Amazon’s Prime Big Deal Days event is next week: Oct. 10-11. Call it “Prime Day 2.0” if you agree the name doesn’t roll off the tongue. The event promises another round of lowered prices on all sorts of products and an opportunity to cross-shop competing retailers.
October sales at a glance
Black Friday in October may be Amazon’s idea, but other retailers aren’t to be out-dollared. Here’s a rundown of the deal dates and some need-to-knows.
Target Circle Week is already on, running Oct. 1-7.
Deals are exclusive to Target Circle members, but Circle is free to join and use.
Get discounts online or in-store on items ranging from toys and kitchen supplies to everyday essentials like diapers and wipes.
Walmart’s Deals Holiday Kickoff begins at 7 p.m. ET on Oct. 9 and runs through Oct. 12.
This sale isn’t exclusive to Walmart+ members, so all shoppers can access the deals.
Expect discounts on giftable items like electronics, apparel, home decor and more.
Amazon’s Prime Big Deal Days begins at 3 a.m. ET on Oct. 10 and runs through Oct. 11.
Deals are exclusive to Amazon Prime members; Prime costs $14.99 a month or $139 a year. (There’s a 30-day free trial option for newbies.)
Expect deal drops throughout the event, and Prime members can request special invites ahead of time to doorbusters that may sell out.
Oh, and Best Buy has a 48-Hour Flash Sale on Oct. 10-11.
It’s like “shopping Armageddon,” says Charles Lindsey, associate professor of marketing at the University at Buffalo School of Management. “Retailers are going earlier and earlier every year in the hopes of locking in a certain percentage of consumers’ ‘holiday wallets’ before other retailers can,” he says.
Similar sales at the same time last year gave people a good reason to jump into Black Friday shopping early. Prices on popular products monitored by NerdWallet hit or matched year lows.
But the extended season of sales creates more opportunities for shoppers to bust their gift-buying budgets, says Lindsey.
Try these methods to shop the onslaught of early sales in a way that preserves your holiday wallet.
1. Make a game plan
Approach internet sales with a plan, says Lars Perner, assistant professor of clinical marketing at the University of Southern California. “If you go online and look at all of these great deals, you’re going to be tempted, and you may end up buying things that you otherwise wouldn’t have bought,” he adds.
Amazon shoppers can likely relate. You go online for a specific item, say a wireless mouse for your laptop, and you check out with the mouse, plus a massage gun and a DIY home security system because of the in-your-face markdowns.
Make a list of what you need and know your gift-buying and fun money budget before you browse.
“We only have a limited amount of money to spend,” says Perner. So be ready to be enticed and understand the implications of overspending, he adds.
2. Shop intentionally and set a time limit
Maybe you’ve heard of timeboxing work tasks. It’s a strategy where you schedule time for a task, stay with it for a short burst, then move on. The concept promotes focus and clarity of objective, according to the Project Management Institute. You can use this method for a more focused and budget-conscious online shopping experience.
If you plan to peruse, resist the urge to check Amazon like a social media app, and pick a finite time of day to do it. Maybe you end your day with a half-hour online to browse the deals when your mind is clear and guard is up against overbuying.
3. Get a good price and know it
With deals happening all the time, it’s no longer enough to take the sale price at face value. Perner points out how markdowns can be misleading.
“The deal might say 45% off, but that’s not going to be 45% off the regular price,” he says. Instead, it’s more likely to be a percentage off the item’s list or suggested retail price, which might not reflect what the retailer typically charges.
“It may still be a nice deal, you know, 15% off, say, the regular price. But again, some of the discounts are going to seem bigger than they really are,” says Perner.
You can easily get a feel for the going rate before you buy. Lindsey encourages shoppers to use a site like Camelcamelcamel, which tracks the price history of products sold on Amazon, or other browser-based coupon finders to confirm the quality of deals. The Honey extension, a software add-on for browsers like Chrome, also displays the price of products over time.
4. Wait for Black Friday if you want
Of course, you can roll the dice and wait for the day after Thanksgiving. NerdWallet’s data shows Prime Day and early October sales like Prime Big Deal Days present prices competitive with Black Friday, but there’s no substitute for the real thing. Actual Black Friday (and Cyber Monday) sales events still rock, and there’s less threat of disruption this year.
“The last few years [of] Black Friday sales might have been more limited during the pandemic,” says Perner. He recalls the supply chain challenges and backlog of ships coming into ports.
“But we’re past that now, and the Chinese economy is slowing down,” he adds.
Perner says those factors could lower the cost to produce imported goods. That could lead retailers to offer even better deals.
5. Skip the deal days altogether
Perner says sometimes he’ll check out Amazon’s deal of the day when he needs a break, but he has become better able to resist buying things over time. One tactic he suggests: Let the delivery boxes accumulate in the hall or garage as “visual evidence of how much you might be buying.”
Maybe you don’t need all that stuff.
It certainly is hard to put down the phone or close the laptop when holiday sales kickoff days have a regular place on the calendar and in the culture. But if you can resist the temptation, you could save the most money by skipping the deal days altogether.
Inside: Looking to celebrate Christmas on a budget? This guide has you covered with creative and affordable ways to do just that.
Are you stressed out about how to afford a fabulous Christmas on your budget? Worry not.
This festive season isn’t about how much cash you fork out, it’s about creating lasting memories and spreading joy.
Why let financial woes dampen the joyous yuletide spirit when you can celebrate a charming Christmas on a budget?
Remember, it’s your money, your decisions, and your rules – no guilt trips or social pressures should force you into spending Christmas in debt.
Today you will learn:
Determine your Christmas budget: Figure out what’s a comfortable amount for you to spend and stick to it religiously.
Be creative with gift giving: Homemade presents or heartfelt letters can be more valuable than pricey items.
Find simple ways to save money: Use these money saving tips to enjoy a festive holiday season.
This holiday season, celebrate responsibly, within your means, for a Christmas that’s merry, bright, and totally guilt-free!
Why Celebrate Christmas on a Budget?
Embracing a budget-friendly Christmas can prove to be not only a smart choice but one filled with warmth, delight, and genuine joy.
Enjoy valuable family bonding time with exciting games and shared activities. Volunteer work, a day of holiday baking, or a simple drive-through Christmas lights sightseeing trip can leave a lasting impression. Look through this Christmas bucket list.
Opt for economical, yet thoughtful gifts or stick to fun gift exchange rules, such as the “four gift rule” for your kids. Remember, it’s the sentiment behind the gift that matters the most.
In essence, an economical holiday season needn’t be a dull affair, rather it’s an opportunity to make it more heartfelt and unforgettable.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What to buy for Christmas on a tight budget?
