The holidays are almost here meaning the biggest spending season is upon us. Here are a few ways to save money this year on holiday shopping.
Make A Gift List
First up, make a gift list of everyone you must shop for this year—then see if you can pair it down. Don’t feel obligated to buy for everyone you have bought for in the past and don’t feel obligated to give because you are receiving. If you have a large family consider drawing names or only buying for the kids.
Set Your Budget
Next up, it’s time to set a realistic budget. You could do this by estimating how much to spend on each person. This might be a flat rate for almost everyone or a varying rate per person.
Plan Your Shopping
Between Black Friday, Cyber Monday, and Small Business Saturday you can knock out most of your holiday shopping at greatly discounted prices. Remember, much of this shopping can be done online. For out of town friends and family consider electronic gift cards or shop in stores that ship directly. Each year I sign up for Amazon Prime at least for the month of December and ship gift wrapped Prime gifts to friends and family. The savings in shipping alone saves me a fortune. Also, shop discount retailers like Marshalls and TJ Maxx for gifts that look like more than they really cost. In addition to shopping, consider making some or all of your gifts this year.
And if it’s in your budget, set aside a few hundred dollars for after Christmas shopping to buy gifts for next year at 50 to 90 percent off!