Consumer Reports offer these tips to ensure everyone gets the most from their gifts this holiday season.

• Keep items and packaging intact- If you receive a gift that you will not be using, make sure you do not lose any of the components included in the packaging. Something as simple as a missing warranty card can give a retailer reason to refuse the return.

• Gift returns for online products- Returning a gift that was purchased online requires the individual returning the gift to do a bit of homework. There may be a certain procedure that you have to follow in order to receive credit for the return. Avoid simply putting it in a box and sending it off, as you could end up minus the gift and the credit. Look for return instructions and if you have questions take the time to make a call to ensure you have all the required paperwork and correct shipping address.

• Keep and give receipts- Whether you are the gift giver or on the receiving end you should always keep whatever receipts issued at the time of purchase.  If you do not have a receipt, you may find you are unable to return the product or you might have to settle with a store credit for an amount less than the purchase price.

• Rebates and returns- Many electronic products come with rebate offers which require the return of the UPC code on the product. Before you begin cutting codes and filling out rebate forms, make sure everything is in good working order and that you are certain you will keep the product. Once you remove UPC codes you will more than likely be unable to return the product.

It is almost impossible to buy all the right gifts for the people on you list. We all want to give a gift that will make our loved ones happy, however if for some reason that gift doesn’t work out they should have the option to return the gift and find something more fitting. Give your family and friends the option to return gifts by paying attention to return policies before making your purchase. On the other hand, if you are on the receiving end of a gift that simply isn’t working out, do your research to make sure you aren’t losing both the gift and any credit that may be issued upon return.

Understand Return Policies For Gifts was created by and is property of American Consumer News.

Compared to last year, a prediction of a similar buying season is not good for retailers who went all out to produce some of the best shopping incentives ever during this time of year.  But, even so, it would be better than the drop of over 2 percent that they experienced last year.

While there are small signs that the economy has reached a bottom and may be on its way back up, it takes time for the effects to reach the wallets of consumers.

The Stumbling Blocks
The big three economic events continue to be a problem for consumers: lower credit availability, increased unemployment or underemployment, and higher foreclosures on homes.  Money is tight in almost every household and is going towards paying bills and down debt.

Retailer Adjustments
Most major retailers have adjusted inventory levels and lowered expenses so that they can ride out a rough holiday buying season.  What that means for consumers is that certain popular items might be hard to find for gift-giving.  Retailers are smart, though, and might have a few tricks up their sleeves that will help buyers get what they want.

Consumer Attitudes
Buyers this year might be more frugal than ever and cut back more than expected which could lead to last minute price cuts and sales in order to get registers ringing. 

The most important things on the minds of consumers when they go to shop for items are:

Price

This goes without saying, but the degree to which consumers are looking at price is higher than ever.  The bar was set low last year in the amount of discounting and shoppers will remember those prices and may react negatively if they cannot make purchases at or near those same levels.

Availability 

The worst case scenario is having a little bit of money, but not being able to get what you want.  Look for many alternative options for buyers of a particular item that is out-of-stock.

Quality 

 Quality still matters, but not as much.  Most people are relying on the reputation of manufacturers and their processes to make products that last.
Should all things remain the same, gasoline prices stay at their current levels and home heating prices remain unchanged, retailers should feel grateful.  It could be a lot worse

Will the Christmas Buying Season Be Better This Year? was created by and is property of American Consumer News.

With two children under the age of six – I have many years to think about their college education.  But as we all know, the first rule of saving is to save as much as you can, and start as early as you can.  I used to think saving for college was a bad idea in general – because the amount of savings you or the child has directly affects the amount of financial aid you are eligible for through the college you select.  In other words, if you have $110,000 saved by the time he or she reaches college age – the school will consider 100% of it as your contribution to the child’s education and chances are, having a sizeable amount of cash saved will make you ineligible for all need-based financial aid.  Even if half of that savings was supposed to be going toward your retirement, or the downpayment for a new house you’ve been saving for.