Yes, friend, you can buy meaningful Christmas gifts while sticking to a budget.
In fact, the thought behind a gift is often what makes it special, not the price tag.
A few ideas include homemade gifts, gift cards, subscriptions, and second-hand items. With a little creativity, you can find the perfect present for everyone on your list without spending a fortune.
Below you will find plenty of great gift guides for Christmas that won’t break the bank.
Benefits of a Budget Christmas
1. Allows you to plan ahead and stay on track 2. Prevents overspending 3. Buy gifts that are within your budget 4. Focus on quality over quantity 5. Ensures that everyone gets a gift 6. Helps you avoid debt during the holidays 7. Prevents you from feeling stressed out about money during the holidays 8. Be creative and come up with unique gifts 9. Save for next year’s holiday budget 10. Stay connected to the spirit of the holidays
Savings with Christmas on a Budget
From homemade Christmas decorations to unique gift ideas, it’s possible to create magical moments that’ll last a lifetime without a hefty price tag.
Embrace the true spirit of Christmas – love, family, and togetherness, rather than commercialism, and read on to discover how.
Learn the simple ways to celebrate the festive season without breaking the bank with our creative and budget-friendly Christmas ideas.
1. Think about a No Gift Christmas
Having a No Gift Christmas is a creative and budget-saving alternative to traditional holiday festivities, especially suitable if funds are tight. Why not consider it?
Here are some benefits:
You can alleviate the holiday stress often associated with spending on gifts.
It fosters the idea of Christmas as a season of togetherness, not just gift-giving.
It offers the potential for unique and memorable experiences, like volunteering or creating fun traditions with your loved ones.
Remember, having a memorable Christmas doesn’t have to cost much, or anything at all Learn more about a no gift Christmas.
2. Make Your Own Gifts
DIY Christmas gifts are your perfect solution. They not only save pennies but are laced with your love and creativity.
Start by exploring plenty of creative gift ideas available for free online. Need help? Look for “homemade gifts for Christmas” and you’ll be surprised.
Compile a list of possible gifts from homemade candles to personalized coupon books, keeping the recipient’s likes in mind.
Remember, your efforts will reflect in your gift. So, unleash your creativity and let the magic begin.
3. Borrow Instead of Buy
Borrowing instead of buying is a clever way to have a festive holiday while keeping things budget-friendly. This concept is simple: swap decorations, games, or even gifts with friends, neighbors, or family
Discuss your idea with your circle and organize swapping parties to exchange items.
The key is to creatively engage and make it a fun, budget-conscious activity. After all, Christmas is about sharing and caring!
Remember, return borrowed items in their original condition to maintain trust.
4. Attend Free Events
The Christmas season doesn’t have to be a strain on your wallet. Attending free community events can provide fun and festive celebrations:
To find these events, check your local newspaper or community websites. Be sure to:
Take advantage of free refreshments, but also bring your own to share.
Consider hosting a potluck dinner before or after community events.
Attending free events supports your local community.
Remember, Christmas is about togetherness, not extravagant spending.
5. Make Your Own Decorations
To create a festive atmosphere this season, you could repurpose items around your house or make your own decorations.
Choose a color theme and gather items in those shades, then place them together on a mantel or coffee table to create a coordinated layout.
For a natural touch, clip pine needles, branches, or herbs from your garden, and enhance them with glitter.
Additional budget-friendly options include taking advantage of sales and discounts at thrift stores or crafting handmade decorations such as ribbons from fabric strips or Christmas cookie ornaments.
6. Keep Track of Your Christmas Expenses
Just like throughout the year, budgeting is critical to your financial success.
Nothing changes with Christmas, it is crucial to track and budget your holiday expenses. Jot down every potential cost – from the Christmas tree, and food, to holiday décor.
Be thoughtful about what you really need and opt for items you can use for years.
This is one of the cash envelope categories I recommend saving for. To effectively manage your expenses, assign specific dollar amounts to each item on the list, ensuring you stay within your budget.
Enjoy guilt-free spending and effortless saving with a friendly, flexible method for managing your finances.
Start Your Free Trial.
7. Share the Spirit
Embracing frugality during the holiday season can not only help you save money, but can also create memorable experiences and meaningful connections.
Small gestures, such as sending heartwarming physical letters to loved ones instead of emails, can still convey thoughtfulness and spur the holiday spirit.
By centering your holidays around family activities and endeavors, like homemade ornaments or a scavenger hunt with small gifts, the focus shifts from materialism to fellowship and unity.
Find more frugal Christmas ideas.
8. Check Out Bargain Stores
Bargain stores provide the perfect solution for savvy holiday shoppers looking to save money without compromising on quality or variety. Not only can you find unique, quirky gifts, but you can also keep a lid on your spending while doing so.
Stores like consignment shops or websites such as Craigslist often have high-quality used toys that are nearly new if you’re willing to look carefully.
Another option is to look at discount retailers like TJMaxx as they often host sales during the holiday season, making it even easier for you to save money while hunting for the perfect gifts.
9. Save Money Throughout the Year
Automating your savings for the Christmas season can be a practical and efficient strategy. The 100 envelope challenge is perfect for this!
By setting aside just $50 each month, you could accumulate up to $600 by December, providing a decent budget for your holiday expenses. This method can ease the financial stress during the holiday season, letting you enjoy the festivities without worrying about overspending.
Consider setting up automatic transfers to a high-interest savings account. This ensures your Christmas funds grow without your intervention.
Lastly, try a no-spend month where you only cover essential bills, giving your savings a significant boost.
10. Start a Side Hustle for More Money to Spend
Engaging in side hustles throughout the year can help you significantly cover your holiday expenses.
By delivering food, completing microtasks, selling gently used items, or shoveling snow, you create extra earnings that can go directly into your Christmas fund.
For instance, extra income from a seasonal retail job could help finance gift-purchasing without straining your usual budget.
This strategy not only prevents potential post-holiday debt but also allows you to enjoy the season without financial stress.
In fact, more people are interested in how to make money online for beginners.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
11. Shop Online Instead of Going to the Mall
Shopping online for your Christmas gifts can seriously ease your holiday stress, and potentially save you money.
Let’s explore why skipping the mall and clicking your way to a merry Christmas might be your best bet this year:
No dealing with holiday crowds or cranky shoppers.
Enjoy sales and deals without leaving your home.
Track prices over time to grab the best deals.
Use Rakuten to save even more money on purchases.
For smart online shopping, prepare a list of gifts before diving in. Take advantage of the “wish list” option on platforms to curate items of choice and make sure you first glance over deal sites before making purchases.
12. Have a Christmas Potluck
Host a festive potluck! Invite friends and family, asking each to bring their favorite dish.
