The holiday season means time with family and new memories, but it can also mean a lot of spending, sometimes too much.
From gifts to travel plans to grocery shopping, the costs can add up and become overwhelming, especially in adifficult economic environment. Holiday shopping can bring joy, but it’s important to stick to a budget and avoid going into debt, said shopping expert Trae Bodge.
“I’m really emphasizing that buyers look for ways to save as much as possible this season. So they don’t carry that debt into next year,” Bodge added.
Here are some expert recommendations to make the most of your budget this holiday season:
Plan your gift list and compare prices
Planning your giftsAs far in advance as possible can be a great way to save money, giving you more time to shop around and compare prices, said Kiersti Torok, a social media content creator known on Instagram and TikTok asTorok Coupon Hunter.
Torok plans his purchases months in advance. Buy chocolate and candy for your children’s Christmas stockings right after Halloween when they are on sale. And it’s not too early to think about next year: Your Christmas decorations are always bought on clearance, especially after Christmas.
“If you wait until two, maybe three days after Christmas, things will start to be 75% off. And that’s when I shop for my kids’ birthdays, because they’re in July,” Torok said.
Compare prices
When looking to buy a gift, Bodge recommends comparing prices with other stores, looking for coupons, and signing up for emails from your favorite stores. That way, you can buy the item when it is at its lowest price.
“I’m always looking for maybe a coupon code, so I can save a certain percentage. Or I can get cash back or get a free shipping offer. I really believe in those tools and use them every time I shop,” Bodge said.
To find deals more easily, Bodge recommends installing browser extensions on your computer. Some of their favorites are PayPal Honey and Rakuten.
Lately, Bodge has also noticed the increasing use ofartificial intelligenceto find holiday gift ideas and deals. However, AI search engines are not very good at finding up-to-date deals, he said. Bodge recommends looking for deals on the store’s website or sites like RetailMeNot.
If you can’t find an item on sale, look for a coupon or wait to see if you can find it cheaper elsewhere.
Save on groceries using coupons
If you’re hosting your family’s Christmas celebration, you might be in a rush between going to the grocery store, cooking a big meal, and decorating your house. But it’s best if you don’t let the Christmas rush distract you fromsave on groceries. Coupons are a great way to cut costs so you can keep your meals on budget and possibly use that money for other expenses. Most grocery stores offer coupons, either in paper, on their website, or in their apps.
Couponing can be time-consuming, but the trade-off can be saving hundreds of dollars on food, according to Torok. If you’re trying coupons for the first time, she recommends taking baby steps.
“If you’re looking to save money and have never used coupons before, my biggest advice is to choose the favorite store that you feel most comfortable with and download their app,” Torok said.
Once you feel comfortable using coupons at your preferred store, Torok recommends that you start comparing prices with other stores nearby. This way you can shop for the best deals and save money.
If you’re looking to maximize your savings, he also recommends taking advantage of websites that give you cash back on your purchases. Examples include Top Cash Back and Ibotta.
Buy in bulk and stock up on food
When preparing your big holiday meal, a helpful savings tactic is to buy in bulk and then freeze it for when you need it, recommended Alli Powell, grocery shopping expert.
“Anything you can store and freeze at a (lower) price and then take it out of the freezer to use later, will be a huge benefit. This is something I try to do year-round,” said Powell, who organizesGirl’s grocery storea blog and Instagram page dedicated to budget shopping.
Big box grocery stores often offer sales around Thanksgiving, Christmas and New Year’s Day, and this can be a perfect opportunity to buy in bulk and save it for another time, Powell said.
Be careful with store credit cards and buy now, pay later
Proceed with caution when purchasingstore credit cardsor make purchases using buy now, pay later. If you’re shopping in person this holiday season, you’ll likely be offered a store credit card at checkout, often along with a deep discount on your current purchase.
Bodge recommends that you only get a store credit card if you know you can pay it off in full each month and have good credit card habits.
“If there is a retailer that you shop with regularly and you are responsible with your credit cards, opening a credit card can be very beneficial,” Bodge said.
If you decide to purchase a store credit card, it is important to know how much interest will be charged. Store credit cards, like traditional credit cards, affect your credit score.
Likewise, making purchases usingbuy now, pay laterIt is only recommended when you are sure you can afford to make all payments on time. Buy now, pay later loans were not previously reported to the three major credit reporting agencies, but consumers will soon see thethey impact your FICO credit scores.
When it comes to travel, flexibility pays off
A common mistake when making travel plans is not allowing yourself much flexibility in your flights, said Kyle Potter, editor of Thrifty Traveler, a travel and flight deals website. To save money on your trip, book your flights first and then your other accommodations, this way you can allow yourself to be as flexible as possible with your flight dates.
“Start with flights first, because that gives you the freedom to change your travel dates even by one day. Especially during the holidays,” Potter said.
Potter recommends tracking prices and setting alarms for flights on Google Flights.
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—Adriana Morga, Associated Press
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