1. Sell gift cards. According to the NRF, Americans were expected to receive gift cards totaling more than $20 billion for the holidays. But what should you do if you have a $100 gift card to a store you dislike?
Such cards are rarely redeemable at stores for cash. But at plasticjungle.com, you can sell your unwanted gift cards or trade them for gift cards to stores you prefer. (If you're hurting for cash, it's wise to use this newfound wealth to pay the bills.)
2. Sell stuff on eBay. You might not have time for a yard sale, but it's a great time to purge your unwanted gifts, unworn clothing and other semi-valuables on the auction Web site eBay.
3. Shop Smart Throughout the Year. Certain annual sales are predictable. January is a good time to buy sheets and towels, not to mention winter gear and holiday items at discounted prices. Mark these sales on the calendar as a general guideline: February brings consumer electronics, coats and cashmere. March is spring clothing and wedding gifts; April, wedding gowns; May, gifts for Mom; June, gifts for Dad; July, summer clothing and shoes; August, fall clothing and school supplies; September, outdoor sporting goods and patio items; October, cars (as new models arrive); November, early holiday gifts; and December, fall merchandise, sweaters, holiday decor and winter gear.
4. Let a Move Inspire You. Will Smith's current flick, The Pursuit of Happyness, will have you thinking twice about spending $5 on a latte. You can't help but ponder how you'd fare for months without a paycheck and how much we take for granted.
5. Keep a Spending Journal - Track Everything You Spend. Every $2 soda and vending machine snack adds up. For at least one full month, track every penny you spend. This works best using an Excel spreadsheet, but just jotting dollar amounts on a daily planner, purse-size notebook or index card will help you see exactly where your money is going. Add up everything you didn't need and make note of it. While you're at it, estimate your annual shopping expenses for things such as birthday and wedding gifts in 2007. Knowing you have $XXX expenses can help prevent $XXX purchases.
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