Consumer Advice: Save Money During Holidays

Added November 27, 2001 by Ilyce R. Glink

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Summary: When the holidays come around many people spend a lot of money on gifts. How can you save money during the holidays? Consumer advice includes cutting back on alcohol purchases and staying out of your favorite store. Find out creative ways to spend the holidays that may not cost a lot of money and will save you money instead.

WGN-TV Show Notes -- November 27, 2001

ANCHOR: Are you feeling a little broke this holiday season?

ANCHOR: Money and real estate expert Ilyce Glink is here with some of her favorite ways to save.

*Welcome

ILYCE: If you're like most Americans, you're torn between wanting to salt away a few extra bucks during this recession and blowing it all on holiday gifts for those you love. We went to Michigan Avenue to ask consumers how they save money.

Man in late 20s

"My favorite way to save money would probably be to cut down on my beer purchases."

"How much does that save you?"

"$40"

"And do you do this regularly?"

"I just started to"

Woman with Glasses

"Stay out of Marshall Fields"

"How much does that save you in a given month?"

$600

Man (Cut in from middle of his talk)

"I wear the same pants that were in style 10 years ago and buttondown shirts that went out of style 20 years ago and to me they look as good as the modern stuff"

Woman with Burberry scarf

"Shop at the Salvation Army and borrow my friends clothes when I'm visiting because I'm too stupid to bring warm clothes"

Student

"What's your favorite way to save money?"

"Hide the credit cards"

Where do you hide them?

That's the problem.

Student

"I have friends who work at Starbucks -- maybe I shouldn't say that -- and we get free coffee"

Woman

"We're talking small things, like using paper clips to close bags instead of buying the little closey things for the bags. Using blankets to take out to the ballgame instead of buying ponchos"

Asian student

Favorite ways to save money?

"I just spent $3 on a cookie. Well, $2.14"

THREE DOLLARS? WHAT WERE YOU THINKING?

"I'm hungry"

ILYCE: When it comes to saving money, every little bit helps. So, start by refinancing your mortgage. And here are a few other ways that I try to save money:

Ilyce's Favorite Ways To Save

Double the recipe and freeze half
Discount movies and matinees
Shop sales year round for gifts
Kids clothes on clearance racks
Grab bag gift giving

ILYCE: First of all, cook more and when you do cook, double the recipe and freeze half for another night. Take advantage of the cheap seats and go to matinees. Shop the sales year round for gifts. I just bought about 20 board games at 60 percent off to give as children's birthday gifts. I buy most of the kids' clothes on the clearance racks and this year, we're doing a grab bag for our holiday gift giving -- except for the kids.

ILYCE: I've got more great money savings ideas on my website, at www.thinkglink.com.

Nov. 27, 2001.

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