10 Easy Ways To Pay Off Your Holiday Shopping Bills

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No matter how festive you’re feeling or how much you want to deck the halls, holiday shopping can quickly drain your wallet if you’re not prepared. However, with the right strategies, you can save money and stick to your budget without sacrificing great gifts.

Tackling last-minute purchases can be tricky, but with a little planning ahead you can help yourself avoid going into debt. Here are 10 easy ways to save for holiday shopping and keep your finances on track while spreading cheer.

1. Make Your Savings Automatic

Automatic banking processes can make saving for the holidays a breeze. If you’re looking for easy ideas on how to save money, this one is basically a no-brainer.

Just set up an automatic withdrawal that will move money from checking into savings every month. That way, you can save money for the holiday season next year and beyond.

2. Earn (and Stash) Cash Back

It may be time to turn your cash-back reserves into a holiday gift fund. The cash back you’ve earned while grocery shopping or online purchasing can help offset holiday shopping.

Additionally, Rakuten is an online shopping portal where you can earn up to 25% cash back from more than 2,000 retailers. Some stores even offer double cash back for Black Friday purchases you made.

3. Sign Up for Coupon and Sales Alerts

If you have a general plan for which retailers you’re going to visit during holiday sales, sign up for the stores’ deal alerts. By doing so, you’ll get in-store and online coupons sent to your email inbox for those stores that you can redeem to stretch your holiday budget. Simply put, you’re automating your savings and guaranteeing you shop with a coupon in hand.

4. Buy Discount Gift Cards in Advance

Discount gift card sites let you buy other people’s unwanted cards for less than they’re worth. If you buy a $200 gift card to Best Buy, for example, but you paid less than that for it, you’ve got yourself a nice little bonus. Also, if you typically use cash or a debit card to pay for everyday essentials, consider switching to your reward-rich credit card to collect points, which you can redeem for gift cards to use as gifts or as currency for holiday purchases.

5. Open a Christmas Account as an Emergency Savings Fund

Start a separate holiday fund in the best high-yield savings account you can find. This could be implemented for the holidays, but would also help year-round for other events or even financial shocks you might run into throughout the year.

6. Remember To Price-Match or Price Adjust

Before venturing out to shop, arm yourself with the latest technologies available. Price Match at stores using the ShopSavvy, BuyVia or Flipp apps to find not only what big stores price match but also where the lowest prices are currently located.

Best of all, these apps will come in handy when it comes time for Christmas shopping. Find out where to find the most inexpensive Christmas gifts without sacrificing quality. Keep in mind that stores like Walmart or Target price adjust within their own websites or locations if you find the same item for cheaper at another one of their stores. 

7. Follow Favorites on Social Media 

To maximize savings for holiday shopping, get social with your retailers, both online and in traditional stores. Your favorite influencers have a lot of branding and sponsorship deals so they’ll often drop affiliate links in their posts, which, when you click on them, will offer discounts or deals on the brands you’re shopping. 

8. Make Groceries Pay for Gas

Buy gift cards for the stores you plan on shopping at for Christmas from a grocery store that gives you gas points. This way, you can earn a few tanks of free gas if you’re going to be spending that money anyway.

9. Declutter and Sell

Selling unwanted clothing and other items can be a great way to make some cash for the holidays. You can look through the basement, attic or even clear out your kids’ closets and get rid of their old stuff.

Right now is a great time to sell gently used toys and clothing on eBay, clothing at local consignment shops or online at ThredUp, or vintage items on Etsy. Almost all the profit can fund your gift-buying efforts. Action figures, educational toys and board games are among the most popular toys sold online.

10. Cut Down on Impulse Buys

Santa doesn’t impulse buy; he makes a list and checks it twice. To avoid wasting money during the holidays, record every impulse product you considered but didn’t buy and transfer that amount to your holiday savings and watch your fund grow. You might be shocked at the results. 

Paying with cash is a great way to do this, as it only gives you a set amount to spend during your trip to the store. It’s also great preparation for the coming holidays.

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