As you are no doubt aware, the Christmas season is soon coming. While most of us like this time of year, we aren’t necessarily delighted with what it implies for our bank accounts.
After all, it’s tough to save money when you’re purchasing gifts, travelling, and cooking feasts – especially if you’re on a tight budget.
According to Deloitte, Indian buyers would spend $1,463 on holiday items this year. This is 5% higher than what individuals spent in 2021.
Tips for Holiday Shopping
It’s still possible to avoid further debt and save money this holiday season, no matter what your spending plans are.
As a result, you can still enjoy the holiday season without worrying about the new year’s consequences.
How are you going to make this happen? Here are 12+ Holiday spending suggestions to help you stick to your budget and save for the future.
We’ve highlighted 8 basic buying recommendations below
Make preparations ahead of time
Before going to any store, make a list of everyone you need to buy for and how much you want to spend on them. Remember coworkers, teachers, and other non-family and friend contacts.
You may take advantage of companies’ “Buy Two, Get Third Free” bargains if you know who you need to buy for and how much you can afford to spend.
Make a comparison
Before going into a store, use the Internet to compare prices and products. Not only will doing your research ahead of time save you time, but it will also save you money on gas because you won’t be going all over town.
Take advantage of special offers
Have you bought items from a variety of stores during the course of the year? If you answered yes, now is the time to check to see if you’ve earned any loyalty points, vouchers, or other incentives. Keep an eye out for coupons and savings in your inbox and mailbox.
Save money by waiting for deals and coupons
While waiting until the last minute is not recommended, patience can pay off in some situations. As we come closer to the holidays, big-ticket items, for example, tend to reduce in price.
To eliminate the guessing, become more familiar with the sales cycle of your favourite retailers or pay close attention to weekly fliers.
Signing up for your favourite store’s email will also keep you up to date on special deals and sales.
Even if you despise advertisements, the newsletter will keep you informed of impending special bargains, “hidden” sales, and favoured client sales.
Create lasting memories by prioritising experiences over possessions
Instead of focusing on gifts, consider starting a new tradition with your family. Due to social distance rules, this may look a little different in 2020, but you might think about what activities your family enjoys that are still doable in the current climate.
If your family enjoys going to the movies, for example, consider hosting a family movie night complete with sweets, popcorn, and goodies.
Create a firepit in your backyard (if local laws allow) and roast s’mores while sharing stories. Make a photo scavenger hunt around the neighbourhood with your family.
It’s all about the time
The evening before a sale is scheduled to begin, shop after 6:00 p.m. Many stores configure their registers the night before, thus the deal may already be reflected in the register even if the signage on the selling floor have not yet been updated. Inquire ahead of time about any planned sales, especially on large-ticket products.
Purchase gift cards
Buy gift cards instead of guessing, especially for babysitters, newspaper carriers, doormen, teachers, and other smaller-value recipients. Gift cards are a terrific method to let recipients chose what they want while staying inside a budget.
Postpone your purchase till after the holidays
You can take advantage of after-holiday bargains if you can wait. You may get great deals on decorations, gift bags, and even non-perishable foods at this period.
Just make sure to keep track of everything you got so you don’t buy the same thing again next year.
Protect your identity
With the increase in shopping, it’s no surprise that this is the best time of year for hackers. And, if you become a victim, it may be an expensive and frustrating process. As a result, take the following precautions to protect yourself:
Avoid making online purchases when connected to public Wi-Fi. Make critical web transactions at the library or coffee shop, for example, because open networks aren’t as secure as password-protected ones.
Be wary whenever you come across an offer that appears to be too good to be true. Cyber criminals frequently send phishing emails that appear to be from reputable firms.
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