Here are some tips for a successful event:
Get organized and ask guests to bring specific types of food. This prevents duplicate dishes and ensures a balanced meal.
Introduce a fun element. Try a cookie swap or a silly game like “Guess the Cookie.”
Keep decor simple. A large vase filled with greenery and baubles can effectively replace a pricey Christmas tree.
Remember simplicity is key in food and decor. Costly ingredients and complicated recipes aren’t prerequisites for a memorable Christmas.
Remember, the holiday is about togetherness, not extravagance!
13. Make Your Own Cookies
There’s a unique pleasure derived from making your own cookies during the holiday season instead of buying them. More so, the cookies you’ve invested your time and creativity into can double as thoughtful, homemade gifts, adding another level of sentiment.
Apart from being a cost-effective option, it brings an opportunity to bond with friends and family during cookie exchange or decorating gatherings.
Making your personally crafted cookies also gives you control over ingredients catering to specific dietary needs or preference
Indeed, making your own cookies adds value that surpasses the mere cost savings, it infuses the holiday season with warmth, joy, and a sense of shared experience.
14. Cross Off Activities from your Christmas Bucket List
Having a joyful Christmas doesn’t necessarily mean overspending. In fact, integrating cost-effective activities into your holiday routine can make the season more meaningful and fun.
This Christmas Bucket list post offers an extensive and diverse list of creative ideas for budget-friendly Christmas shopping, gifting, and celebrating.
Additionally, downloading the free printables and a Christmas Budget Template will make the process even more manageable and fun.
15. Have a No-Gift Party
A no-gift Christmas party is an affordable and fun holiday celebration where attendees do not exchange gifts. It’s a great option for those looking to save money and still enjoy the festive season.
Here are steps to make it happen:
Step 1: Decide on the party type, either a simple gathering or a potluck dinner.
Step 2: Inform guests about the no-gift policy in advance.
Step 3: Organize exciting, cost-effective activities such as a game night.
Step 4: Engage guests with games for a joyful event.
Expert Tip: Conversation and laughter are your best tools.
16. Make a Christmas Memory Book
Creating a Christmas memory book is an affordable and engaging way to celebrate the holiday season, especially when you’re on a tight budget.
To start, you can utilize items already at your disposal in your house such as old photos, greeting cards, and crafts.
Spend some time penning down heartfelt messages and your favorite holiday memories associated with each picture or craft. Embellish the pages with affordable decorating materials like glitter, stickers, or color pens.
Not only does this create a personalized touch, but it also serves as a nostalgic keepsake that can be cherished for years to come.
Tip: Digitize your memory book by creating an electronic version. This can also help preserve the original items.
17. Spend Time With Loved Ones
Celebrating Christmas on a budget doesn’t mean skipping on the fun.
It’s about cherishing time spent with loved ones, harnessing creativity, and making priceless memories that last a lifetime.
Here are some cost-effective activities you can embrace this festive season:
Share stories of memorable Christmas experiences.
Organize virtual celebrations with extended family and friends.
Create your own family-themed board game.
Bake Christmas cookies or make a popcorn Christmas tree.
Stream a Christmas church service.
If snow is around, engage in snow play.
Dance to classic Christmas music.
Put together an annual family calendar.
Participate in one of these Christmas Challenges!
Remember, it’s not about what’s under the tree that matters, but rather, who’s around it.
18. Stash Christmas presents all year
Do what I do! Begin addressing the issue of holiday budgeting by stashing Christmas presents all year round.
This is a smart and stress-reducing move!
Find deals throughout the year rather than spending lavishly in December. Hang on to items like discounted gifts in your secret gift closet!
As you build an inventory of diverse items, you will be ready for birthdays or sudden party invites – you’re always prepared!
Just be careful to stop shopping when your list is fulfilled to avoid overspending.
19. Write a Christmas Gift List
Creating a Christmas gift list can be an effective way to manage your holiday spending. This helps you understand the overall picture of your holiday expenditure.
Start by writing down the names of every person for whom you consider buying a gift.
Then, determine how much you’re willing and able to spend on each individual. This helps you understand the overall picture of your holiday expenditure.
Take time to brainstorm potential gift ideas within your decided budget for each person. This process can be even easier and more informative if you’re able to reference a gift list from previous years.
Ultimately, the goal is to ensure that your total intended spending is reasonable and manageable for your personal financial situation.
Remember, you may not need to buy gifts for everyone on your list – some individuals might appreciate homemade or free gifts just as much.
20. Choose Great holiday things to do for less
Set aside the societal notion of linking the joy of holidays to copious spending, and welcome small, inexpensive, yet heartfelt gestures.
Adopting a mindset that finds value in low-cost or even free activities, especially during the holiday season, can not only alleviate financial pressure but also create cherished memories.
Instead of focusing on extravagance and materialistic desires, turning attention to experiences and emotional bonding can revolutionize the celebration!
You can always find things to do on Christmas Day.
21. Think Outside the Box With Gifts
Finding affordable gifts doesn’t mean you have to sacrifice quality or thoughtfulness.
By utilizing a gift guide such as the 4 gift rule – something they want, need, to wear, or read – you can ensure a well-rounded and meaningful set of gifts for each child.
Alternately, consulting lists of inexpensive yet creative suggestions like those curated by Money Bliss can help you find unique presents that won’t break the bank. These affordable finds range from books, gadgets, to personal care items, and home accessories.
Regardless of budget, the key to successful gift-giving lies in understanding the recipient’s needs and interests.
22. Consider Re-Gifting
Re-gifting is a practical, budget-friendly, and environmentally-friendly way to celebrate Christmas. It allows unused or unwanted items another chance to be appreciated and might save you some cash too.
Here are some regifting tips:
Ensure the gift is in good condition, unwanted but quality, and not linked back to its original giver.
Consider the preferences of the new recipient, ensuring the gift suits them.
Completely re-wrap the gift to give it a fresh appearance.
Some may debate the etiquette of re-gifting but remember, it’s more about the thought and less about where the gift originated.
Making smart choices can ensure a successful and fun re-gifting experience this festive season.
23. Use Gift Cards or Cash App to Stay on Budget
Purchase a prepaid gift card from your favorite store to ensure you’re limiting your spending to a specific amount and preventing the temptation of overspending.
If you’re planning to shop from a range of places, opt for a Mastercard of Visa prepaid card. While there may be an activation fee, it’s ultimately going to be less than what you’d potentially overspend.
Another great option is using the Cash App card and learn where you can load your Cash App card.
Also, you can use budget tracker apps like YNAB or Simplifi. These can help you meticulously keep track of your spending and stay within your budget.
