Wednesday, November 26, 2008

Shopping in a bad economy

I'm taking off Thanksgiving Day and I know a lot of people will be shopping on Black Friday, so it seemed like this would be a good time to bring up a couple of things to keep in mind given our economy.

Gift cards are very popular and rightly so. The recipient can choose what he likes and the gift giver doesn't have to worry about exchanges or choosing the wrong thing. But we've all heard the names of various stores in the news lately. Stores that are suffering from our economic downturn and may not survive. Think twice before giving a gift card for one of those stores. None of us have a crystal ball, but it would be shame to spend money on a store that might close its doors in January.

Likewise, when you purchase an item from a struggling store, debate whether it makes sense to buy an extended warranty. I have my doubts about extended warranties anyway (seems like an easy money maker for stores) but there's certainly no point in buying one from a store that won't be around to honor it in a year or two when a problem arises.

Happy shopping -- may you find wonderful bargains!

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