The holiday season is one of my favorite times of the year.
When, despite the hustle and bustle and business, people get together and spend quality time with friends and family. They eat good food, savor their drinks, sing silly songs, and watch the most wonderfully impossible movies.
It’s during these times that traditions are made and memories are created.
Even still, the holidays can sometimes become expensive and stressful – if we let them.
In the hurried desire to find the “perfect” gift or surprise that “perfect someone”, we often make decisions that can have consequences that last long after the holidays are over.
This is especially true this year, with its added economic concerns related to multiple health and political lockdowns. That is why it is more important than ever to make good spending decisions.
Always remember that there are ways to show those we love a great holiday experience without the added stress, without the added debt, and without losing all of our savings – by making a few smart choices.
Here are 10 simple ways to help you save money this holiday season without sacrificing time or quality with your loved ones.
1. Shop early
Shopping early will not only help you save money, but it will also give you more options.
It allows you to compare prices between stores and even find great bargains online.
Making sure that you have plenty of time also means that you don’t have to worry about extra shipping costs. You can wait for sales or you can take advantage of affordable interest-free layaway options (yes, they still exist).
2. Use coupons or other loyalty programs
Coupons are another great way to save money because they allow you to get products at discounted prices.
The key is to begin looking for discounts before you go shopping so that you can easily identify the best rates.
Printable online coupons, coupon apps, and coupon codes are all great options. Another great alternative, and my personal favorite, is the use of Cash Back apps like Rakuten.
Many of these apps include browser extensions that automatically search coupon codes to use at check-out and often have great cash-back deals. In addition, their services can be used on the computer, via app, and in-store by linking your credit card information online.
3. Buy generic brands
With so many great alternatives, it’s not always necessary to buy name-brand products. Many off-brand products and electronics are made well, with great quality components.
The key here is to test the items to make sure that they work well and to know your audience.
After all, does your 5 year old really need a pair of air pods or Beats?
4. Avoid impulse purchases
Don’t let yourself be influenced by the salesperson.
Do not fall victim to the pressure to “buy now due to limited quantities” or “buy now before the sale ends”.
Try to plan your holiday purchases in advance. This way, you are seeking out things that are specific and special to the person and avoiding impulse purchases with unexpected costs.
5. Plan ahead
If you are planning to travel during the Christmas holiday to visit family and friends – then I recommend that you purchase your tickets well in advance. This will enable you to take advantage of the lowest fares. The earlier that you begin researching fights, the more opportunity you have to find special promotions offered by airlines.
Booking your flights early also allows you to choose your seat preferences and take advantage of any special upgrades or promotional packages that airlines may be offering. Remember, the earlier you book, the lower the price tag.
One of my favorite apps to use is called Hopper. Once you enter some basic information such as travel dates and locations, the app lets you know if travel tickets are expected to go up or down and whether you should buy the tickets immediately or wait for a better deal. I have found this application to be great in helping me plan and in getting the best possible prices.
6. Make a budget
Before starting to shop, make sure you set aside some funds for your shopping spree. Set a limit for how much you will spend on each item and for each person -> then, stick with it.
Take this a step further and consider implementing a complete budget to avoid overspending in all areas of your life. You will find that, with a proper budget, you can allocate funds for most purchases without worrying if you will have enough to cover your basic expenses.
Budgeting consistently also helps you to identify unnecessary expenses that you can cut back on temporarily to help cover bigger costs more comfortably. For example, you may decide to reduce eating out at restaurants for a while in order to better budget for a big-ticket holiday item.
By sticking to a budget, you will be able to save money and enjoy your holiday.
7. Consider using group or bulk deals.
This might mean buying multiples of the same item at a discounted rate, which works well when buying for large groups like a work or sports team.
Discount sites like Groupon, Living Social, and Travel Zoo do something similar and use the buying power of their large customer base to drive down costs through bulk purchases. Though you may not be able to use these apps for service-oriented gifts (massages, manicures, etc.) without the recipient finding out, many of these apps do have options for gift-giving items such as jewelry, clothing, and home goods.
8 Abandoned Cart Strategy
Although this doesn’t always work, many online retailers have an automatic coding embedded in their webstore which will send you a notification if you add items to your cart but don’t complete the check-out out.
Often this reminder will come with a small discount to encourage you to complete the purchase.
Although it does not happen with every purchase in every store, it certainly happens often enough that it merits a try.
Make sure that you are fully registered on the site, add your items to the cart, then leave the site for a few days and wait. Once you receive that reminder email (hopefully with a discount code attached) complete your purchase and add to your holiday savings.
A word of caution – you may not want to try this tip with items that are in high demand or in low supply. The last thing you want is to successfully add an item to your cart, leave the site for a few days only to find out that it has sold out before you had the option to buy.
9. Focus on experiences instead of things
Instead of searching high and low for more material objects to give, make this holiday season more “experience focused”. Make this year extra memorable by gifting Christmas dinner at your place, hosting a family picnic with the nieces and nephews, or entertaining friends with a night of crafting and cocoa.
Movies and cookies are always welcome and who would say no to Christmas movies in PJs by the fire.
10. Consider something homemade.
At the end of the day, your time, love, and attention mean more than anything else. If you have a talent, such as crafting, baking, painting, creating art with resin, sewing, or photography – think about using that special talent to make something unique for your loved ones.
This way, they will receive something original and you will be able to express your love and creativity while respecting your budget and finances.
The bottom line is that the holiday season is a time of joy and excitement.
However, it can also be stressful, if we let it.
But that is why we need a plan.
If you make sure that you prepare for the holidays season – by making your lists, doing some quick searches, and setting aside enough funds – you can create a season that is free of worry, full of fun, and truly focused on the things that matter most.
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