Remember, the key is to stick to a budget and avoid falling prey to impulsive purchases. Using gift cards or these budgeting apps makes it easier to limit and monitor your expenses.
24. Use Money Gift Ideas Wisely
Money gift ideas can be an excellent alternative to traditional presents, especially when budgeting is a critical aspect.
Too many times, money gift ideas are overlooked as impersonal, but a money gift box or money cake will definitely surprise the recipient.
This will guarantee you will stay within your target budget by using money gift ideas.
For larger families, a gift exchange with a set price limit can keep costs manageable.
25. Donate to Charity Or Volunteer
Volunteering at a charity is a meaningful way to give back during the holiday season that doesn’t put a strain on your budget.
Instead of buying more items a person may not need, you’re investing time, money, and energy in causes they care about. Although this doesn’t require a financial commitment, it’s a generous gift full of sentiments.
Furthermore, donating money to a charity in someone’s name is a thoughtful and effective way to honor someone who already has everything they need. It allows the recipient to feel the joy of giving, yet remains a budget-friendly option for the giver.
If you’re keen on frugal yet meaningful ways to celebrate Christmas, how about considering charitable donations? It’s a splendid alternative to traditional gift-giving – not hard on your wallet, plus it makes a difference!
Most people know it is hard enough to buy gifts for the woman you who has everything or kids who have everything.
How to Make a Christmas Budget
A lot of joy and goodwill is associated with the holiday season; however, it also brings with it the challenge of managing finances meticulously to avoid slipping deep into credit card debt.
One of the effective ways to keep your finances under control during this festive time is by creating an efficient Christmas budget.
In the following sections, we will delve in detail into the simple process of creating a feasible Christmas budget that you can adhere to.
Step 1: Decide What You Want to Spend on Christmas
Determining how much to spend at Christmas depends on your individual budget and financial situation.
On a general basis, most people will overspend at Christmas in order they don’t look broke or not generous.
However, that thought process is backward if you are trying to reach your financial goals. You need to decide on how much you want to spend at Christmas time.
That is why these consumable gifts tend to be popular.
Expert Tip: Avoid surpassing your Christmas budget to prevent feeling the pinch of holiday debt later on. Stick to your allocations and plan things out in advance.
Step 2: Make a List of Christmas Gifts
Creating a list is essential for budget-friendly and stress-free Christmas shopping.
This prevents you from forgetting someone important by intuitively documenting all the people you intend to get gifts for. Also, allows for the clear allocation of your total Christmas budget, preventing overspending on some individuals and under-spending on others.
If you aim to economize, consider the 4-gift rule: something they want, something they need, something to wear, and something to read. This method provides thoughtful gifts for children while maintaining a manageable budget.
More importantly, a well-planned list significantly reduces the time spent shopping and aids in buying gifts early before the holiday rush begins.
Expert Tip: Don’t forget to consider items like stocking stuffers, last-minute gifts, or teacher’s gifts, and the cost of extra food for holiday gatherings.
Step 3: Prioritize Your Spending
Prioritizing where to spend money relative to your financial goals is crucial to achieving long-term financial stability and health. It ensures that your money is allocated effectively, giving priority to necessities and matters that directly support your objectives.
This practice can also prevent unnecessary expenditures and helps in averting serious overspending, especially during high-spending periods like the Christmas season.
Thus, you will need to prioritize your Christmas budget before the festive season. It helps prevent overspending and keeps you debt-free.
Step 4: Limit Your Christmas Spending
First, it is important to abandon the notion of a “perfect Christmas” and focus on enjoying the holiday within your budget.
You can even educate your family members about the concept of holiday budgeting and involve them in your planning process.
Consider proposing less expensive alternatives to traditional gift-giving within your extended family such as handmade or recycled gifts, or conducting a white elephant exchange with budget-friendly novelty items.
Don’t overlook smaller gifting costs that can accumulate, like Christmas stockings – instead fill them with practical, affordable items that your family needs.
Save money on wrapping supplies by using items readily available at home like newspaper or butcher paper and involve the kids in a fun, cost-saving activity by having them create homemade gift tags.
Remember, sticking to your budget doesn’t mean letting go of the Christmas spirit. It’s about celebrating responsibly and starting the New Year without financial stress.
Step 5: Ignore Sales and Keep it Simple
Sales, sales, sales – the deal is too good to pass up!
Here are key ways to overcome this common dilemma.
Resist impulsive purchases compelled by sales, and stick strictly to your shopping list.
Pause before purchasing an item not on your list, consider the necessity.
Keep emotions in check, they run our shopping decisions.
Conquer emotional spending, stay true to your budget.
Discourage additional spending once your list is fulfilled and the budget exhausted.
Remember that it’s better to focus on affordable presents rather than seeking the perfect, but expensive, gift.
Step 6: Shop for Christmas Gifts Early
Start early. Begin watching for sales on items from your Christmas gift list way before the season’s rush.
Begin monitoring for sales early, especially during holidays that precede Christmas, to stretch your budget further.
Make use of Black Friday and Cyber Monday. They provide excellent opportunities to snag deals on your gifts.
Expert Tip: Remember to stick to your list. If it isn’t on your list, pass it up. It’s challenging but keeps your budget in check.
Step 7: Reuse and Recycle Holiday Decorations
Start by taking stock of items in your house. Don’t limit yourself to traditional decorations—choose a color theme and scan your home for items that fit and can be repurposed.
Use the resources outdoors. Pine branches, pine cones, mistletoe, and holly can be fashioned into decorations from nature’s catalog.
Even consider trading decorations with friends or family. This can bring a new look to your home without the need for new purchases.
Get creative with items from dollar stores that can be combined to appear high-end and save costs.
How to buy gifts for Christmas on a budget?
Maintaining a budget doesn’t mean you can’t enjoy giving gifts this Christmas.
Use these gift guides to help you out:
Remember, the joy is in the giving, not in the cost of the gift.
Time to Create Your Holiday Budget and Make it Memorable
Regardless of your financial situation and the extent of your holiday plans, this guide will help you maintain financial stability while fully embracing the Christmas spirit.
By setting aside a prescribed sum for your holiday expenses, you’re able to enjoy the season without the stress of unexpected expenditures or financial shocks after the holiday haze has cleared.
Celebrating Christmas on a budget doesn’t mean skipping the fun or the warmth.
With just a dash of creativity and thoughtful planning, you can make the yuletide season enjoyable and meaningful without breaking the bank.
Use the festive tips provided and start planning your budget-friendly Christmas now. Remember, the true essence of Christmas isn’t in extravagant spending—it’s about love, joy, and spending quality time with those who really matter to you.
Don’t forget to access a free printable worksheet for your customized holiday budget.
Know someone else that needs this, too? Then, please share!!
