7 Ways to Cut Holiday Shopping Costs
Whether you're a last minute shopper or like to plan ahead, you could probably use some help reducing your holiday shopping costs. Here are ways to use apps and other tools to keep your spending under control:
1. Create a holiday spending plan.
A deal is only great if you can afford it. A sale isn't enough of a reason to buy something if you don't have the funds. Deal blogger Tracie Fobes of PennyPenchinMom.com explains that it can be easy to overspend during the holidays. She not only recommends setting a limit for the holiday gifts you plan to purchase, but also believes you should set one for your food, décor and other categories. She recommends using cash or a debit card rather than credit, too.
If you go with the cash or debit spending route, check your balance beforehand and make sure you have enough in your account before shopping. Use your bank's mobile app to check out how much you can spend before you enter the store. You don't want to tack on an extra 35 dollars or more in overdraft fees to your purchase. Also, if you happen to split this account with your significant other, be sure to coordinate spending.
2. Be a receipt stalker.
Finding it hard to keep up with a big wad of receipts after shopping? Then keep track of them digitally with the OneReceipt app. If you find out that something you purchased isn't quite a fit for the recipient on your list after you get it home, then this app gives you a heads up on return policy expiration dates so you can get your money back.
3. Make a list and check it twice.
If you have the Pinterest app on your phone, use it to search for free printables to organize your shopping lists. You can even create a board just to store deals, gift ideas, shopping lists and more. If you have the tradition of shopping the day after Thanksgiving, go in with a plan of attack. The personal finance website ChristianPF.com has a free printable just to map out the Black Friday deals.
4. Get to know the patterns of when deals are updated.
Charlie Cohn at CouponPal.com noticed that HP releases new deals at the beginning of each week, making it a great time to buy, whereas Hotels.com promotes new discounts with less regularity, meaning customers need to check back more frequently to find the best deals.
5. Plan wiggle room for unanticipated deals.
Freelance writer Shanon Lee of MyLoveForWriting.com relies on the RetailMeNot app. "I have saved $10 off a pair of kids shoes at Payless and used the BOGO free deal at Baskin Robbins," she says. She also learned about free samples at Sephora through the app and uses the share button to send her boyfriend coupons over instant message.
6. It pays to compare.
Lauren Greutman from IamThatLady.com is a fan of the Favado app. She says that it lets her find deals while she's out, especially because it shows store sales ads along with the coupons that go with those ads.
7. Giving and receiving can be more cost-effective.
While scouring flyers and searching for coupons is still all the rage, adding another layer of smart spending to the mix can reduce the price of purchases even further. Whether you like to plan out your holiday shopping trips in advance like a pro to maximize savings or you'd rather wrack up discounts as you go, Raise.com just released a new mobile app that mimics its website.
Make smart shopping easy with gift cards that help you skip a rung or two up the smart spending ladder. It allows you to buy and sell gift cards via its mobile app. So if you still have a gift card or two that you haven't spent and would rather sell for extra holiday shopping cash, you can get up to 90 cents on the dollar. So instead of playing Candy Crush while waiting in line, look for gift cards and continue to cut the price tag before you check out.
Whether you plot out every deal of your shopping trip like a saving sleuth or are more of a last minute Larry, you can still reduce the amount you spend on holiday purchases by using these tools and strategies.
Karen Cordaway is a teacher and writer who currently shares money saving ideas on her website, MoneySavingEnthusiast.com.
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