YONKERS, NY — With Christmas less than a week away, Tod Marks, Consumer Reports’ shopping expert  and author of the Tightwad Tod blog (www.ConsumerReports.org/tightwadtod), is sharing some advice that can help last-minute shoppers stay focused so they don’t get stressed-out and go overboard with their purchases. 

“If you haven’t finished — or even begun — to shop for the holidays, take a deep breathe and relax. Unprecedented bargains are out there to be had, both online and in stores,” says Mr. Marks.  “And there’s no reason to assume that the deep discounting, wheeling and dealing is going to stop any time soon. You have plenty of options.”

1. Don’t panic. There has been unprecedented price-cutting and perks like free- or reduced- price shipping, buy-one-get one free deals, and flat percentage discounts off purchases of a specific dollar amount and it’s unlikely these deals will end any time soon. Many cash-strapped Americans Consumer Reports  surveyed plan to wait until after Christmas to buy big-ticket items like HD television sets because they think prices will drop further. If inventories remain large, the deals might be sweeter down the road.
2. Stick to your budget. The temptation to run out to the store hours before Christmas is powerful. And that’s when shoppers are most vulnerable to go way off budget to buy some bauble or extravagance without the proper thought. Step back and take a deep breath. If time is running out and there are still names to cross off the list, read on.
3. Give the gift of time.  Many people have less to spend on gifts this year than in past due to tough economic times. Consumers who are cutting their spending – and 37 percent of the people in Consumer Reports' survey said they planned to – should consider alternative ideas. Offer to baby sit for a couple that rarely has a chance for a night out or to take over some everyday chores for someone at home – these gestures are bound to be appreciated by the recipients.
4. Consider a creative gift. Homemade gifts are can help cut down on expenses without compromising on generosity.   In Consumer Reports' most recent Holiday Poll, 14 percent of those surveyed said they plan to give handmade gifts instead of store-bought ones. Cooks or bakers should consider preparing one of their specialties or putting together a customized fruit basket.  Another great gift idea is a framed photo collage or calendar with pictures of the family.
5. Avoid piling up debt. Americans are still carrying $12 billion worth of credit-card debt from last year’s holidays, and even more consumers are planning to put their purchases on plastic this year. Even worse, two-thirds of those surveyed said they don’t expect to pay off this year’s holiday bills until March or later. With charge-card interest rates at around 11 to 12 percent, those monthly payments could put a stranglehold on finances.  Whenever possible, pay by cash or check. When using a debit cards, be careful not to overdraw the account and risk getting slammed by hefty overdraft fees.
6. Know when to stop. Once you’ve gotten something for everyone on your list, stop shopping. Avoid the temptation to keep searching for that one perfect gift. More time in the mall – or in front of the keyboard – means more spending.
7. Send it overnight. Next-day shipping can cost a bundle, but it buys you a few extra days. This year, consumers have until Dec. 23 to send a package overnight through the US Postal Service, FedEx, or UPS and have it arrive at its destination by Christmas Eve. In a recent experiment, Consumer Reports paid from $37 to $74 to mail the same 5-lb package from New York to California using the three services. All three services delivered the goods on time as promised. The Post Office proved the cheapest, in our study. When ordering directly from a merchant, shoppers typically have until noon PST on the 23rd to place their order to ensure timely delivery. Be sure to read each merchant’s policy carefully because some stores have a Dec 22nd deadline.
8. Give an e-gift card. Consumer Reports has been openly critical of gift cards that come with expiration dates and service fees that can diminish a card’s value whether or not it gets used However, some cards — usually the ones sold for use at specific stores — don’t generally have any strings attached. If you’re desperate, order an e-gift card from merchants on Christmas Day and it will be sent to the recipient’s inbox within a few hours. Note: Some e-gift cards can only be redeemed online.
9. Consider regifting.  Admittedly, it’s a last resort, and you better have a good explanation if you get caught, but plenty of people are willing to take the risk. Twelve percent of those surveyed said they plan to regift at least one present they receive this year. But don’t blame the lousy economy for regfiting.  When Consumer Reports surveyed Americans last year – when things were decidedly better – 15 percent of respondents were planning to regift their unwanted presents.

And to help shoppers make the best purchasing choices this holiday season, consumers are invited to visit www.ConsumerReports.org.  The site will be updated frequently throughout this Hanukah and Christmas holiday season with new postings to ensure that people are prepared for the holidays with the latest information.