Inside: Are you waiting for your Amazon refund? This guide will help you check the status of your refund, the process returns quickly and get your money back as soon as possible.
Have you ever been curious about how long Amazon refunds take?
If so, you’re not alone. Many people are confused about the refund process on Amazon, and how long it takes to receive their money back.
In this post, we’ll walk you through the steps to getting a refund from Amazon.
By the end of this post, you’ll know exactly what to expect when requesting a refund from Amazon.
how long does Amazon take to refund?
Amazon refunds usually take 3-5 business days to process.
However, this time frame can vary depending on the payment method used and the issuing bank.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What factors affect how long it takes for Amazon to process a refund?
When it comes to refunds on Amazon, it’s important to understand the different types of refunds available and how they can affect the processing time for issuing a refund. The refund amount and method can vary based on factors such as the condition of the item, how long it has been owned, and how it was purchased.
1. Payment method
When it comes to processing refunds, Amazon takes into account the payment method used at checkout, which can affect the time it takes for the refund to be processed.
Here is an ordered list of different payment methods and the specific factors that can impact the refund processing time for each method:
Amazon Account Balance: This is the automatically checked option when making a return. The return amount will be loaded to your Amazon account balance for a future purchase.
Credit Card/Debit Card: If you used a credit or debit card to make your purchase, the refund will typically be credited back to the same card. The refund processing time for credit card or debit card refunds is usually 5-7 business days. However, it’s important to note that the actual time may vary depending on your bank’s processing time.
It is essential for customers to understand the refund processing time based on their chosen payment method.
2. Type of Item Returned
When returning an item on Amazon, it is important to understand the different types of items that can be returned and how each type may affect the processing time for a refund.
Amazon offers various options for returning items, including prepaid returns and free returns. Additionally, there are specific conditions and policies for different categories of items.
For a full list of types of items and their return policy, check this help section out. By familiarizing yourself with these details, you can ensure a smoother refund process.
3. Amazon’s Processing Speed
The first step of the return process is returning the item to a predetermined return location. Once that is complete, you need Amazon to be in possession of the item before they will issue the refund.
Personally, I have found out that sometimes returns are issued within one hour of returning the item. Whereas, other times, it may take up to a week as the item is shipped to an Amazon warehouse.
This step is completely outside your control.
From there, you are waiting for the refund to be posted to your account.
Learn how long does Amazon take to ship.
4. Time of year
Another factor to consider is the holiday season. During the busy shopping period between October 1st and December 31st, Amazon typically experiences a high volume of returns.
However, due to their generous return policy, most items bought during this time can be returned until January 31st.
This extended return window allows gift recipients to have ample time to return items if needed.
During peak shopping seasons, such as Black Friday and Cyber Monday, Amazon’s customer service team may be inundated with inquiries and requests, which could potentially delay the processing of refunds.
5 steps on how to get your Amazon refund
Determining your eligibility for a refund on Amazon is a straightforward process if you follow these steps.
Understanding refund eligibility is crucial when it comes to requesting a refund on Amazon. By following a step-by-step guide, you can determine if you are eligible for a refund and proceed with the refund process confidently.
In this guide, we will outline the steps you need to take to determine your eligibility for a refund on Amazon.
Step 1: Find out if you can get a refund on Amazon
One of the first steps is to determine if you are still eligible for a return on your order.
Visit the “Your Orders” section.
You will visibly see a button for “return or replace items.”
If you do not see this, then you are likely outside of the 30-day return window.
This is important when you want to get a refund on Amazon.
Step 2: Request a refund
Requesting a refund on Amazon is an important process for customers who are unsatisfied with their purchases. There are several reasons why a customer may need to request a refund, including receiving a defective or damaged item, not receiving the item at all, or simply being dissatisfied with the product.
It is crucial to follow the correct steps in order to ensure a successful refund request.
Step-by-Step Guide:
Go to Your Orders: Log into your Amazon account and navigate to the “Your Orders” section. This can usually be found by clicking on your account profile icon and selecting “Your Orders” from the dropdown menu.
Locate the Order: In the “Your Orders” section, find the specific order for which you want to request a refund. You can scroll through the list or use the search bar to find the order more quickly.
Click on “Problem with the Order”: Once you have located the order, click on the “Problem with the Order” button next to it. This will open a new page where you can report the issue and request a refund.
Select the Problem: On the “Problem with the Order” page, you will see a list of problems to choose from. Select the problem that best describes your issue or reason for requesting a refund. This could include options such as “Item not received,” “Defective item,” or “Item damaged in transit.”
Click “Request Refund”: After selecting the problem, click on the “Request Refund” button. This will initiate the refund process and notify the seller of your request.
Provide Details: On the next page, you may be asked to provide additional details about the issue. This could include information such as tracking numbers, photos of damaged items, or a detailed explanation of the problem. Be sure to provide accurate and thorough information to support your refund request.
Select a Return Location: Next, you will need to select a return location for your item. More than likely, you will have Whole Foods, Kohl’s, and the UPS store as options.
Submit the Request: Once you have provided all the necessary information, click on the “Submit” button to submit your refund request.
Step 3: Wait for the refund
It is during this period that Amazon will process the refund and initiate the necessary steps to return the funds to your original payment method.
While waiting, it is important to be patient and understand the various factors that can affect the refund timeline.
Step 4: Check your refund status
Checking the status of your Amazon refund is an important step in ensuring a smooth refund process. By regularly checking the status, you can stay informed about the progress of your refund and take any necessary actions if there are any delays or issues.
Typically, after the return is dropped off at an approved location, you will receive a notification that your refund has been processed. Other times, it may take up to two weeks for Amazon to receive and process your return.
You can also follow up on the relevant order, by selecting “View Return/Refund Status“.
If your refund status is not showing as refunded in your account and the processing time has passed, you can contact Amazon customer service for further assistance.
Step 5: Get your refund
Following the correct above steps will help you navigate through the refund process efficiently.
You will see your refund on the selected method of payment.
Remember to keep track of your refund status and reach out to customer support if needed.
How long does Amazon take to process refunds?
Refunds on Amazon can be processed within a range of timeframes depending on various factors.
Also, your financial institution may take additional time for the refund to be posted to your account.
Refund Method
Refund Time (Once Refund Is Processed)
Credit Card
3-5 business days
Debit Card
Up to 10 business days
Amazon Gift Card
2-3 hours
Amazon Account Balance
2-4 hours
SNAP EBT card
Up to 10 business days
Bank Account
5-7 business days
Pre-paid Credit Gift Card
up to 30 days
FAQ
When customers request a refund, they have several options for how they want to be reimbursed.
The most common right now is your Amazon Account Balance.
