November 15, 2021 • Brinette Owens

Try These 6 Spending Hacks this Holiday Season

The holidays are upon us, and it's the season of giving, which means it's also the season of spending. Holidays shopping is a big deal for many individuals and families! Grabbing gifts for loved ones, finding stocking stuffers for younger family members, and participating in the Secret Santa at work—at this time of the year, you need a game plan to get all of the shopping done. No worries! We've got your back with six of our own holiday spending hacks.

1. Create a Budget

Photo by Kelly Sikkema on Unsplash

The average American spent about $942 on holiday gifts. Whether your budget is smaller or larger than the average, a budget is an essential part of holiday spending. Determine before you shop your limits and expected budget for gifts, and always plan a little extra cushion in your budget for those times you find the perfect last minute gift. Having a budget will ensures you won't unexpectedly break the bank this holiday season.

2. Start Shopping as Early as Possible

Photo by freestocks on Unsplash

A budget without a timeline is like using a GPS without an address. Shopping early is just a good holiday spending practice. November is prime time for shopping for deal hunters and helps you beat the rush and slim pickings of the late holiday shopping scene. Avoid having to rummage through nearly shelves because you didn't plan to shop ahead. Trust this classic holiday shopping advice.

3. Take Advantage of Holiday Promotions

Photo by Artem Beliaikin on Unsplash

Black Friday promotions and holiday promotions in December are excellent opportunities to snag holiday-specific gifts and take advantage of the discounts business are seeking to provide their customers. Holiday promotions give customers the chance to take advantage of the generous discounts stores will offer to compete for your preference.

4. Minimize Your Shopping Trips

Photo by Ron Dauphin on Unsplash

Shopping at stores (or even mall locations) that help you minimize your trips to the register is not only a breath of fresh air, but it also keeps you within or even under your budget! Many stores offer better discounts for larger dollar purchases. Bundling your shopping to minimize the amount of trips saves on travel expenses, but especially time!

5. Check Out the In-Store and Online Only Sales

Photo by Mike Petrucci on Unsplash

With the pandemic, you might be reluctant to shop in-store, but businesses know that. Take advantage of the sales stores that offer checkout-specific discounts. With the pandemic retail stores saw a drop in customers, this holiday season store will certainly entice shoppers with exclusive in-store and online only discounts. Make sure you look out for these sales and don't miss out on them!

6. Subscribe to Store Newsletters

Newsletters are a business's way of really providing the most value to their customers. Subscribers often get privileges like being the first to know about new arrivals and get early access and special discounts as valued customers. (Subscribe here to read more awesome blogs from us here at Alchemy.)

Honestly, the holiday season can get just plain expensive. With the average holiday spending in the U.S. reaching over $700 billion annually we hope these six holiday spending hacks will get you and your bank through the busiest, most costly time of the year. Happy giving!

We are on social media! Are you following us on Facebook and Instagram?