I am a year-round holiday shopper. I am as likely to buy a Christmas present in March or July as I am in November or December. One reason is that I like to shop. Another: I enjoy getting loved ones things they want instead of a last-minute, I-don’t-know-what-to-get, everything-is-picked-over kind of gift. But the third reason is the most responsible: Year-round holiday shopping can help save money. Here are 5 tips:
1. Take advantage of yearly sales. Just about everything goes on sale eventually. The trick is figuring out the best time to buy certain gifts by either asking a store manager or consulting sites that have done the research for you, such as freeshipping.org and lifehacker.com. Often you can use coupons on top of reduced prices, netting significant savings: 75% off bed linens? Yes, please.
2. Work your credit card. Consider using a credit card that offers cash back. For instance, with the new Citi® Double Cash Card, cardholders earn 1% cash back on purchases and 1% as they pay for purchases in full or over time. And there’s no cap on the amount of cash back you can earn. Using such a card can earn you extra money throughout the year.
3. Create a gift closet. If storage is lacking, a box will also do. The point is to have a designated landing place for your gifts. If you bought your child a video game in July but can’t find it come the holidays, you could be paying twice. Keep wrapping supplies and cards left over from last year in the gift area, too; I’ve learned this the hard way. While I’ve always scored year-round gift deals, I used to drop my savings on frantic runs to a chain retailer, where gift bags, wrapping paper, bows, and other items are often expensive. Better to stock up for next year on supplies that go on sale at the end of December.
4. Buy extra gifts. This may seem counterintuitive to saving money. But most of us have been in situations in which we needed gifts unexpectedly. Shopping-wise, nothing drains a wallet more than rushing to find a last-minute present. These occasions frequently occur during the holiday season, whether you need a hostess gift for a big party or a toy for your child’s new best friend. It’s best to get generic, gender-neutral gifts such as picture frames (for adults) or games (for kids).
5. Keep track of your purchases. When you’re buying a holiday gift for someone in the spring, it can be easy to forget who it’s for come wintertime. Use whatever method you prefer to track gift purchases, whether it’s labeling presents with sticky notes, creating a detailed spreadsheet, or using apps that organize holiday gift lists on your smartphone or tablet. Year-round holiday shopping also spreads out the costs so you’re not going into debt by spending all at once. Another bonus, of course, is avoiding the crowds and eliminating overall shopping stress. Fortunately, all it takes is a little planning.
Have we won you over? Or is holiday shopping a tradition worth saving?