Or you can opt to choose your original payment method.
While Amazon itself has a refund policy in place, the refund process for third-party purchases may differ slightly.
To request a refund from a third-party seller on Amazon, follow these steps:
Contact the Seller: Always begin by contacting the seller directly. They may be willing to provide a full refund without requiring a return or offer a better return policy than Amazon’s standard policy. It is recommended to reach out to the seller first before proceeding with any other steps.
Request a Refund: If you are unable to resolve the issue with the seller or they are unresponsive, you can request a refund through Amazon. Go to Your Orders and locate the order in question. Click on “Problem with the Order” and select the specific problem you are facing. Then, click on “Request Refund” to initiate the refund process.
Seller’s Refund Processing: Once you have requested a refund, the seller will need to process the return. They are required to issue refunds within two business days. The exact timeline for receiving the refund may vary depending on the seller’s processing time and the payment method used.
More than likely, you will need to return the product to get a refund.
On your return page, it will tell you whether or not to return the product.
If you have been denied a refund, you can try contacting the help section again to see if they will reconsider your request.
Time to Get Your Returns Turned in
We hope this guide has helped you understand the process of how long Amazon takes to refund.
By following the steps we’ve outlined, you can be sure to get your refund as quickly as possible.
Did your Amazon order says delivered but not received? That is the main reason many people are looking for a return.
Okay, make sure you get your returns in before the 30 day window.
If you are like my friend, you may have to rush over before the return window closes.
Personally, I like to do my returns right away, so my account can be refunded quickly.
If you have any further questions, please don’t hesitate to reach out to Amazon help.
Know someone else that needs this, too? Then, please share!!
Just in case you haven’t done enough shopping this weekend- or were staying clear of the crowds, waiting for the BEST online deals to hit- we have gathered up our absolute favorites of these epic Cyber Monday deals. Today is the day! Get everything while it’s on super sale and have it all shipped right to your door. Holiday shopping couldn’t get any sweeter!
> Freda Salvador Star Boots 30% off! > Mixed Cable Knit Sweater 50% off! > Tibetan Sherling Infinity Scarf 30% off! > Hanging Jewelry Holder 30% off! > Rose Gold Movado Watch Up to 35% off!
Some more steals we just can’t pass up:
> Sweetest Gifts Under $50 > Best Boots Under $150 > Favorite Fashion Finds Under $100 > Prettiest Jewelry for Her! > Easy Hostess Gifts Under $75 > For the Littles > Cutest Home Decor > Favorite Splurge Worthy Moment!
And some of the best savings of the day, whether they’re gifts or a sweet treat for youself:
> Nordstrom: 30% OFF everything here > Need Supply: 20% OFF sitewide, no code required > OTTE NY: 20% OFF everything > SSENSE: Up to 50% OFF right here > Emerson Fry: 20% OFF sitewide. Use the code EFMonday14 here. > West Elm: 10% off $100 or more; 15% off $250 or more; 20% off $500 or more; and 25% off $1000 or more. Use the code SUPERSALE here.
And finally, below are some of the gifts we’re definitely scooping up today! You can see all our faves RIGHT HERE.
By Peter Anderson1 Comment – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited January 21, 2019.
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Later this month we’ll be celebrating Thanksgiving, and for many people the Thanksgiving week is a time to sit back and reflect on all of the blessings that we’ve been given throughout the year. For some the week is about getting together with family and enjoying all of the good food. For others, however, Thanksgiving week is all about gearing up to go out and go shopping on Black Friday, or Cyber Monday.
I don’t usually go out on Black Friday, but I’m never one to say never when it comes to finding a deal. There have been several years where I have gone out on Black Friday, with mixed results. In years where I planned ahead, knew exactly what I wanted, and got to the store plenty early, I didn’t have any issues. In years where I just decided last minute to show up and see if I could get a deal – it didn’t work out well at all.
So today I want to go over a few Black Friday shopping tips, and look at some things you can do to prepare for the hottest shopping weekend of the year.
Don’t Just Wing It, Plan Ahead
One of the biggest mistakes I’ve made when shopping on Black Friday was to not really make a plan ahead of time, and to just wing it when it came to getting a deal on the items I was shopping for. When I showed up at the store trying to get a deal, it was a complete mess. I didn’t know where the item I was looking for was going to be, others had showed up way before I did and the store in general was much busier than I had anticipated.
Here’s a video looking at my experience and the madness that ensued at Wal-Mart that night.
[embedded content]
View the video on YouTube
So as you can see it was complete madness and mayhem. I hadn’t planned ahead, and it was obvious others had. I saw one family talking on walkie-talkies, coordinating their battle plan!
Websites To Research Your Black Friday Deals
As mentioned above it’s a good idea to plan ahead and to research all of the Black Friday sales ahead of time. Track down and find the best deals on the items that you need.
So where can you go to do all your research? There are a ton of Black Friday and Cyber Monday shopping sites you can check out, here are a few of the better ones:
This “most wanted” list from gottadeal.com – will give you an idea of what items are most wanted at each store. Using that information you can prioritize you list and make a battle plan.
Black Friday Most Wanted Deals
8 Tips For Black Friday Shopping
Black Friday shopping starts way ahead of the early morning hours on Friday following Thanksgiving. It starts by doing your homework ahead of
time, and making a battle plan for where you’re going to go, and what you’re going to get.
Make a list in the order of importance: Make a list of things you were planning to buy this year anyway, and then prioritize them in the order that you want them the most – so you can make sure to go and wait in line for those items first.
Make a budget and save up the cash: Make a spending budget for the day, and save up the cash ahead of time to pay for all your purchases. Don’t spend more than you had planned!
Make sure the stores don’t have advance Black Friday deals: Some stores will give you the Black Friday price on the item ahead of time, they start the sales earlier in the week. If you can avoid going to the store on the big day, do it! Some stores also have rewards programs and members will sometimes get a preview shopping event and get Black Friday prices earlier in the week! (for example, Sears does this)
See if the item is available online too: Some stores will have Black Friday deals on their websites as well, so if you can get the deal online and avoid the store, go for it!
Go on a reconnaissance mission: If you’re looking for an item that’s going to be extremely popular, you may even want to go to the store ahead of time and scout out the location of the item so you know where to go. Be careful, however, as some stores will place Black Friday deals throughout the store, so make sure to get that store’s Black Friday sales plan layout.
Go with a friend.. or two: If you’re looking for more than one big ticket item, you may want to go to the store with the friend so you can wait in separate lines and get both of the items you wanted.
Bring some snacks: If you plan on waiting in line for a long time Friday morning, bring along some snacks, and maybe even some coffee (but don’t go overboard or you may lose your spot on line when you go to use the restroom!)
