of people. |
| 1:09.4 | Tens of millions of Americans will be shopping this weekend. |
| 1:13.2 | But whether you're braving a mall or doing all you're buying online, |
| 1:17.1 | Michelle has a warning. |
| 1:18.9 | Just because something is on sale doesn't mean it's a bargain. |
| 1:23.0 | So you know they talk about how people get charged up because they want to get that |
| 1:28.0 | discount and it's almost like they're you know if you got a really good cup of coffee and you're just like, |
| 1:34.4 | uh-uh. And that's how they feel with the deal. But if you really know how this stuff works, |
| 1:41.2 | you're really not getting a deal. |
| 1:43.5 | So how does all of this stuff work? |
| 1:48.1 | And how can we do our shopping without maxing out our credit cards and going crazy? our |
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