Gift shopping can be one of the most fun parts of the holidays. On the other hand, it can also be one of the most expensive. But little planning and some smart strategies can help stretch your budget. So here are some simple hacks that can make a big difference in how much you spend this season.
Setting a clear holiday budget before you start shopping
Don’t buy anything before you set a gift-giving budget you’re comfortable with. Create a full spending plan or determine how much you want to give per person and stick to it. Once you set a budget, you’ll never overspend and will have stress-free shopping.
Using price comparison tools and apps
The same item can often have a drastically different price tag at different stores. Price comparison sites and shopping apps can take the guesswork out by showing you where the lowest price is in an instant. You can even set up alerts for specific items in case a better price becomes available later.
Shopping during non-peak times or during sales events
Hitting stores before the busy season can net you massive discounts. Many stores offer sales to encourage holiday shopping before the big rush. Shopping during less busy periods can also make it easier to avoid overspending.
Avoiding impulse buys, especially during last-minute shopping
Impulse buys are bad all year, but especially so during the holidays when there’s a high chance that a price tag you overlooked will lead to overspending. Plan your shopping ahead. You’ll have more time to compare, find deals, and make a considered purchase instead of being forced to buy whatever is on sale.
Choosing DIY or homemade gifts instead of store-bought ones
DIY gifts don’t have to be complicated. Simple things like homemade cookies, candles, framed photos, and handwritten letters can often be much more meaningful than something you buy. Handmade gifts often take less money but more time, effort, and care, which most people will appreciate more than generic store-bought items.
Using loyalty programs, cashback offers, and rewards points
Look at what’s available to you before making any purchases. Stores often offer loyalty points, member discounts, or cashback rewards. Check all your apps, emails, and credit card rewards. Points are essentially free money to use on top of an item’s sale price, so max them out while they last.
Pooling resources or group gifting
If someone wants an expensive gift, consider group gifting. Pooling resources means everyone spends much less but the recipient still receives something useful (or indulgent) that they otherwise couldn’t have gotten on their own. This is especially good for electronics, appliances, or experience-based gifts.
Buying store brands or generic alternatives
Private label or store brand items are nearly identical to brand name products, and you can buy them at a fraction of the price. For things like beauty products, food, or home goods this is a smart substitution.
Researching seasonal price hikes before purchasing
Check the average price of an item in your area and see when it’s cheapest throughout the year. For holiday gifts, there’s a chance that the price of popular toys or electronics will drop significantly a month or two before they’re sold out.
Avoiding impulse buys triggered by advertising
Holiday advertising and marketing intentionally upsells products. So always think twice before buying. And only choose gifts that are truly planned and appropriate.
Reusing or repurposing items you already own
Got an old set of photo frames? Have a lightly used hairdryer sitting in a drawer? Buy a cute case and wrap it as a gift. Find creative ways to upgrade. Use two items together, or give a seldom-used item a fresh coat of paint.
Planning gifts based on what recipients need
Buying something because everyone’s talking about it and everyone has it will usually cost you more. Chances are, a gift that someone needs will be cheaper and more useful than the latest gadget or clothing item no one will remember in a few months.
The following sources were consulted in the preparation of this article:
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