Have you noticed that Black Friday this year started earlier and you are seeing more and better discounts across different shops?
Well, that's not an illusion. With inflation looming over the economy, retailers are tempted to roll out jaw-dropping deals earlier than ever. And they are not the only ones who are feeling the pressure.
While Black Friday is one of the best times for Christmas shopping, it is also true that everyone is being a bit more careful with their spending this year. According to a recent report by McKinsey, 79% US consumers plan to reduce their holiday spending this year. Another consulting firm, Deloitte, also expects a drop of 18% in consumer spending in November from October.
So, if you find yourself torn between the joy of gift-giving and the burden of expensive gifts, we have some great tips in this blog post to help you save money this holiday season. And the best thing? We are not here to show you where to find the best Black Friday deals. With a little planning and creativity, you can have a special Christmas this year!
1. Create a Christmas gift list
Before shopping impulsively, think twice.
Take you time to contemplate how many gifts and what type of gifts you need to prepare and create a gift list. You can either limit the recipients to those who are closest to you, or choose less expensive but meaningful gifts. For example, stocking stuffers are a great way to share the joy without spending too much on big and expensive Christmas presents.
Having a gift list in place is a smart way to manage your Christmas spending. Most importantly, sticking to your budget will help you avoid overspending and potential credit card debt.
2. Play Secret Santa
If you have a large family or lots of good friends and co-workers, having a gift list is not enough.
Consider organizing a Secret Santa gift exchange with a reasonable spending limit among friends, family, or coworkers. This way, each of you only has to buy one gift, reducing the financial burden for everyone involved.
3. Go for family gifts
Buying gifts for everyone in a family can cost a fortune. Instead, giving a group gift or a family gift that all family members can enjoy is a fantastic way to save money on Christmas, such as board games, travel packages, upgraded wifi or mobile data plans.
Make the most of Black Friday by saving extra on discounted games, booking cheaper travel packages, or securing budget-friendly WiFi and mobile data plans. If you have a family member or close friend who qualifies for federal programs such as Lifeline and the Affordable Connectivity Program (ACP), consider spreading the exciting news that they can get unlimited premier mobile data as your Christmas gift.
By enrolling in these government-funded programs through EASY Wireless, they can enjoy an all-inclusive package that offers unlimited data, talk and text services. What's more, for qualified customers who live in specific states, the package comes with the added bonus of a FREE smartphone from EASY Wireless.
4. Shop online
Now, after the pandemic, many of us have become accustomed to buying almost everything online. It goes without saying that online shopping saves you the hassle of dressing up and driving to physical stores.
But that's not all - the convenience of online shopping extends further. Before making a purchase, you can use price-comparison websites to find the best deal within a matter of minutes and make informed decisions. You can even earn money by shopping online through cashback sites like TopCashBack.
5. Shop secondhand
Shopping secondhand is an effective way to save money while embracing an eco-friendly approach to gift-giving.
From vintage clothing, accessories to antique decor, there are various options to suit every taste and interest. If you are lucky, you may come across hidden gems at great price in local thrift stores.
6. Handmade gifts
Expensive doesn't always mean better. Instead of buying an expensive gift, tap into your creativity to craft something unique. Homemade gifts not only serve as cheaper alternatives, but also bear a personal touch. Nowadays, social media platforms offer a vast range of instructional videos that guide you step-by-step in creating a one-of-a-kind gift.
7. Choose time over money
Not all Christmas gifts come wrapped in glittering paper with fancy gift tags. This year, consider offering your time as a gift to your loved ones. Instead of spending money on physical items, you can create a unique Christmas experience by dedicating your time to activities such as assisting with pet sitting, dog walking, or helping with lawn mowing during the festive period.
8. Send Christmas Cards
Christmas cards is our traditional way to spread joy and warmth, sharing well wishes and love with friends, co-workers and family members. Sending a thoughtful card as a gift, be it a hand-written one or a digital one, can also be one of the ways to save money on Christmas gifts.
9. Gift for the great good
Christmas season is also a good time for us to reflect on our lives and make positive changes within our community. When you spend quality time with your families, think about those who are in need and find ways to extend a helping hand.
One way to make a difference is to make a joint donation to a favorite charity with your friends or family members. In addition to financial contributions, you may also consider spending time on charity activities to actively engage.
10. Shop early
With Christmas only a couple weeks away, it may seem a bit late to say "plan early". However, it's never too late to prepare for next Christmas.
You don't have to wait until Black Friday to start your holiday shopping. Next year, begin planning early and distribute your spending throughout the year. This way, you will have more time to search for coupon codes and discounts online, ensuring a more cost-effective approach to your holiday shopping.