How to Holiday Shop on a Budget
With the holidays fast approaching, there are many people already wondering what to get their loved ones. Unfortunately, many consumers stress about the holidays because of how much value they place on buying items. Fortunately, to get thoughtful items on a set budget, here are 5 tips:
1. Stick with your budget.
The first thing you should do when planning a shopping spree is determine exactly how much money you will budget for the occasion. By determining your budget beforehand, you will be able to shop within your means.
It is also important to remember that buying a lot of inexpensive items for each person can quickly become costly. If you do choose to buy a lot of inexpensive items, just keep your budget in mind. In some cases, buying one large gift as opposed to many smaller gifts may be better.
2. Watch your credit card use.
Many people rely on their credit cards more when doing holiday shopping. However, whenever possible, you should avoid using your credit cards for anything other than emergencies. By limiting your credit card use, you will reduce the amount of debt incurred for the season. After all, it doesn’t take much before the interest rates start to make paying off purchases difficult.
3. Look for upcoming sales.
If you want to be a smart consumer, you should avoid impulse buys and focus on coming up with a game plan. By checking out store websites and flyers, you will be able to see when certain items come on sale. However, just remember to comparison shop to see if the sales for one store are actually cheaper than sales or regular prices at another store.
If you have a set list of items you want to get, it’s crucial to not by an unlisted and unrelated item just because it’s on sale. However, if the unlisted item is close enough to something that you need, you may want to consider making a compromise.
4. Try social marketplace websites.
If you want to find some great deals, you can try going to a social marketplace to find and purchase items on your list. Since every social marketplace is different, you will need to learn how it works and if the process will benefit you.
5. Try local classified ads.
While some social marketplaces work nationwide, there may be times when you want to keep things local as well. By checking local websites, you may be able to find great items being sold for decent prices. However, when meeting anyone in person for the exchange, always be careful. For example, you should always meet the seller during the day and in a public area, if possible.
When using local classified ads, the items you get may not always be brand new. If your holiday wish list consists of items that work best when brand new, you may want to avoid secondhand items.
With these 5 tips, you can make the holiday shopping less of a hassle and much more rewarding.
Andrew King is an account manager at a bank. He loves to share his best tips for saving money on homeowner and personal finance blogs.
Category: Budget
