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6 Ways to Save Money on Christmas Gifts

By on December 6, 2018
6 Ways to Save Money on Christmas Gifts

Christmas is a magical time of year. It’s a wonderful season to spend with friends, family, and loved ones, even if the weather isn’t quite so nice. Christmas is also a holiday of giving, but you don’t necessarily need to spend a lot to show your loved ones you care. Keep reading to learn some simple ways to save money on Christmas gifts this year.

1. Start Shopping Early

If you want to get the best deals on everything on your shopping list, the key is to start early. Make your list as far ahead as you can, then keep tabs on weekly sales fliers, online coupons and deals, even major shopping holidays like Black Friday and Cyber Monday.

2. Don’t Stray from Your List

It’s easy to get caught up in the magic of the holiday season, but if you want to keep your holiday spending to a minimum you need to avoid impulse buys. In addition to creating your shopping list early for the sake of finding the best prices, it will also help you cut down on extra spending. Ask yourself if you really need that candy cane-shaped pillow or that scented candle and say no if it’s not on the list.

3. Slow Your Roll

Have you ever gone shopping with a particular gift in mind, only to end up adding extra gifts on top? When you find that perfect sweater for your sister in-law, it’s hard to resist the matching scarf and earrings. This is called the “shopping momentum effect” and all those purchases can add up quickly. To avoid it, take a break after each purchase to center yourself.

4. Buy Discounted Gift Cards

Another benefit of making your shopping list early is that you will already have some idea where you’re going to be doing most of your shopping. At that point, you can purchase discounted gift cards online and use them like cash to buy your gifts. You could save as much as 30% on the face value of gift cards from popular retailers at websites like GiftCards.com and GiftCardRescue.com.

5. Take Advantage of Cash Back Offers

If you already have a cash-back credit card, using it to make your holiday purchases could save you some money in the form of a statement credit. Another option is to sign up for cash-back websites like Honey Gold and eBates.com. All the cash back you earn could buy you a little something for yourself or you can use it to lessen the shock of that first post-holiday credit card bill.

6. Share the Load

If you have a large group of people to buy for (such as a group of friends or coworkers), see if they’d be willing to organize a group exchange or a Secret Santa exchange to lessen everyone’s financial load. You’ll all still receive a gift, but you’ll be buying one instead of several. And don’t forget to set a spending limit so no one gets the short end of the stick!

The most important thing to remember this holiday season is that it doesn’t matter how much you do or don’t spend. What matters is the time you spend with the people you love. So, make the most of your holiday season this year!

Frugal Village

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