If you save money in a 529 plan, however, only about 6% of the total savings are used when calculating a child’s eligibility for need-based financial aid.  The money also earns interest on a tax-free basis.  Each state has it’s own policies regarding how 529 plans work, but you can expect that the plans not only earn on a federal tax exempt basis, but withdrawals used for qualified education expenses are also tax-free. Some states waive state taxes for residents, other states allow deductions on contributions – check with your particular state for the specifics.  The 529 plans offer generous maximum contribution limits, and other family and friends can contribute to a 529 plan for a child (and the money is not considered part of their estate). 

If your child grows up and decides not to go to college, you have a few options.  You can switch the 529 plan beneficiary to a child in your family who IS going to college (a brother, sister, cousin) or you can switch it to an adult family member who is going to continue their education.  If there is no one else to switch the 529 fund to; or you want the child to receive the money despite not going to school, you can withdraw the money for non educational purposes, but you will pay a 10% penalty and the money will become taxed as income at that point.

Note: Each 529 plan has its own set of rules and restrictions, which are subject to change. Make sure to request the most recent plan details from plan administrators.

My favorite part of the 529 plans is that you can set them up and allow other family and friends to contribute to them.  Every year as the holidays and birthdays of my children approach, our family begins asking me for ideas for what gifts to give them.  Now, instead of spending their entire gift budget on toys the children will outgrow in the blink of an eye, I ask them to contribute some of their gift into my child’s 529 account.  To make this as easy as buying something online, we enrolled in FreshmanFund.com.  It works like a gift registry – my children have registries and people can come and contribute with credit card or bank transfers.  The money is held in an account managed by FreshmanFund.com until I transfer it to the child’s connected 529 plan.

Giving the gift of education couldn’t be easier – and it’s a gift that will grow with the child until he or she is ready to use it!

Better Than Barbie: Saving for Your Child’s Future Education was created by and is property of American Consumer News.

Retailers are more than aware of the potential decline in holiday sales this year. Shoppers have made it clear there are going to be shopping where the deals are and plan to spend less than in year’s past. Stores will be working to gain business by offering savings and promotional deals. Retailers have also started to assist consumers earlier than usual this year in preparation for the holidays. Competing with the Halloween pumpkins and trick-or-treat candy are Christmas trees and stockings. Stores realize that many people are working on a strict budget this season and in order to accommodate their needs, they have begun advertising Christmas specials earlier, so consumers have more time to shop and can begin shopping earlier in order to keep in line with their budget.

While many will plan to shop at discount stores for their holiday gift-giving needs, some people will still need to walk the malls in search of the perfect gift at the perfect price. There are some easy ways to help keep yourself from overspending and still be able to feel good about your gifts.

Research Prices – Different stores offer different prices for the same merchandise. Some internet websites are designed to help you compare prices in different stores. Using these resources prevents you from wasting gas as you drive around looking for the deals.

Keep a Master List – Keep a list of the items you want to buy for people. Use your internet research time to find gift ideas and jot them down. If you run around the mall without a single idea, you are likely to overspend simply to get home. Knowing what you want can help you find it for the best price before you hit the stores. Keep the price research information you find on the list too to prevent running back to the same store several times for forgotten items.

Start Early – Christmas is less than a month away. There is no time like the present to start looking online and around the stores for what is on sale before the holidays get closer. Taking a little bit at a time can certainly help you from feeling overwhelmed and frustrated which can lead to overspending and annihilating a budget.

Remember Wise Advise – It truly is the thought that counts. With so many undergoing financial difficulties, there will be a lot more understanding people giving and receiving on Christmas morning. If you can not afford anything, try baking cookies from scratch or some other act of holiday kindness. Going broke for the holidays is not going to help anyone. Do what you can with what you have and throw away the guilt.

Holiday Spending Relies on One Factor This Year: Price was created by and is property of American Consumer News.