Frugal Tip

8 Ways to Save Money on Holiday Gifts

The song says “it’s the most wonderful time of the year.” However, if you’re on a tight budget, the holiday season may seem more stressful than joyful. As your shopping list grows, so might your overwhelming sense of dread. But you don’t need to break the bank to give your friends and loved ones amazing gifts! These eight ways to save money on holiday gifts can keep more money in your wallet.

Sale Shop

Shopping sales is one of the most obvious (and fun) ways to save money. Many of the most popular holiday gift items go on sale, so you might be able to avoid paying full price. If you watch like a hawk, you can often snag deals on popular items, like toys, TVs, tablets, cameras, kitchen items, clothing, and more!

Stack Savings

Most stores have some limits, so always read the fine print. For instance, some items are considered “special buys” that can’t be paired with additional discounts. However, that doesn’t mean you can’t stack some savings! If you’re shopping online, you might consider using your Rakuten account for cash back at select stores. Some credit card companies also offer additional savings by shopping through the links they provide, so you might look for offers on your credit card provider’s website.

Shop Early

Some of the best deals of the year are offered exclusively on Black Friday and Cyber Monday. By tackling your shopping list right away, you might be able to enjoy extra savings.

Shop Last Minute

Okay, we’ll admit that this seems to conflict with our last tip. However, shopping last minute is another completely valid way to save money. A lot of stores stock items exclusively for the holiday season, and they need to clear them out to make way for new products. Some stores may clear out select products before Christmas (Costco, we’re looking at you). If you’re not too picky about which specific items you hope you give as gifts, you can find some great deals by shopping last minute.

Agree on Limits

Getting together with your loved ones for Thanksgiving? This might be the perfect time to set some limits on your gift-giving. Many people want to make sure that they give a gift at least as nice as what they’ve received. However, this habit can make costs balloon out of control. Setting a budget limit for everyone to follow can help pop that balloon and bring expenses back down to a more comfortable price range.

Save Your Receipts

You think you found the best deal, but then the price drops more. We’ve all been there. Some stores will give price adjustments on previous purchases, so saving your receipts can help you nab some extra savings. Just be sure to read the store’s return policy to see if your purchase is eligible!

Give Several Small Gifts

Sometimes, giving a few small gifts can seem like more than giving one larger gift. Stocking stuffer items, like small toys and treats, can seem much pricier than they are when you package them nicely. Additionally, some recipients enjoy opening gifts more than they enjoy the gifts themselves, so giving them more to open might be appreciated!

Make Your Gifts

Sometimes, the most cherished gifts are the most personal gifts. Whether you are a terrific cook, baker, or crafter, your friends and family may enjoy homemade gifts even more than they would enjoy pricier store-bought items. If you’re minding your budget, just be sure to consider the expenses associated with ingredients and/or components before diving into a project.

Blowing your budget is all too easy this time of year. While your friends and family may enjoy expensive gifts, there’s no shame if they’re just not in the cards this year. You can show your love in plenty of other ways that don’t jeopardize your financial wellbeing.

These eight ideas are just a few ways to save on holiday gifts. What are your favorite tricks to save money on holiday gifts? Share your ideas in the comments section below!

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