Holiday Shopping Plan a Personal Money Accounting Solutions
The holiday season is upon us and most people are shopping for gifts or just great deals for ourselves. Perhaps you have developed the ability to wait until shopping season to make your large purchases and that is a great idea! You are showing the ability to save and plan for shopping. Also, this season allows for some very nice deals! While you are shopping this season, first sit down and calculate the entire cost of a purchase.
Most children would like systems such as Xbox or PlayStation. Plan for the entire purchase which turns out to be about half the cost of the system. If the system cost $300 plan to spend about $475.00.
What is included in this purchase?
The gaming system $299.99 (sale) J (but most of us know that’s the price all year long)
The game controller. Most of the systems come with 1 controller. Really!? Now you need 2 or more – $9.99-$39.99 (pricing depends on the type of controller)
Headphones with mics – the player will need a mic to talk with the other players online $19.99-59.99 (depends on the type of headset and benefits)
Getting online – I know Xbox has completely changed the package and access to get online. Online play will allow for your players to play with anyone else in the world that is online. However, as parents we have to monitor and the parental feature is now $99 for gold, for the year, and there are different levels. There are lesser packages with lesser features.
The actual games – The system will usually come with 1-2 games. (2 if you are lucky) and the additional games can run $9.99-59.99.
Other “necessary” accessories. (Deemed “necessary” by the players) Can range from 9.99-$129.00 and up.
The cost turns out to be more than that fabulous $299 sales price. I recommend spreading the purchase out over time or plan to save more than the sales price plus tax. Some players are more than happy to have the game system, one controller, and 1 game. Usually, additional players have to bring their own controller and headset. Game Night BYOC (Bring your own controller!)
This is a great example of the importance of counting the cost by creating a money plan. The same plan would apply to a home purchase and/or sell, travel, a new recipe, starting a business, moving, major changes in life such as having a baby or going to college. We have to plan for the actual and the estimated because things happen. We use tax planning to get credits for certain purchases, but more importantly we need to have a method to earn the money or save. Planning takes the stress out.
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