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How Can I Save on Holiday Shopping?
Are you wondering how to save on holiday shopping? Just know you aren’t alone. 65% of shoppers don’t have money set aside for these holiday purchases and gifts, and 27% said holiday shopping will put a strain the budget, with another 27% said they will go into debt buying gifts. Despite those facts and inflation soaring, there are still so many ways you can save on your holiday shopping.
Use the money-saving tips offered here to shop for the holidays without breaking your budget.
- Shop early
- Experts are urging shoppers to hit the stores earlier than normal this year to take advantage of early-season sales. Lots of big-box stores are struggling with a supply surplus thanks to an inflation-triggered decline in demand. This will likely lead to sales events to make room for more current inventory. Shop these sales for big savings.
- Set a budget
- Before you start shopping, build a reasonable budget for your holiday shopping. Make your budget easier to keep by allocating a specific amount for every gift, shopping with cash and/or reviewing your budget often.
- Shop with a list
- Instead of blindly hitting the stores, make a list of every gift to buy for friends and family. You’ll be far more likely to stay within budget when your purchases are pre-planned.
- Leave some last-minute shopping for Green Monday
- While it’s best to do the bulk of your shopping early in the season, you can leave some last-minute gift-shopping for Green Monday on Dec. 14. This is when retailers make their final pre-holiday markdowns.
- Think outside the box
- If ever there was a holiday season to get creative with gifting, this is it. Retail inventories are full of products that were backed up during the post-pandemic supply-chain disaster. Think furniture, home decor and more. While these items may not be typical holiday gifts, there’s no real reason you can’t delight a loved one with a new office chair, exercise bike or coffee organizing station.
- Give gift cards
- Protect your gift list against inflation by giving some gift cards. You can find discounted cards on sites like GiftCardGranny and CardCash, or use cash-back apps to earn them at no cost. Gift cards are easy to shop for, easy to budget for and appreciated by the receiver.
- Use apps to save
- In 2024, there are so many apps that can help you spend less on your shopping, and even put money back into your pocket. Try coupon-scanning apps like Honey, cash-back apps like Ibotta and points apps like Drop to save this season.
- Look for coupons online
- Check online coupon sites or pay close attention to store apps for discount codes to help you save. You can also use a browser extension such as Honey or Coupert to automatically find coupons while you’re shopping online.
- Compare prices with Google Shopping
- Even if you found a great deal on a product, that doesn’t mean it’s the best price ever. You should keep searching. To make sure that there isn’t a better discount out there somewhere, you can run a price check with Google Shopping. All you have to do is enter the product name into Google Shopping and sort by price to find the lowest one available. It is important to factor in shipping/return costs and policies when making your decision, and only buy from sellers who seem to have a good reputation.
- Shop secondhand sites and apps
- Look at sites like eBay for electronics and Poshmark for apparel and home items. You may be able to find at all the items from top brands going for lower prices. Some large retailers even have eBay stores where you can purchase new and refurbished items with a nice discount, and some Poshmark sellers have new inventory for sale.