Figure out if you need a voucher for big items: Some stores will hand out vouchers to people in line for more popular or big ticket items to avoid a scramble once the doors open. Find out if your items need a voucher at that store, and if so, make sure to be in line super early.
So start planning for your big shopping day today, and you’ll be sure to get the deals that you wanted and save on your Christmas shopping, unlike those poor slobs like me who just show up!
Cyber Monday Is Great For Deals Too!
If you don’t get the deal you wanted on Black Friday, don’t worry. Cyber Monday – the Monday after Black Friday – also has a ton of great deals, mainly at online stores. Checking the sites linked above will also give you access to a lot of the best online deals to be found then.
Also, remember that while Black Friday has a lot of hype surrounding it, it isn’t always the best time to buy certain items.
When you do finally get around to buying the things you want, make sure you’re taking advantage of all available discounts to get the best possible deal! Also, remember, you can always go the route of buying or making frugal Christmas gifts for your family as well!
Have your own Black Friday shopping tips? Tell us what they are in the comments!
Save more, spend smarter, and make your money go further
Last Friday is affectionately known as Black Friday, and and today is Cyber Monday. These colorful monikers are used to describe two of the heaviest shopping days of the year, both of which kick off the holiday shopping season. This isn’t a secret and the retailers see you coming.
The National Retail Association will release the official results of Black Friday shopping on November 28th, but we already know that the numbers are going to be massive, because they always are. In fact, the billions that will be spent from Black Friday until the after Christmas sales will likely outpace what we’ve spent at retailers in the preceding 47 weeks.
So, why am I telling you all of this? I’m telling you because many of you have, or will open, new retail store credit cards or general use credit cards during the holiday shopping season because their offers are very enticing this year. Retail card issuers will offer between 10 and 20 percent off daily purchases, and some of the general-use card issuers are offering $100-$200 cash back bonuses if you charge more than $500 over the next three months.
Because you’re likely to spend more than normal, you’re more likely to consider at least one of these offers. While many of you will permanently add the card to your wallet’s inventory, some of you will use the initial discount offer and then close the credit card after the holiday season. For those of you who’ve followed my Mint blog, you know that closing a credit card can cause problems for your credit scores. So, what gives? Is it a good idea or not to close a credit card?
The Good News
The good news about closing credit cards is that you eliminate the potential for fraudulent use, which shouldn’t be much of a concern to you since the Fair Credit Billing Act caps your liability to only $50. There’s also no way you can use that card to get yourself into excessive (or even modest) credit card debt, and that’s not a bad deal either. Although, I’d argue that getting into credit card debt is a choice, not a requirement.
Generally, it’s ok to leave your credit cards open and use them all from time to time just to prevent the issuer from closing them because of inactivity. Having unused credit limits is actually very good for your credit scores, even if you never use the card. Of course, you only have unused credit limit if your cards are open.
The Bad News, and More Good News
The bad news when closing a card is made up of one big deal and one myth. When you close a credit card you lose to access to the credit line, which can lower your credit scores. The amount it can lower your scores is going to depend on how much of a line you just lost AND how much credit card debt you carry on other credit cards. If you have no debt, then the closure might be meaningless. If you carry a lot of debt, then the closure will likely be significant.
If you’ve ever explored the downside to closing a credit card on the Internet, then you’ve inevitably seen someone talk about how you should close newer cards and leave the older ones open. This is the myth and it suggests that closing older cards can make your credit file look younger, which lowers your credit scores. Credit scoring systems take the average age of your accounts when calculating your scores.
The problem, and what makes this one a myth, is that the average age of your credit accounts considers both open and closed accounts, including credit cards of all types. According to Craig Watts, a FICO spokesperson, “When assessing length of credit history, the FICO score considers the origination date on all accounts on the credit report, open and closed.”
This is great news for consumers who want to close down unused or unwanted credit card accounts. Now they can choose which ones to close based on how expensive the rate is or how high the annual fee, and not based on whether it’ll hurt the average age of your credit report.
I’d strongly suggest when you’re choosing which cards to close that you consider closing retail store cards instead of general-use cards like Visas, MasterCards and Discovers. The reason is the limits on retail cards are generally very low, at least when they’re initially issued, compared to the limits on your general use cards. This will limit the damage you’re going to cause to your credit scores because you’re probably not closing credit cards with thousands of dollars of credit limits.
Happy shopping!
John Ulzheimer is the President of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, and a contributor for the National Foundation for Credit Counseling. He is an expert on credit reporting, credit scoring and identity theft. Formerly of FICO, Equifax and Credit.com, John is the only recognized credit expert who actually comes from the credit industry. The opinions expressed in his articles are his and not of Mint.com or Intuit. Follow John on Twitter.
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If you’re like many people today, one of your main modes of shopping is online. It’s quick, it’s convenient, and it’s sometimes even one-click easy. But, like purchasing in any other manner, you’ll want to make sure you are getting the best deals online. Why pay more than you have to?
Read on to learn some clever hacks that will help you get the best possible deals when shopping online.
Ways to Find Deals Online
1. Finding the Right Coupon Codes
Coupon codes are lurking all over the internet to help people find the best deals at their favorite retailers. For example, many online retailers will give customers a little discount for newsletter signup or for their first purchase. Others hide discount codes, but a simple Google search can yield great results for coupon hunters.
An easier way to dig up coupons to online retailers may be to search on coupon websites like RetailMeNot or Coupons.com.
Digital shoppers also can try downloading Chrome extensions like Honey, which automatically searches the internet for the best discount codes and applies them at checkout.
Recommended: 7 Budgeting Methods to Try
2. Using Free Shipping or In-Store Pickup
Online shopping tips don’t stop at coupons. Another way to save is to find free shipping options. If you don’t need an item ASAP, free shipping is typically an option at checkout.
Many online retailers also offer free shipping with a minimum order amount. To find free shipping deals and codes, check out websites like FreeShipping.com.
Another option may be to order an item online and then pick it up at the store for free. If it’s close enough to grab in person, it may be worth it to avoid shipping costs altogether.
💡 Quick Tip: Tired of paying pointless bank fees? When you open a bank account online you often avoid excess charges.
3. Giving a Price Watcher a Go
Consumers who aren’t in a rush to purchase an item may be able to take advantage of price tracking tools. Price tracking tools help shoppers stay informed about price drops and sales so they can click “buy” at just the right time. These might even be able to help you be more patient if you are an impulsive shopper. Knowing that a better price may be in the offing could help you slow down.
Apps like Honey have tools like Droplist that allow consumers to save items for later and be informed when an item on the list has a price drop.
