Christmas shopping on a budget

December 12, 1:09 PMSF Personal Finance ExaminerSylvia DeFrance

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Traditionally we think of Christmas as a mad-dash of shopping with sprinkles of joy in finding just the right gift for each person on your list.  This year the feeling is quite a bit different.  It's the dread and drear of having some go without and hoping no one notices that the tree and presents this year are all a little smaller and less lavish.

So be it.  Let's shop on a budget and be practical.  It's alright.  Really.

Here are some simple tips to follow as you sprint to the finish line:

1. Take inventory of what you have in the way of clothes and toys.  Remove items that are too worn or have been outgrown.  Be sure they are clean and set them aside (important for later).  Do this for your own closet and the kid's.  No longer in need of the size 2 power suit with shoulder pads?  Set it aside.
2. Make a list of what's needed  Remember, there is a difference between need and want
3. Set a budget  Some people do this per person or total. 
4. Leave the credit card at home  Seriously.  Shop with cash.  Forget your desire to earn miles because you can't afford the trip to Hawaii next year anyway.  Don't tempt yourself by keeping plastic in-hand. If you buy online and put on a credit card, immediately transfer cash from your bank account to your credit card for the exact amount.  Don’t wait, just do it.  
5. Make a shopping plan  Start looking on eBay, Craigslist and local consignment shops.  Shop at stores with layaway plans to help pay over time (rather than on credit).  Place a ‘wanted’ listing on Craigslist (it’s free) to see what you come up with.

I am in need of gently used size x boys/girls clothing. If your son/daughter has outgrown his/hers and you were looking for a good home, please let me know. Ideally I’d like a bag of clothes - pants, shorts, shirts, sweaters/pullovers for a fixed price ($x for the whole bag)

How to pay for it…Remember in step 1 we set some items aside?  List them on Craigslist (free), eBay (small fee) or take them to a local consignment shop.  Consignment shops are doing brisk business in this economic downturn with many people taking items in for cash making the inventory levels higher and more choice for you the thrifty shopper.