I know what you’re thinking. The holidays are still months away and fall is only just getting started. Why should I be concerned about planning my shopping strategy now?
Two reasons. One, waiting until the last minute to shop can be stressful. Trust me, I know. Every year I say I’m going to get a head start and every year, I find myself scrambling to pick up gifts, sometimes as late as Christmas Eve.
The other reason to get a jump on your holiday shopping involves something equally important: money. I can’t tell you how many times I’ve bought gifts on the fly and ended up spending more than I intended to. By doing some prep work ahead of time, I could have saved myself a nice chunk of change and used it to treat myself to a gift.
This year, I’m taking a different approach to my holiday shopping and not wasting any time. To make sure I stick to my budget, I’m putting some money-saving tricks to good use. If you want to jump on the savings bandwagon this holiday season, here’s what you can do to get started now.
1. Do your shopping before Black Friday
Black Friday is usually touted as the kickoff of the holiday shopping season but you don’t have to wait until then to snag a deal. You can hit the Columbus Day sales in early October and then make the rounds of the Veterans Day sales in the second week of November. Columbus Day is good for finding bargains on electronics and shoes while Veterans Day is a prime time for buying furniture and clothing at a discount.
2. Shop your rewards credit card portal
A rewards credit card is a good way to pay for holiday shopping if you’re able to earn cash back on what you spend or points that you can redeem for a statement credit. The key is to make sure you’re only charging what you can afford to pay in full each month so the value of your rewards isn’t diminished by interest charges.
If your credit card has an online shopping portal, that’s an opportunity to get even more savings on gift purchases. For example, I have a Discover it card, which offers a 5% cash back bonus on selected purchases each quarter. When I shop through Discover Deals, I can get up to 10% cash back at selected merchants. Then I can turn around and apply those rewards to what I’ve spent.
Besides that, Discover Deals also offers exclusive discounts from partner merchants. I’ve been able to get $5 off a $25 purchase when I shop at Old Navy and 20% off online purchases at Bath and Body Works. I’m planning to scope out the other deals on the site to see what I can cross off my shopping list.
3. Get on the email lists with your favorite stores
A number of major retailers and restaurants use email to stay connected with their customers and advertise sales. A lot of stores give you an extra incentive to sign up by offering exclusive discounts and coupon codes when you become an email subscriber.
I routinely get coupons in my email from Books A Million, Bath and Body Works, Chili’s and Home Depot because I’ve joined their subscriber lists. It makes my inbox a little cluttered at times but it’s worth it if I can shave a few bucks off my next purchase.
4. Take the surveys on your receipts
The next time you’re shopping in a store, take a second to look closely at your receipt. Chances are, the store sponsors a survey for customer feedback. While some stores enter you into a drawing for completing a survey, others will email you a promo code that’s good towards a future purchase. Books A Million, for instance, sends me a $5 off coupon every time I take one of their surveys.
Taking these surveys does take a few minutes and it won’t make you rich. On the other hand, it can add up to some decent savings if you’re planning to make multiple purchases at the same store during the course of your holiday shopping.
5. Buy in bulk
When I shop for holiday gifts, I try to pick out items that are unique to the person I’m giving them to. Considering that some of my friends have rather eclectic tastes, that can get pretty expensive. Buying things in bulk means I have to get a little more creative about customizing gifts but it can shrink the final cost of shopping.
Wine, candy and cookies are examples of things you can buy in bulk and offer up as gifts. If you want to jazz them up a little, you can repackage them or add a creative touch to the wrapping. From my experience, Mason jars (which you can also buy in bulk) make excellent gift holders and you can add a personal touch by tying some ribbon or a piece of twine around the top.
6. Look for online sellers with free shipping
Shopping online is a good way to get ahead and beat the crowds but you may not save much if you’re paying big bucks for shipping. If you want to complete your shopping via your smartphone or laptop, stick to retailers that offer free shipping promotions so you’re not spending anything extra to have those gifts delivered to your doorstep.
If you really want to save serious bucks on holiday shopping, it all comes down to how much you’re willing to do before the holidays are in full swing. Making a list of what you want to buy, setting the budget for what you’re willing to spend and putting these six tips into action can have you rolling in the green when it’s time to deck the halls.
What’s your holiday spending strategy this year?
