Maggie: It is holiday shopping season, but all that gift giving can get expensive. Luckily, Shelby Holliday is here to show you how to get the biggest bang for your holiday buck.
Shelby: The halls are decked, the sale signs are up and the wish lists are long! The days after Thanksgiving make up the busiest shopping weekend of the year.
What are you asking for this holiday season?
Amari Moore: Clothes. Nice clothes, like Nikes.
Mitch Long: I kind of want the iPhone 5s.
Davion Smalls: Xbox One, PS4.
Shelby: With tech products like the iPhone and Xbox topping this year’s list of most popular gifts, those presents under your tree won’t come cheap. In fact, Americans are expected to spend $602 billion this holiday season, up nearly 4% from 2012. And it is not just parents who will be buying.
Do you know how much you plan on spending this holiday season?
Hunter Taylor: About $300 probably.
Jhonni Benitez: $500 to $1,000.
Shelby: Have you thought about it?
Shelby: A lot of teenagers say they will spend more than $100 on gifts this year. And if you are a smart shopper, you can stretch your dollar to score bigger and better presents.
So how can you get more bang for your buck? Well, first start with a budget. It might sound simple but people start buying gifts first, then realize they are out of money before they are done shopping. So come up with a budget, make a list of who you want to buy gifts for, and then decide how much you want to spend on each person.
The next step is to find the best price. Companies advertise promotions in emails and on social networks like Facebook, Twitter and Instagram.
Mitch: They’ll have the little…like, Hollister or American Eagle will have their ads on there and you’ll see it.
Yasmine Fahmy: I prefer to buy in-store, but online and social media definitely trigger me getting to the store.
Shelby: Smartphones can also help smart shoppers in-stores, and there are a bunch of new apps to help you pick the best gifts. At the mall, the Shopular app alerts you about deals at nearby stores. Apps like Shop Savvy and Red Laser let you scan bar codes to make sure you are getting the best price on a product. And the Key Ring app lets you scan loyalty cards into your phone so you don’t have to carry all that plastic.
Finally, if you can handle the madness, take advantage of Black Friday and Cyber Monday. There are six fewer shopping days between Thanksgiving and Christmas this year, so stores are going big on the sales to bring shoppers in. Companies like Best Buy, Wal-Mart and Target have already started advertising lower prices. Amazon is rolling out new deals every single day.
Of the 140 million people who plan to shop this Thanksgiving weekend, teens and young adults are expected to dominate stores and malls.
Davion: I feel like Black Friday, and I need a group just in case, so I don’t get trampled, I will bring my friends.
Shelby: You will bring your crew?
Shelby Holliday, Channel One News.
Maggie: Now we want to hear your advice. Do you have a money-saving strategy for the holidays? Head on over to Channelone.com and give us your best tips. We will put our favorites on tomorrow’s show and together we will all be saving some money this holiday season.