Whether you are shopping for a few people or your entire family and friends, the thought of spending potentially hundreds of dollars on holiday gifts might feel overwhelming. Especially if you already have debt, you may feel that you can’t afford to get your family nice gifts. The good news is there are ways to save money while you are shopping.
Getting Extra Income
Look for ways to quickly make some extra income that you can then put toward your holiday shopping. You may find some online work you can do in your free time and set aside a little each time that can then go toward your holiday fund. If you have a life insurance policy you no longer need, you might consider selling it for cash. If you are thinking of going this route, you can review a guide that explains how much the policy is worth.
Sticking to Your Shopping List
It’s easy to get distracted by the fun holiday gift sets available in stores, but these can also cost you plenty of money. Instead, set a budget and stick to your list. Figure out how much you can set aside each month and multiply this by 12 to figure out how much you can afford to spend around the holidays. Divide this total number by the number of people you are shopping for to decide how much you can spend on each one. This is just one of many tips for keeping holiday shopping under budget so find what works for you so that you can still enjoy this season without creating financial chaos for yourself.
Shopping Around
You don’t have to buy all your holiday gifts in November or December. For example, if you were hoping to gift your family with new electronics, you might be able to find sales at different times of the year. February is an excellent time to purchase things like appliances, bedding, electronics, and other items. That’s because it’s the end of the season, and retailers will be getting new items in stock soon. Back-to-school is another great time to find deals on stocking stuffers like colored pencils or classroom supplies. And some states also offer sales tax-free weekends for certain items.
Cutting The Price Down
It’s a good idea to use coupons whenever possible as well. This can help you save on items from retailers like grocery stores. Look for relevant coupons before each trip. Even if you spend just a couple of minutes doing this, you could still end up saving several dollars. You can often find the same product at different retailers, so you should do some comparison shopping. Find out how much something costs at different retailers and look for the deals.
Some stores have price-matching policies where a certain retailer will match the price of a competitor. You might contact the customer service department to learn how these policies might work. There are plenty of apps and tools that will help you save money as well. For example, there are browser extensions that will automate savings and let you know when there are sales or discounts. They can compare prices and let you know when the best time to buy is.
