These days more people do their holiday shopping online. It’s convenient and there are such great prices for everything on your gift list.
But saving money on those gifts is not the only price break when you shop online. You also save on sales taxes, but that may go away soon. If you reside in Colorado, technically you’re supposed to pay sales tax on purchases when shopping online if the vendor has a physical location in state. This means that if you order online from stores such as Target or Wal-Mart, you are supposed to pay sales tax. But that has not really been enforced – at least not yet. Colorado and a few other states recently passed rules to that effect. Starting in 2012 online retailers with a physical location in Colorado will have to collect a 2.9% sales tax.
So if you are thinking about making a major purchase online from a retailer with a physical location in Colorado you may want to do it this year, if your budget permits. Also, be sure to save your receipts, as the sales tax may be deductible.
What if you didn’t get all your shopping done during Black Friday or Cyber Monday? Not to worry, there are still great deals online.
The Internet makes it really easy to find the best bang for your buck. If you prefer to shop in person don’t leave home without your cellphone. You can download your favorite merchant’s app to your smartphone to receive alerts about instant shopping specials.
Leaving it to the pros
Sitting at the computer scouring through hundreds of Internet sites can be time-consuming and frustrating. The good news is you can leave it to the pros to do the bargain hunting for you. Dealnews.com constantly searches the Internet for the best deals and gets notified from the retailers about instant deals. Visit their site to search for the best deals on anything from clothes to travel to electronics.
Comparison shop using sites such as Amazon.com, PriceGrabber.com or Google Product Search. Just enter what you’re searching for and the sites bring up a list of retailers that offer the item and their prices. Also, check out online coupon sites such as Coupon Winner.com.
Out of gift ideas? Then gift cards may be your cup of tea. You can find gift cards at less than face value on sites such as Giftcardrescue.com and Giftcardgranny.com. They even buy back your old gift cards that have been collecting dust.
Shipping costs can add up too. Check out sites such as FreeShipping.org that offer free-shipping coupons for close to 4,000 stores.
Ask your merchant to match competitor prices. Hold on to promotional flyers or emails in case you run into a merchant on your shopping adventure that is willing to match a competitor’s sales price.
There you have it. Tips galore to help you save money as you check things off your holiday gift list. But keep in mind that no matter how much you can save online, if you can’t afford to pay the balance due then it’s an exercise in futility.
Mystified by money and want to improve your financial effectiveness? Denisa Tova CFP®, CDFA, MBA is a Colorado Springs-based Certified Financial Planner and a Certified Divorce Financial Analyst. Contact her at DenisaTova.com or email denisa.tova@gazette.com.
