The holiday season is filled with joy, but also full of spending, so is it possible to embrace the merriment of the holidays while still saving a little dough? From budgeting early to shopping smart, think about these four money-saving tips for the holidays as you start scratching people off of your gift list.
Set Spending Limits
Avoid a holiday shopping spree by setting up some spending parameters long before you hit the mall. Start with a gift list and estimate your expenses, leaving wiggle room for unexpected people you may need to buy for, like colleagues and out-of-town relatives. By planning out how much you will likely spend, you can avoid debt and still afford to add to your savings account.
Save Money for Holiday Shopping
Start saving money for the holidays months ahead of the holiday shopping season to pay for potential purchases. Whether you start a coin jar or establish a separate savings account, putting money aside beforehand can help ensure that you can cover holiday spending this year.
Spread Out Your Purchases
Wondering how to save money on holiday shopping for your entire gift list without going into debt? A big money-saving secret is to avoid buying everything at once. When you spread out your purchases over weeks or months, it is also easier for you to cover gifts you pick up on a whim or when you decide to splurge on something extra.
Seek Out Money-saving Deals Online
Scoring deals online can save you big bucks during the busy holiday season. Even with shipping costs, many times you are saving money on gas and your time by shopping online. Or, check with merchants that participate in Free Shipping Day®, which often occurs the week before Christmas Eve, to keep even more money in your pocket.
Learning how to save money on holiday shopping can not only help you avoid debt, but also save you from the stress of scrambling to cover holiday shopping purchases during the holiday season. Whether you put all four money-saving tips for the holidays into play or just try one tip at a time, planning ahead is the best gift you can give to your bank account – and your credit score – by avoiding holiday debt.