The Best Holiday Savings Tips To Stay On Budget
Most of us struggle to stay on budget during the holiday season, which is why all of us can benefit from these 10-holiday savings tips we’ll discuss today. From shopping to shipping, there are ways to stay within your spending limits this Christmas so your wallet doesn’t feel sparse come January.
We’ll talk about:
- Setting and finding the best prices for gifts
- Getting points and cash-back on purchases
- Creating the ultimate gift list
- Dealing with holiday emergencies
- And more…
Create a happy and healthy holiday without breaking the bank this season. Let’s learn how!
Holiday Savings Tips
1. Set Price Limits
It’s important to set price limits for every person on your gift list so that when you get into the store you are not overwhelmed or overspending. Create a list of every person you need to shop for and set a price limit for each.
Your nearest and dearest may be allotted $50+, while your second cousin twice removed you haven’t seen in years may only get $10… or nothing at all.
2. Compare Prices
Comparing prices is especially helpful with big-ticket items, such as a bike or an electronic gadgets. If the one at Target is over your budget, research the same model from other carriers to find the best deal. Some stores even offer price-match policies.
3. Shop Earlier
Overspending is sure to occur if you wait until the last minute to do all your holiday shopping when there are fewer deals and options. One of the best holiday savings tips is to shop weeks or months in advance so you can take advantage of everyday deals as well as holiday specials.
4. With Electronics, Avoid The Latest
If you are gifting an electronic item such as a smartphone, you will definitely find a better deal on last year’s model and usually, the difference in updated features of the latest and greatest isn’t all that different.
5. Use A Rewards Credit Card
Credit cards come in many shapes and sizes and many have amazing rewards and cashback schemes. If you are going to spend the money anyway, you may want to spend it on a credit card to receive the rewards – but remember, only spend on the credit card what you can pay off that billing cycle to avoid fees and interest.
6. Consider Homemade Gifts
You don’t have to be Michelangelo to create something memorable. You can make a Christmas tree ornament, a photo album, or baked sweets to impress your loved ones and save some money in the process. There are plenty of ideas and inspiration on sites like Pinterest and Etsy.
7. Preemptive Saving
Having a savings account set aside specifically for end-of-the-year gifts can help ensure you don’t overspend. Most banks allow for automatic transfers, moving money from a checking account to a savings account with each transaction or once a month can help you to save. Look into savings accounts with a high yield; think 3-4%.
8. Opt For Potlucks Instead Of Holiday Dinners
Getting together with friends over the holidays is wonderful, but it can also get expensive. Another one of our holiday savings tips is to host a potluck or Christmas cocktail party instead of meeting up for drinks or food elsewhere. To cut down on the cost, have everyone bring a drink or food of their choice and enjoy time together without breaking the bank.
9. Don’t Forget Shipping Costs
Sometimes, it seems there are better deals online, but if the shipping costs bring you over budget, buy the item in-store instead. One of our holiday savings tips is also to look for online shipping coupons and free shipping days.
Also, compare online stores. Maybe buying directly from the retailer will have better shipping costs than Amazon or vice versa.
10. Don’t Let Holiday Emergencies Drain Your Account
Unfortunately, broken cars or emergency bills don’t care that it’s the holidays. If you have an urgent expense that you need to cover ASAP, be sure you’re prepared to deal with it. An emergency account is best, but if you don’t have one set up yet, consider an online title loan from Utah Title Loans, Inc. when a financial emergency hits home.
Using A Title Loan For Emergencies
An online title loan from Utah Title Loans, Inc. is for those who need cash fast and own their car outright. If your vehicle is paid off, you could qualify for up to $15,000 through our title loans.
To apply, you’ll only need your car, its lien-free title, and your state I.D. to qualify. The title loan process begins online through our inquiry form and can be completed from home. After a phone call with one of our representatives, you’ll arrange a time and place to meet. The location can be one of our Utah Title Loans, Inc. locations near you or a place of your choosing.
This meeting won’t require much of your time, usually around 30 minutes. This is when the rep will look over your car and documents to determine the amount you qualify for if you meet the criteria for approval. If all checks out, you could have your money on that same day or the following business day.
Stay On Budget This Holiday Season
Our holiday savings tips can save you hundreds this season, but it’s up to you to make them happen. While you can do a lot in the ways of saving and spending, sometimes we are hit with emergencies that can drain our accounts.
If you don’t have emergency funds and need cash to cover an urgent bill, you may want to consider an online title loan. Those who have paid off their cars could qualify for thousands of dollars within a day at Utah Title Loans, Inc. To get started, simply fill out the general form today to learn more and get the help you need to stay on budget this holiday.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.