🎄Inflation is coming for your holiday gifts

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A Note From Kelly Anne

Not to be a Scrooge, but your holiday shopping list is going to cost you more this year. Some of the most popular gifts, including toys, jewelry and hair dryers have risen as much as 31% in price this year.

Are there still opportunities to save on your holiday shopping, despite the large price increases? We look into it below.

Best,

Kelly Anne

Senior Staff Writer

Consumer Finance

Why Hair Dryers, Other Popular Gifts Are Surging In Price This Holiday Season

‘Tis the season for holiday shopping—and boy, will it be expensive this year.

Inflation continues to take a bite out of our wallets, especially during this holiday shopping season. Data from PayPal Honey provided to Forbes Advisor shows that popular gifts have ballooned in price this year: Prices for hair dryers are up 25%, toys are up 10.5% and jewelry is up 31%. Yikes.

However, there is a silver-tinsel lining: Consumers are bound to see some savings. Retailers are flush with excess inventory this year, which means consumers will see promotions and deals throughout the season, especially on clothing and sports apparel.

Despite discounts, the standard savings strategies also remain relevant this year: Stack sales with rewards, like a cash back credit card, pay any credit card balances in full to avoid paying interest, and of course, kick off the shopping season with a budget so you don’t overspend.

Happy Shopping.

Best CD Rates Of November 2022

Banks and credit unions offering the best CDs pay a high APY (Annual Percentage Yield) or dividend rate relative to the national average. They also maintain reasonable minimum deposit requirements and favorable compounding schedules. We look at the best banks and credit unions for certificates of deposit and the best CD and certificate rates by term.

Best CD Rates for November

CD Calculator: How Much Can You Earn With A Certificate Of Deposit?

If you’ve ever shrugged off certificates of deposit, they’re worth your attention thanks to today’s rising interest rates. CDs are “time deposit” savings accounts that require you to lock away your money for a fixed period. In exchange, you earn a fixed return on your principal investment—and those returns are becoming more attractive as rates rise.

CD Calculator

Use this CD calculator to see how much interest you'll earn based on your APY and initial deposit.

Here’s what else you should know
this week

Planes, Trains and Automobiles: Thanksgiving Travel Is More Expensive For Everyone?

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Why It’s So Hard To Find These 5 Everyday Items Right Now

Consumers are running into shortages of products from paper to medication—and these shortages can have a harmful effect on everyday life.

Debt Consolidation Loan Vs. Balance Transfer Credit Card

A balance transfer card can be a powerful tool in your debt-busting arsenal. A 0% APR offer on a credit card can save money by having all of your payments during the intro period go towards knocking out the principal balance instead of some being siphoned away to pay interest charges.

Best Balance Transfer Credit Cards

2022's Best Debt Consolidation Loans For Bad Credit

A debt consolidation loan can be a smart way to streamline your monthly debt obligations and get out of debt faster. However, this debt reduction strategy isn’t right for everyone. And if you have bad credit, qualifying for a debt consolidation loan with an attractive interest rate could be a challenge.

Minimum credit score

560

APR range

7.46% to 36%

Loan amounts

$1,000 to $50,000

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Aura vs. LifeLock: 2022 Comparison

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