How to Get The Hot Holiday Toys Your Kids Want

holiday-toys-for-kids

Every fall, many larger retailers release their list of the top hot holiday toys. Kids tend to flock toward the items on these lists.

While parents and family members want to get the things kids want, there are obstacles that come up. That doesn’t mean you won’t get the toys your kids are dreaming of, you just have to know how to play the game. Here are a few tips to help you get those big ticket items that your kids are asking for.

Shop Early

The items on these list are getting the most exposure, which can increase the demand. If you know your child wants something on a hot toy list and you find it in stock, you probably don’t want to hesitate to buy it. Even though the holidays are still a couple months away, if you don’t buy it now, you may not find it again.

Avoid Waiting for a Sale

Retailers have a pretty good idea about which items will draw in the most sales. Because of this, the odds of them lowering prices on these in-demand items can be pretty slim, as they don’t need to offer an incentive for people to buy. That means most of the items on these lists will not go on sale this year. If you try to wait for a price drop, you will more than likely miss out on getting them.

Split the Cost

If something it a bit out of your budget, ask a family member to share the cost with you. Buying one larger toy can actually be more cost effective than getting two or three smaller items.

And if you decide you just can’t get them the items they’re dreaming of, whether because of availability or if it’s out of your budget, here are a few alternatives.

Redirect Your Kids

While some of the items look incredible, consider sitting down with your kids and find out what they really would like and use. Something might appeal to them only because they have seen it advertised. But is that something they actually want? Will they still be playing with it in a few months?

Limit Your Shopping

This year, try a different gift-giving tactic. For instance, give the “five gifts” system a try. This is where you purchase five total gifts for your child. These include items like:

  1. A book to read
  2. An item they need
  3. Something to wear
  4. A toy they want
  5. Something to share

Create your holiday list and budget and be careful not to allow temptation to sway you to spend more.

Have a Back-up Plan

Even if you have the budget set to be able to grab that hot toy, you might not be able to find it. The most popular items sell out quickly. Don’t go too out of the way trying to find something in stock. Create a back-up plan. Ask your children for different ideas. That way, when you can’t find one toy, you can still give them something they want.

The holidays are not just about the gifts. Sure, we want to give our children what they want, but we need to keep our sanity (and our finances) in check. Getting them the hot toy of the moment (which may no longer be interesting to them in a few months) certainly isn’t worth going into credit card debt over. Not only can this damage your finances, but it can also harm your credit. You can keep an eye on how your holiday spending affects your credit by viewing two of your credit scores for free, updated every 14 days, on Credit.com.

Image: tatyana_tomsickova

The post How to Get The Hot Holiday Toys Your Kids Want appeared first on Credit.com.

How to Get The Hot Holiday Toys Your Kids Want

holiday-toys-for-kids

Every fall, many larger retailers release their list of the top hot holiday toys. Kids tend to flock toward the items on these lists.

While parents and family members want to get the things kids want, there are obstacles that come up. That doesn’t mean you won’t get the toys your kids are dreaming of, you just have to know how to play the game. Here are a few tips to help you get those big ticket items that your kids are asking for.

Shop Early

The items on these list are getting the most exposure, which can increase the demand. If you know your child wants something on a hot toy list and you find it in stock, you probably don’t want to hesitate to buy it. Even though the holidays are still a couple months away, if you don’t buy it now, you may not find it again.

Avoid Waiting for a Sale

Retailers have a pretty good idea about which items will draw in the most sales. Because of this, the odds of them lowering prices on these in-demand items can be pretty slim, as they don’t need to offer an incentive for people to buy. That means most of the items on these lists will not go on sale this year. If you try to wait for a price drop, you will more than likely miss out on getting them.

Split the Cost

If something it a bit out of your budget, ask a family member to share the cost with you. Buying one larger toy can actually be more cost effective than getting two or three smaller items.

And if you decide you just can’t get them the items they’re dreaming of, whether because of availability or if it’s out of your budget, here are a few alternatives.

