The recession might be taking a toll on $200 games. The hottest toy this year for youngsters is a $7.99 fake hamster called a “Zhu Zhu Pet.”

And once again, retailers cannot stock their shelves with enough of this year’s hottest toy to meet demand. So eBay sellers are again having a field day, selling the item online for $35, nearly four times the retail value. 

If you are lucky enough to see a Zhu Zhu Pet at Toys “R” Us, Wal-Mart, Target, or another retail outlet, grab it immediately! In fact, grab a few. If you don’t have any relatives or friends on the lookout for these hot toys, you can finance your own holiday shopping list by joining the world of online auctions, selling them for a fat profit on eBay!

Suffering not only from the recession, but also from the new restrictions mandated by Congress, banks are passing the buck—or rather, they are grabbing the bucks wherever they can find them by increasing interest rates to make ends meet.

With the holiday season fast approaching, this is bad news for consumers who turn to credit cards to finance their holiday shopping. To stave off compounding interest charges—and the holiday hangover that corresponds with mounting credit card bills, we suggest leaving the credit cards at home when headed to a mall. Instead, follow this plan:

1. Make a budget for each person on your shopping list.
2. Label envelopes with the names of each person for whom you are buying a present.
3. Place the amount of cash appropriated for each person inside the respective envelope—no more and no less.

When purchasing a present, withdraw cash from the appropriate wallet. This method creates a psychological barrier to impulse shopping. If you are tempted to splurge on a gift—let’s say you are robbing from Peter’s envelope to buy a gift for Paul—you will be dissuaded when you realize you will need to withdraw money from another person’s wallet to cover the extra cost of the gift.

If you want a copy of my book, “Preventing the Credit Holiday Hangover,” submit a comment below with your best money saving technique.  I’ll email the book out to you immediately!