Despite inflation and availability concerns, the National Retail Federation’s annual prediction of holiday shopping predicts there will be an increase of 6% to 8% over last year’s sales. By now you are seeing the ads trumpeting price reductions, special store hours and limited quantities. Stores are offering earlier discounts every year as they try to compete with the ever-growing online competition. The deals and promotions began in October and will only increase as we near the holidays.

Tips to avoid a “Red Holiday Shopping Season”
Spending and owing more money than you bring in is called being in the red. Millions of Americans are in that category, and once you are there, it isn’t easy to get out. Black Friday is named after the figurative day that a retailer’s sales finally put their business “in the black,” meaning finally turning a profit for the year. But if you are not a smart consumer, the day can turn into “Red Friday” for your finances. Try these tips:

1. Know your budget, make a plan — and stick to it. Take the time to inspect your financial situation. Consider all the other holiday expenses you might have: travel, charitable contributions, entertainment and decoration. Figure out how much you can spend on shopping and don’t vary from that amount. The excitement and distractions in the stores can dazzle and distract, until you are buying things you didn’t plan to. Remember your budget and stick to it.

2. Make the most of sale flyers and promotions. Remember that the small print is important, so don’t overlook it.

3. Do an online search for websites that promote deals and sign up for alerts to keep you in the know. Your favorite retailers will also have online sites and shopping apps through which you can sign up for email notifications of special deals.

4. Read product reviews on extremely discounted items. Sometimes there is a reason for the discount, such as inferiority.

5. Price-matching continues to grow in popularity among retailers. Check a store’s specific policy and be sure it isn’t suspended during the holiday season.

6. Check a retailer’s return policy: Is it money-back or store credit? Anything that is not spelled out specifically in writing should be inquired about.

7. Always get a gift receipt when buying for someone else and give it to them along with the gift.

8. Look up a store’s BBB business review at http://bbb.org, to view their marketplace history.