Black Friday is dead.

There are 75 shopping days until Christmas, and most of what is going to be purchased this year will be online.

There will be very little hearing of the Salvation Armey bells ringing as you approach the shopping mall.  They are going to need to rewrite the lyrics to Up on the Housetop.

Sing-Along – The “old” version is

Up on the Housetop, reindeer pause
Out jumps good ol’ Santa Claus
Down through the chimney with lots of toys
All for the little ones’ Christmas joys

Ho ho ho, who wouldn’t go
Ho ho ho, who wouldn’t go
Up on the Housetop, click, click, click
Down through the chimney with good Saint Nick

The 2020 version is

Working from home and shopping’s online
Either the laptop or iPhone is fine
The kids just got home. Better shut the door
Shopping online for Christmas, oh what a bore

Ho ho ho, who would know
Ho ho ho, we would know
Using online savings, click, click, click
Maxing out the card is making me sick

Keep the Good Times Rolling

 According to Deloitte’s 2019 retail holiday survey, consumers will spend nearly $1,500 per household.

The shopping craziness all starts next week as Amazon has Prime Day on October 13 and 14.  Look to most retailers to begin the e-commerce advertising and specials shortly after.

What is going to influence the online shopper?  According to Deloitte, it is:

  • Most consumers (81%) expect that promotions will influence them this holiday season—with price discounts (74%) and free shipping (72%) at the top of their wish list, far ahead of other incentives like BOGO (39%) and cashback (29%). •
  • Free shipping is more important to shoppers (85%) than fast shipping (15%). Most of those who choose “fast” (68%) expect no more than two days; the majority of those who opt for free shipping (67%) are willing to wait three to seven days.

Danger Ahead

With the combination of quickly clicking to buy and Drunk Shopping, there is danger in the upcoming holidays to your budget.

According to Finder’s latest Drunk Shopping survey conducted in February 2020, nearly a quarter (22.9%) of Americans admit to shopping under the influence, and the amount consumers are spending increased by 13.9%.

Five Steps to Not Overspending your Holiday Budget


A budget is not an “I think this is what I will spend budget.”  Block out an hour THIS WEEKEND, sit down — with your significant other if you share the bills — and write down your holiday budget.

Once you add it all up, decide if you can afford it. If not, eliminate some spending.

Step 2 – Inventory what you already have

Tina has a gift closet, which is where gifts accumulate over the year when she sees something that will make the “perfect” Christmas gift.  On more than one occasion, we have discovered a gift still in the gift closet after Christmas.

Inventory what you have and put it on your list.

Step 3- Plan your shopping

Start NOW – those last-minute gifts are where you can blow the budget because they become impulse spending.

Share the responsibility of buying gifts throughout the entire family.  Unfortunately, shopping has turned into an open browser, shop, click, and purchase experience.  Embrace the old-fashioned shopping trip together in a modern way – perhaps a Zoom shopping experience!

When possible, I encourage you to shop locally.  Support our neighbors.

Step 4 – Track What you spend

As a CPA and a Financial Advisor, it will not surprise you that I use a shared excel sheet with Tina to track what we spend for each person.  Yes, it’s in the cloud, and I can access it on my phone.


Stop Spending may be the most critical step of all.

Once you have crossed them off the list, it is time to stop.

Discipline will give you a sense of accomplishment, and when we get together to review your December 31, 2020, Net Worth statement and make plans for 2021, there won’t be the lingering shopping remorse from overspending.

Got something on your mind or have a question? All of this can occur even at a distance.

Call us 214-239-4700 or click to set up a ZOOM MEETING

Michael Tannery CPA CDFA® AIF®       

Registered Principal

Tina Tannery

Registered Representative

Brad Livingstone

Registered Representative

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 The opinions expressed in this material are for general informational purposes only and is not a substitute for professional advice.  Individual circumstances do vary.



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