Consumer Money Resource Bills.com Shares Tips for an All-Cash Holiday

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-- As the economy continues to falter, Bills.com provides consumers with two-pronged strategy for saving money during upcoming holiday season --

SAN MATEO, Calif. – Sept. 14, 2010 –

Low consumer confidence and less thanexpected back-to-school spending are reliable indicators that consumers plan tobe conservative with their wallets this holiday shopping season. To help thoseplanning to shop on a budget, consumer money resource Bills.com today shared tipsfor an all-cash holiday shopping season.

“The holidaysare a difficult time for those on a budget because they want to share in theseason with loved ones, but they must also watch every dollar closely,” saidEthan Ewing, president of Bills.com. “The best way to avoid headaches this yearis to plan for an all-cash holiday. It will leave you with no debt but plentyof holiday cheer.”

To begin savingfor an all-cash holiday, Bills.com recommends a two-pronged approach:

1. Begin Saving Now:

Identify theways in which you can reduce your monthly spending now to put money awaytowards your holiday budget later.

·       

Dial back your cell phone plan:

By reducing your plan to the next tierof minutes or limiting the number of texts you send for the next three monthsyou can save a substantial amount of money. Rely more on email or a landlinefor this short period while you save for the holidays.

·       

Brown bag it:

Eating out every day for lunch can leadto big expenses. Packing a lunch at home uses a fraction of the dollars and cansave hundreds of dollars over the next three months. 

·       

Grab officefreebies:

For those in the know, the office provides some simple ways to savemoney every day. Drink free kitchen coffee instead of buying a latte orpatronize the water cooler instead of buying a bottle of water.

·       

Bike it orbus it:

Put the car in the garage for the next few months in favor of yourbike or public transportation. In addition to saving money on gas and parkingexpenses, you could even get some extra exercise.

·       

Cut thecord:

By opting for free online content or low dollar subscription serviceslike Netflix instead of hefty monthly cable or satellite television bills,consumers can save hundreds of dollars between now and the holiday season.

·       

A couponlifestyle:

Break out the coupons to shave money off your grocery bill. Searchonline and in the newspaper for ways to find additional savings. 

·       

Find cheaperentertainment:

Consider Redbox for new DVD releases instead of heading to the movietheater. For avid readers, save the cost of a new book by visiting your locallibrary.

·       

Automate andforget it:

To make sure that this savings remains saved, open up an automaticsavings account. Craft a budget to determine your potential savings and thenhave it automatically taken from your paycheck or checking account.

 

2. Shop Smart:

With cash inhand, you can use these strategies to better handle your holiday wish list, savingyou time, money and stress to better enjoy the holiday season.

·       

Make a list and set a budget:

List the people you plan to buy gifts for, the type of gifts you plan to buy,and how much you plan to spend. Include the cost of cash gifts, holiday travel,extra food, wrappings, decorations, greeting cards, and postage.

·       

Buy early:

Avoid the holiday crush by shopping for gifts early. You’ll oftenfind that they can be cheaper this far in advance and that hot gift items arestill on the shelf.

·                 

Look for price-matching policies

:Some merchants will match, or even beat, a competitor’s prices. Talk to your localretailers to see if they can match or beat an online price.

·        

Go online:

Take advantageof price comparison websites and mobile shopping applications. If you decide tobuy from an online merchant, keep shipping costs and delivery time in mind.

·       

Beware package deals:

Carefullyconsider bargain offers

that are based on thepurchase of additional merchandise (i.e. “Buy one, get one free” or “Free giftwith purchase”). If you don’t need the extra item, it’s not a deal.

·       

Layaway is new again

: Take advantage of store layaway plans. It’s aninterest-free way to buy larger items this year and also make sure that the hotgift you want is still in stock.

·       

Leavethe credit card at home:

Now that you’ve saved up a large cashreserve and purchased most of your items already, be sure to leave the creditcard at home for any last minute store visits. You’ll avoid temptation and stayon budget with only your debit card or checkbook.

·       

Ship early.

If you’resending gifts to out-of-towners, factor in extra time for shipping. If you waituntil the last minute, you may pay a hefty price for express or overnightshipping.

“Plan to savenow and shop smart for an all cash, no credit holiday that will help you avoida holiday financial hangover,” continued Mr. Ewing.

For more tips onholiday shopping or to ask a Bills.com financial expert your money question,visit

http://www.bills.com

.

About Bills.com

Bills.com is the leading resource for free and personalized moneyhelp. Founded by a group of financial experts dedicated to helping consumerssave time, money and stress, Bills.com is designed to give consumers confidencein making money decisions. The site offers useful information, powerful tools,and real money experts to give consumers the information they need in the waythat they want it.

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