Enjoy shopping, but shop smart, don't overspend

In the wake of this year’s economic downturn, today very well could be the mother of all Black Friday’s, the day after Thanksgiving in which retailers slash prices to kick start the holiday shopping frenzy.

Starting in the pre-dawn hours, shoppers are expected to flood malls and stores in search of deep discounts on everything from clothing to video games. And while it remains to be seen just how wide shoppers open their wallets during these tough economic times, it’s a good bet that cash registers will be ringing.

Americans, after all, love to shop. And the holidays are by far our weakness.

However, before you stand in long lines outside a store hoping to get your hands on a door buster or checkout lines that wrap around the inside of a store twice, remember this: Consumer irresponsibility — purchasing more than one can afford — is part of the blame for our current economic crisis.
Black Friday is a shopper’s smorgasbord. It’s a day when our eyes can see more sales than our bank accounts can stomach.

And just as someone who purchases more home or more car than they can afford ultimately hurts the economy so does someone purchasing, say, a bigger television than they can afford even when the deal is a sweet one.

That doesn’t mean stay home today. The economy will benefit from whatever you can spend. It just means make sure your finances are in order before you hit the stores and you stick to a budget when filling your shopping cart.

If you’ve set aside a certain amount of cash for holiday spending, then stick to that amount. If you’re planning to use credit cards and special financing offers from stores, make sure you have a good gauge of your future financial situation when those bills will come due and shop with a budget based on that.

To help you stick to your budget, make a list of people you will buy for and how much money you will spend on each person.

If you plan to splurge on yourself, too, then budget a set amount for yourself on the list. Don’t stray from the list with impulse purchases.

While you’re shopping, keep a running total of how much you’re spending on a calculator. When you’ve reached your budget limit, it’s time to head home.

If you find that you aren’t able to purchase gifts for everyone on your list, be creative. Some of the greatest gifts cost little or no money. Make a dish or dessert for someone. Put together a photo slide show set to music or a homemade movie and burn it to a CD or DVD. Make coupons that offer your services for things such as yard work, a car wash or baby-sitting.

Whatever your budget, the spirit of giving means more than the monetary value of the gifts you give. If we remember that then we should be able to responsibly do our part to give the economy a boost while enjoying the holiday season.