The holiday shopping season this year is going to be more difficult than previous years. This makes it easier to spend too much. You might feel that you haven’t saved enough for the holidays or are feeling the pain of higher prices. The current financial climate is difficult to navigate. Shopping and saving money for the holidays can be a costly and time-consuming venture. These are just a few tips to help you save money this holiday season.
Overspending is easy if you wait until the last minute to buy all your gifts. You are more likely to spend more than you should, and it can make a stressful time even worse. Shop early and often to get the best deals and reduce your spending. Although prices are rising this year, many retailers have already started the holiday sale season. They offer discounts and sales throughout each year.
Take The Time To Find The Best Deals
Even if you have the best intentions, perfect gifts can easily blow your holiday budget. You can use your smartphone to check for a cheaper price if you find a gift you don’t like. If you find a cheaper deal, many stores offer price-matching policies. Keep the receipt with you after making the purchase. In the event that the price drops, you may be able to buy the better deal or return the more expensive purchase.
A good deal doesn’t just have to be about the price. You can also get additional savings by using coupon codes or cash-back deals. These deals can be accessed through apps such as Rakuten or Ibotta. There are many browser extensions and apps that will help you compare and track prices while shopping online. These extensions can search the internet in the background as you shop, and alert you to low prices, coupons codes, and cash-back offers. ShopSavvy and Honey are just a few of the extensions.
Cyber Monday Black Friday
You need to look beyond Cyber Monday and Black Friday. Although the sales that you might see at one-day events may seem appealing, studies show that there is no significant difference in markdowns between regular holiday sales and one-day promotions. There may be other sales that retailers offer during the holiday season, which could be just as good or even better. These deals can be found by following your favourite retailers on social media and regularly visiting their websites.
Stick to your budget. While creating a budget can be challenging, sticking to it is a whole other challenge. To help you create a budget, research the items on your shopping list before you start holiday shopping. You’ll avoid sticker shock by knowing the cost of each item. Cost comparisons can help you determine if you are getting a great deal on a particular item.
You can keep track of your spending by regularly reviewing your statements, paying your bills on time, and using online banking to monitor your accounts. Use a credit card that offers cashback or other rewards if you make purchases using it. You’re likely to spend the money anyway so it makes sense to get something in return, be it travel deals or retail discounts.
Do Not Forget Shipping
An online item may appear to be cheaper than an in-store counterpart, but that’s only until you factor in shipping costs. Be aware of any shipping or service fees. Many retailers offer shipping coupons or participate in National Free Shipping Day. Mid-December is the time for this one-day event. This is a great time to do your holiday shopping last minute and save shipping costs. Most retailers will guarantee delivery before the big day in most cases.
Get Ready For Next Year’s Holiday Shopping Season
It can make a big difference in your holiday shopping experience if you have money saved up for next year. This can make a big difference in your budget and gift ideas, especially for large-ticket items. This saving cushion will help you avoid spending too much or getting into debt over the holidays.
Credit Union of Denver offers a Holiday savings account. This allows you to add funds throughout the year, but it does not allow for withdrawals.
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