KINGSPORT, Tenn. — While the days are ticking to get your shopping in, being patient could pay off.
News 5 spoke with a financial expert to find out how you can make the best of your holiday shopping season.
“It has been pretty difficult this year. We are just trying to plan ahead and just start early,” said Jamie Brown, a Tri-Cities shopper.
For Brown, this time of year can be stressful – spending more than $1000 on gifts for her family, friends and co-workers.
“[I’m] trying to buy a house so it’s kind of hard trying to figure out price ranges and trying to find all the good sales.
Financial planner Brian Brummett says, although the holiday spirt may be on the minds of many, being realistic needs to be a priority.
“With the price of things going up, the need to prioritize your spending and budget before you go shopping is definitely therethe average American is expected [to spend] $1000 on Christmas this year,” Brummett said.
He says, it’s important to keep your priorities straight.
“I think the most important thing is to realize that the people who really care about you they don’t want you to go into debt or have financial issues just to give them a gift,” he said.
Brummett says once you’ve established a budget, it’s important to stick with it.
“Don’t let those sales or those promotions tempt you to go about over spending and that will help you in a lot of ways; number one, it’ll help you not do those spontaneous compulsionary buys…also kind of bring it back to the meaning of not only the present, but the affordability of it.
Brummett recommends setting a budget before shopping. Preparing a list of who you need to buy for and what. He also says prioritizing your long-term financial needs is important.