Buying presents during the holidays brings a rush of excitement to nearly any shopper — but it can also be tricky to cross off your checklist while also staying within your budget. Whether you’re participating in a white elephant exchange or picking out stocking stuffers, it’s almost too easy to spend too much.
In a world where the click of a button can drain your wallet, it’s crucial to consider how to save money on gifts for your friends and family — and how to stay safe in the process. Here are a few ways you can make cost-effective decisions this holiday season.
1. Create a Budgeted List
Americans make 156 impulse purchases a year – don’t let your gifts be one of them! By allocating a specific amount of money to go toward gift buying, you can save a ton.
Write down each item you want to purchase, along with how much it costs. Compare this price with all of your other outgoing expenses for the month, and create a set budget for presents. This way, you won’t make impulse purchases, and you’ll have enough cash left over to cover all of your bills.
You may also want to limit the number of gifts you buy per person. This practice can help you avoid going overboard.
2. Utilize Online Shopping — Safely
Shopping online is easy and convenient. You can avoid crowds, navigate numerous retailers in seconds and find deals you won’t see in-store. That said, it’s important to be aware of the scamming and phishing schemes that can plague shoppers. Avoid these scams by using only legitimate websites and keeping your computer secure. You can use several tips and tricks to stay protected when shopping online this holiday season, including:
- Avoiding public Wi-Fi
- Checking your credit card activity regularly
- Researching what a product should cost ahead of time
- Changing your passwords routinely
- Ensuring the website’s URL begins with “https” rather than “http”
- Keeping your browser and antivirus software up-to-date
3. Download Coupon Apps
Nowadays, clipping coupons is as easy as tapping your phone screen. Isn’t technology great? Platforms like Ibotta and Honey collect discount codes from thousands of businesses across the web so you can save money. They also have rewarding cashback programs that add up quickly.
4. Get a Head Start
For most businesses, holidays mean sales and discounts galore. On the day after Halloween, for example, you can find bags of candy at half their original price. The same is true in November, December and January. You can get ahead of the curve and avoid overspending by taking advantage of these deals. If you start your search in early fall, you’ll give yourself plenty of time to pick the best gifts and avoid the holiday rush. Black Friday is a wonderful time to capitalize on price cuts — just make sure to stick to your budget and list.
Ready, Set, Save
Saving money on gifts this holiday season might seem like an impossible feat. Luckily, these pointers can help you navigate the retail landscape and come out on top. With your budgeted list and coupons in hand, you’ll be on your way to a joyful and affordable holiday season.
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