The holidays are coming up quickly. Ready or not, you’ll have to start thinking about your holiday gift list.
We probably spend the most chunk of money on gifts this time of year. And it can get stressful too, depending on how many gifts you want to give.
Here are 9 ways to save money on gifts. You can pick and choose which ones will work for you and for which person on your list.
Hope this helps you become a more cheerful giver this season!
1. Start your gift shopping early.
If you wait until the last minute, you’ll end up spending more because there will be less items in stock. Thus, your choices will be narrower. Start now, with a clear head and you’ll be under less stress to find the perfect gift. Plus, you’ll have more time to watch sales.
2. Take advantage of Friends and Family discounts.
Right now, retailers want you in the stores early so they’re offering hefty 20% – 40% off discounts. It used to be that these Friends and Family discounts were exclusively available to those who knew an employee of the retailer.
Now retailers are more desperate for your business so they’re opening it up to the general public. So look out for these and take advantage of these discounts!
3. Follow your favorite retailer on Facebook or by email.
Be the first to know about big sales and get special coupons by following your favorite retailers on Facebook or by email. Since Facebook has become so popular now, it’s sometimes the only place they release certain coupons and news.
4. Take advantage of Black Friday sales.
This year Black Friday is on Friday, November 25th. And it isn’t for the faint at heart. You really have to have a strategy and game plan in place in order to be successful. But you could walk away with the best deals of the year!
Check out Amazon’s Black Friday Sale.
5. Get great deals online on Cyber Monday.
Cyber Monday is Monday, November 28th. If you’re not a big fan of waiting in long lines at the store and fighting over parking at the mall, then Cyber Monday may be for you.
Shop at home and get gifts delivered to you is a busy person’s dream come true! Amazon has the most popular Cyber Monday Deals.
6. Enter contests.
Now is a popular time for contests and giveaways – everything from electric mixers to iPads. Money Saving Mom has a great list of giveaways on other blogs so it’s a good place to start with. Enter as many as you can and who knows, you just might win something you can give away as a gift.
7. Make homemade gifts.
Homemade gifts are more personal and are less likely to be returned! See my previous post about 10 Homemade Christmas Gifts for ideas.
8. Do a gift exchange.
This is perhaps the most economical way to save money on gifts besides making your own gifts or not giving gifts at all. Instead of buying a gift for every person in your family, circle of friends, or coworkers, (which is stressful and can get expensive) collaborate to do a gift exchange.
This may work out better in some circles (like co-workers) vs. others, depending on people’s mindsets. So you’ll have to get everyone on the same page. But doesn’t buying 1 gift instead of 10 sound more doable?
Set a price limit and stick with it. Some people may be offended if you spend more than they did. Also, make sure to find out what that person really wants or at least provide a gift receipt.
Another option is to have everyone include their wish list along with their name when the names are drawn. There won’t be as many surprises here and it will be less fun, but at least you’ll know what they want.
9. Give the gift of time.
Instead of exchanging gifts, why not agree to spend time with someone during the holidays instead? My friend and I made this pact years ago to forgo gifts and to just find time in our busy schedules to see each other. I do cherish that time we spent together and haven’t missed the gifts.
Featured in the Festival of Frugality #307.