Redirect Your Kids

While some of the items look incredible, consider sitting down with your kids and find out what they really would like and use. Something might appeal to them only because they have seen it advertised. But is that something they actually want? Will they still be playing with it in a few months?

Limit Your Shopping

This year, try a different gift-giving tactic. For instance, give the “five gifts” system a try. This is where you purchase five total gifts for your child. These include items like:

  1. A book to read
  2. An item they need
  3. Something to wear
  4. A toy they want
  5. Something to share

Create your holiday list and budget and be careful not to allow temptation to sway you to spend more.

Have a Back-up Plan

Even if you have the budget set to be able to grab that hot toy, you might not be able to find it. The most popular items sell out quickly. Don’t go too out of the way trying to find something in stock. Create a back-up plan. Ask your children for different ideas. That way, when you can’t find one toy, you can still give them something they want.

The holidays are not just about the gifts. Sure, we want to give our children what they want, but we need to keep our sanity (and our finances) in check. Getting them the hot toy of the moment (which may no longer be interesting to them in a few months) certainly isn’t worth going into credit card debt over. Not only can this damage your finances, but it can also harm your credit. You can keep an eye on how your holiday spending affects your credit by viewing two of your credit scores for free, updated every 14 days, on Credit.com.

Image: tatyana_tomsickova

The post How to Get The Hot Holiday Toys Your Kids Want appeared first on Credit.com.

Should You Use Layaway to Buy Holiday Presents?

Santa Claus purchasing online

The holiday season is probably already putting a pinch on your bank account, and many are still looking for ways to fund the rest of the gifts on their lists. There are many-a-pitfall that can set you back financially for the New Year, which is why many opt to lean on overburdened credit accounts to make it through the holidays. While the immediate happiness that comes with providing gifts to loved ones is great, the long-term stress lies just around the corner once the gifts have been opened and life-as-normal resumes once again.

An older, but still used, method to purchasing your holiday gifts debt free (but with an added cost) is known as layaway.

How Layaway Works

If you haven’t heard of using layaway since the days of your childhood, then maybe it’s time to consider using this as a way to pay off gifts before the holidays. Yes, layaway may seem ‘old fashioned’ to many, but the fact of the matter is that it’s still alive and well in the financial planning of many families.

Layaway accounts work like this: You take the items you want to purchase to the layaway counter and pay a deposit. This deposit ensures that the item is still yours until you pay it off. You can make payments in store or online in many cases, and there’s a service fee for the layaway use.

These contracts typically have an expiration date wherein the items are placed back on the shelves if they’re not paid off. These can range from 30 days to well over a few months with the typical layaway contract lasting around 90 days. There are other details that can change from store to store like cancellation fees, additions, and restrictions, so you’ll need to check with the store you’re using.

The great part about layaway accounts is that your items don’t typically accrue ‘interest’, per se. You’ll be charged a service fee in many instances, but these fees tend to be minimal compared to credit card interest rates.

Fine Print Alert

One downside is that if you don’t pay the remaining balance on your items or if you don’t contact the department before your contract is up, you may end up forfeiting your items and any payments you’ve made thus far. That’s right – you don’t get the gift and don’t get your money back. It’s important to read the fine print of a contract before signing. Many of the big box retailers that offer layaway will give you a refund after taking a fee. Walmart, for example, charges a $10 cancellation fee – but some smaller business may be more likely to keep the payments. Toys-R-Us charges a $5 set-up fee and also a cancellation fee that varies based on state.

Also check to see when the layaway offer deal ends. Walmart’s ended on December 14, so any items not picked up or paid for in full by then were automatically cancelled.

Should You Use Layaway?

Layaway is ideal for those who have a solid plan to pay for their items in a short period of time and in full and worry the item may no longer be on the shelf by the time you get the money together to pay in full. It’s also a nice way to avoid debt and only purchase items you can afford. However, there is a price to pay for the ability to do layaway.

 

The post Should You Use Layaway to Buy Holiday Presents? appeared first on MagnifyMoney.