Just In…Gift Certificate Concerns

Even those Doing Christmas may find themselves buying a gift certificate here and there – a fact retailers love because many are never redeemed. This year, more than ever, that might be true!

Here’s a partial list of  stores planning to close after Christmas that are still selling cards through the holidays even though the cards may be worthless January 1. Apparently there is no law preventing them from doing this – it’s just part of the process known as “Bankruptcy Planning.” 

Those that aren’t going out of business may still be closing stores that your gift recipient would be able to access. Better put them on Santa’s “not nice” list or you may end up there next year… 

                  ·        Ann Taylor– 117 stores nationwide closing

                  ·        Bombay closing remaining stores

·        Cache will close all stores

·        Catherine’s to close 150 stores nationwide

·        Circuit City (filed Chapter 11)

·        Dillard’sto close some stores

·        Disney closing 98 stores and will close more after January.

·        Eddie Bauer to close stores 27 stores and more after January

·        Ethan Allen closing down 12 stores

·        Fashion Bug to close 150 stores nationwide

·        Footlocker closing 140 stores – more to close after January

·        GAP closing 85 stores

·        Home Depot closing 15 stores, 1 in NJ ( New Brunswick )

·        J. Jillclosing all stores (owned by Talbots)

·        JC Penney closing a number of stores after January

·        K B Toys closing 356 stores

·        Lane Bryant to close 150 stores nationwide

·        Levitz closing down remaining stores

·        Linens and Things closing all stores

·        Lowes to close down some stores

·        Macys to close 9 stores after January

·        Movie Galley Closing all stores

·        Pacific Sunwear(also owned by Talbots)

·        Pep Boys Closing 33 stores

·        Piercing Pagoda closing all stores

·        Sharper Image closing down all stores

·        Sprint/Nextel closing 133 stores

·        Talbots closing down specialty stores

·        Whitehall closing all stores

·        Wickes Furniture closing down

·        Wilson Leather closing down all stores

·        Zales closing down 82 stores and 105 after January

Frugal and Jobs

All I want for Christmas is… a JOB! That’s on the wish list of millions this year – like the  4.4 million who are trying to survive on unemployment benefits. The 400k who gave up looking?  In an economy that lost almost 2M jobs this year, it’s not hard to understand their hopelessness. Which leads us to auto workers.

$73 an hour? Absurd! Yes, but also not true. Workers COST $73 an hour, they don’t MAKE $73 an hour. If you’re earning $15 an hour, you’re probably costing your employer about $20, assuming you have a reasonable benefit package. Auto workers do make about double the average worker and about $10 an hour more than their non-union counterparts. And, they get pensions – I know, most of us don’t have a clue what that is anymore. Our future financial health is our problem. (also known as the tanking 401k.)

If you’re unemployed, you probably want to save the auto industry so you don’t have to compete with another 3 million job-seekers. If you’re employed and struggling just to survive, the fear of higher taxes from the bailouts probably has you saying, “the heck with ’em.” I can talk out of both sides of my mouth on this one. There is no easy answer. What I do know is this:

1) If you have a job, suck up, do what’s asked, do more than what’s asked, smile a lot and KEEP it! If anything in this article sounds familiar…

2) If you have a job, spend like you don’t. Given that companies are dumping  jobs faster than I can hit the delete key, think like a good Boy or Girl Scout – Be prepared.

3) If you’re going to spend money, make it count. Money can buy happiness – if you understand what happiness it.

4) Practice frugal principles and extend your bucks, always grateful that you have them to extend.

But even the most frugal finagler can’t invent bucks.  For those of you without a job:

1) Now’s the time for, “If I didn’t work I’d…” (fill in the blank.) Make this a time to regroup. Get in shape. A healthier you interviews better. Use your brain. A well-versed you interviews better. Learn something. A confident you interviews better. Volunteer. A paying forward you has more opportunities available.

2) Lower your standards. Income can be extended, juggled, massaged. Zero is still zero.

3) In an economy where 1 in 10 find themselves in trouble with their mortgage, you won’t be alone if you try to restructure debt. Pride is one of the seven deadly sins for a reason – it won’t feed you.

4) Knowing you’re not alone in this nightmare doesn’t relieve the stress of living it. Try one of these.

Now’s the time to prepare for 2009. Part of that planning is restraint during the holiday season. Part of it is visualizing the frugal you in the year ahead. And, part of it is attitude, the most predominant aspect of gratitude. Not since more years ago than most of us can remember has the economy left so many so hopeless. A quick look down and  you’ll see there are plenty of people even worse off. It’s the looking up that makes the glass half empty.

Happy Thanksgiving!

Right now, it’s tough for many to embrace those words. If the economic crisis boat is floating in your tub, that’s assuming your tub hasn’t already been foreclosed on, it’s hard to feel grateful. Retailers could likely find this to be the year that “Black” Friday becomes “Still in the Red” Friday. The idea of putting up a tree when you don’t know where the dollars will come from to put anything under it overwhelms us. I’m guessing doctors are handing out mood elevators faster than the neighbor who offered full-size candy bars on Halloween. Face it, it’s bleak out there – financially –  which means it’s also devastating emotionally.

Yes, it may be the worst holiday season you’ve ever experienced, financially. But it doesn’t have to be an emotional train wreck. It can be a time of reassessment, of rethinking that can lead to a resurgence of your spirit, if not your cash flow. In this long-term predicament, that’s crucial.

First, breathe deep. The next thirty-plus days are among the most stressful we face. Now, look inside. Do you matter? Of course you do. To someone. And, it’s not because of the stuff you buy. It’s because of you.  That’s the first lesson in making the holidays more manageable:

CUT YOUR LIST DOWN TO THOSE PEOPLE WHO MATTER.

How many of your holiday dollars are spent on “should” buys? Drop them. Giving isn’t about shoulds. Frugal people understand this. They don’t, however, reallocate that money to someone else. They reduce their holiday expenses.

The second lesson in your holiday-expense reduction plan?

WHAT CAN I DO FOR PEOPLE ON MY LIST THIS YEAR?

DO, not BUY. All of us have talents. Seldom do our talents and those of the people we care about match exactly. What can you do for someone that they will appreciate because they can’t do it. Or don’t want to. Or don’t have the time. That’s a great gift. (Don’t worry, I’ll be back in a few days with tips for all that “doing” you’ve decided to try this year.)

The third question you must ask to reduce stress and money this season?

WHO CAN I HAVE AN HONEST DISCUSSION WITH ABOUT GIFTING?

Years ago my best friend and I quit exchanging gifts. Our friendship was a year-long gift to each other. Family draws? Maybe you can stop them. Or reduce the limit. Or require the gift be homemade. Same at the office. Often, we overspend because we don’t want to “look” cheap. Anytime you can drop a draw, do so.

These three mindset changes can have an enormous impact on your holiday bottom-line, not to mention your emotional well-being. I hope they bring just a tad relief so that whether you’re enjoying a full-out turkey extravaganza or nuking a can of turkey noodle soup, you can embrace “Happy Thanksgiving,” (which, by the way, is a great time to broach that “drop the draw” discussion.)