More Cheer, Less Stress: Your Guide to Savvy Seasonal Shopping

The leaves are changing, and the weather is getting colder, which means the holidays are upon us! ‘Tis the season for family dinners, plenty of cheer, and added stress to your wallet.

The holidays can be full of relaxation and season’s greetings, but if you aren’t careful, you can greet the new year with more debt. That’s why our EdiFi Experts put their heads together to bring you holiday shopping tips that are sure to spread joy!

Create a holiday budget

Even with the holidays rapidly approaching, it’s not too late to create a holiday budget! If you have a monthly budget you’ve spent time updating, factoring in holiday expenses should be easy. 

New to budgeting? No problem— check out our budgeting series for a step-by-step guide to smart money management.

Once your budget is in front of you, look at the money you’ve squirreled away all year. Decide how much of your yearly savings you want to use for gifts— that’s your maximum spending limit. Next, follow these simple steps to holiday spending on a budget:

1. Make a list of everyone you’re buying for
2. Brainstorm gift ideas under each name
3. Assign a dollar amount to each gift 
4. See how close you are to your maximum spending limit
5. Adjust as necessary

Remember: Don’t spend money you don’t have! You have a budget for a reason— stick to it and avoid splurging unless you absolutely have to.

Make discounts work for you

Now that you have your budget, it’s time to make deals work for you! Take advantage of Black Friday and Cyber Monday deals, cut coupons, and learn how using your credit card could win you a trip to Hawaii!

Prefer to shop in-store but want to avoid the Black Friday rush? Check whether the store offers price matching— researching the best deals beforehand can save you money in the long run.

Remember, not all gifts are material! Buying for the whole family? Consider booking an experience or excursion. Some companies may give you a discount for buying in bulk. 

Watch out for unexpected fees

Buying gifts online sometimes comes with fees you don’t notice until checkout. Avoid deals that are contingent on spending a certain amount, especially if they pressure you to spend more than you intended.

Make sure you factor in shipping costs to your total before settling on a gift. Especially, if you’re purchasing gifts from international sources, international shipping fees are no joke!

Also, look out for added credit card fees! Most retailers— both online and in person —will mention whether they charge extra for credit card purchases, but clarify just in case. A few dollars here and there go a long way.

At the end of the day, remember to stick to your budget, make deals work for you, and watch out for unexpected fees, like shipping costs and credit card surcharges. Let’s greet the new year with a toast and some fireworks, not more debt for you to juggle.

If you have any questions or want to share your holiday spending experiences, feel free to reach out to the EdiFi team!