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The holidays are here and you know what that means? It's time to make your lists, set your budgets, and stretch your holiday money as far as possible. Here are a few tips to help you hit the ground running and make the most of each dollar.
Make A List. Check It Twice.
If you only read one tip on this post, make it this one. Make a list of who you will buy for, establish a budget for each person, and then stick to the list! Some apps (like my favorite, Santa's Bag on iOS) will help you organize your list and track your spending. Bonus tip. To prevent any misspending on yourself, set a small budget to treat yourself while shopping for others.
Save Money With Honey
A few Chrome extensions will help you save money, but my favorite is Honey. Honey will tell you the price fluctuations of products on Amazon. And if you add an item to your Amazon wishlist or shopping cart, it will email you if the price drops. You can also earn rewards for shopping and trade them in for gift cards. A bonus is that they will run through all the coupon codes in their database at checkout to get you the best deal.
Interest-Free Credit Options
Look for sites that use interest-free credit options like AfterPay and Klarna to help stretch your holiday shopping budget. Afterpay is a particular favorite of mine. It works by extending you interest-free credit on your purchase, breaking it down into four automatic payments. You can use the service in-store with the app on your phone. The app also lets you track your spending and see when payments will come out of your account.
Be Careful On Black Friday and Cyber Monday
Black Friday and Cyber Monday are not all they are hyped up to be. Watch stores for their "deals" and cross-check them to your list. 2021 saw record lows in quality deals. Avoid impulse buys by sticking to your list; if it's not on there, don't buy it! No matter how good of a deal you think you're getting.
Buy Food In Advance
If you are in charge of a holiday meal, make your menu weeks in advance and then buy what you need a little at a time, so it only hits you a little at a time. This will also ensure you get everything on your list before the last-minute shoppers grab what's left.
Use Cash
To help you stay on track at brick-and-mortar stores, take cash so you don't put too much on your credit or debit card. Seeing it leave your wallet will make you think twice before you buy Uncle Owen that second R2 unit.
Free Shipping Day is December 14th.
Take advantage of Free Shipping Day (December 14th, 2022) from stores that guarantee your packages will arrive by Christmas Eve.
Track Your Stuff
Track your shopping with the UPS, FedEx, and Shopify apps. Set your notifications to ON, so your phone can alert you when you have an incoming package. When something comes in, put a sticky note on it to remind you who it's for and keep all your gifts in one central area, so you don't find a missing present in April.
Final Thoughts – Plan For Next Year
The earlier you plan, the quicker you will be done and the sooner you can enjoy the holidays with one less stressor. And when it's all said and done, start saving up for next year. Set your budget for next year and break it down into monthly installments. Put those installments in a savings account that you can pull from the next holiday season. Your future self will thank you.