Other apps like CamelCamelCamel track prices on Amazon, and PriceBlink will find even more deals across the Web, too. It works by showing how much an item costs at several online stores so shoppers can pick the best one.
Recommended: How Many Bank Accounts Should I Have?
4. Trying Online Price Matching
Many larger retailers like Walmart and Target participate in price matching programs, which means if you find a price at one retailer you may be able to get it at another.
This used to mean bringing in a printed coupon or proof that the product was on sale for a lower price at a different retailer, but now, it can all be done online. All a shopper needs to do is reach out to customer service, which may be able to help out.
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5. Checking Reviews
To get the best deal when shopping online, you’ll want to be sure you are getting the best product. And one way to do that is to check online reviews. Customers all over the internet leave reviews on products they’ve purchased, alerting others to potential issues or potential great buys.
On websites like Amazon, search for “verified purchase” to know that the review is legit. While online reviews should be taken with a grain of salt, they are one more tool to add to your decision-making arsenal for online shopping.
Before purchasing a product, is it really something you want or need, or will bring joy? If so, check reviews to make sure it’s the perfect fit before clicking “buy.”
💡 Quick Tip: If you’re creating a budget, try the 50/30/20 budget rule. Allocate 50% of your after-tax income to the “needs” of life, like living expenses and debt. Spend 30% on wants, and then save the remaining 20% towards saving for your long-term goals.
6. Waiting for Bigger Sales
Throughout the year, larger retailers will likely host online shopping sales. These sales are known to occur around the holidays, specifically on Black Friday, the day after Thanksgiving, and Cyber Monday, the following Monday, a day that’s packed with online deals.
Other major sales usually occur around holidays like Presidents Day, Memorial Day, and Labor Day, as well as midsummer. During this time, you may be able to score major discounts, so if you can wait for a purchase, try to hold off until then. Knowing that deep discounts are coming could help you avoid shopping out of boredom. It gives you an incentive to wait.
One more “holiday” to keep an eye out for is Amazon Prime Day. During the sale, retailers across the website offer steep discounts on products.
However, to get in on the deal, you must be an Amazon Prime member, which comes with a subscription. But Amazon Prime members get free shipping on most products, which can add up in the long run.
7. Following Favorite Brands on Social Media
One more way to potentially find the best deals online is to follow brands and retailers on social media. Brands love to give their loyal customers something special, so they may share insider discounts and offers on their social media pages and newsletters before anywhere else.
Give your favorite brands a follow on Twitter, Instagram, or Facebook to stay aware of when sales may be happening, and maybe get inspired about new things to buy along the way, too. Just be sure when you are purchasing that you are on the verified account of the brand. There are some scams out there that you’ll want to avoid.
💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.
8. Earning Cash Back for Purchases
If you’re not interested in having to do all this legwork to get a good deal while shopping online, there is another option: Use a credit card that gives you cash back. You may even be able to bundle and increase the credit card reward if you shop online at specific retailers at certain periods of time.
The Takeaway
Shopping online is already, as you undoubtedly know, quick and easy. But there are ways to make it even more affordable, by tracking prices, using coupon sites, and knowing when to purchase to get the lowest possible price. By deploying these and other hacks, you can get the goods you want at the most budget-friendly price.
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SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 1.20% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 4/25/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances. Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners. SOBK0423062
The holidays are time for family. Here are some ideas from our friends at Quotacy on how to make the most of this holiday season with your loved ones.
Save more, spend smarter, and make your money go further
The holiday season is a very hectic time, and if you’re not careful, it can easily sneak up on you. If you’re like me, you’ve entered November without much money set aside for gifts or celebrations and you’re starting to sweat about your budget.
Scrambling for cash during the holidays can feel like treading water, but there are lots of opportunities to save money and cut costs if you know where to look.
Make a budget and stick to it
Setting limits on how much you’re willing to spend for each person on your list will help keep you focused on getting the most out of your holiday budget.
Speaking from experience, my family typically sets limits on how much you’re allowed to spend on one another – $50 max for your immediate family, $20 max for any extended family.
In practice, those limits tend to become more like guidelines, but they can help you set a baseline budget to plan for during the holiday months.
Start shopping ASAP
The longer you’re on the hunt for deals, the more likely you are to stumble across them. If you can get started before December actually begins, you can scoop up a few amazing deals during Black Friday and Cyber Monday.
Keeping your eyes peeled early on in the holiday season can give you more time to consider exactly what you want to get for each person. Being alert and keeping an eye on those items will help you pounce on flash deals as they come up.
Automate your savings
If you’ve got a savings account that offers automatic deposits, cranking up the rate at which money goes in can help you grow a holiday budget without even thinking about it.
When I need to save money in the short term, I tend to pump up my weekly contributions to my savings account. This helps me lock my money away until I’m sure I want to spend it.
Cancel a few subscriptions
Even though cold, snowy days are perfect for curling up on the couch and bingeing a show on Netflix or Hulu, taking a month-long break from a few of your subscription services can help give you a bit more breathing room for gifts and events.
Pick one service you absolutely can’t live without to keep you entertained, and use the subscription fees for the rest of them to spruce up your holiday party with a few extra treats. Then, when you come back to them in January, you’ll have a whole new set of shows to power through.
Cut down on trips out
This is an evergreen savings suggestion, but during the holidays, opting to stay in could help you save more than just the price of dinner.
If you’re in an area that gets snow, the increased traffic will make each trip out burn through more fuel. Additionally, bad weather increases your odds of being involved in an accident, so staying in can often mean staying safe.
Check your pockets
If you’re like me, you’ve probably forgotten about some of the things in your wallet. However, taking the time to dig past your go-to cards can reveal some hidden treasures.
First off: Gift cards. Got 5 bucks left at Starbucks? Surprise a family member with a bag of nice coffee. $3 left over at Target? That’s a couple of candy bars to fill a stocking.
If you’ve got rewards points or cash back built up on your cards, the holidays can be a good time to spend them. Performing a self-audit on your wallet can help you discover money that you didn’t know you had.
Combine your orders
Do you ever notice how stores start promoting big purchase sales around the holidays? “Spend over $300 and get 15% off!” This helps them incentivize shoppers to spend more. You can take advantage of this by teaming up with a friend to get both of your holiday shopping done at once.
In addition to saving more on a bulk order, you’ll be able to take full advantage of BOGO deals without having to find somewhere to put the second item.
Who knows, you might catch them eyeing something they want, and be able to take another trip back and cross them off your list.
Look everywhere for coupons and deals
Everyone knows about online coupons these days, but there are many more ways to save if you know where to look.
Digging through your junk mail can be a good way to scoop up deals from local stores. Local businesses will also offer discounts via local newspapers and magazines as well, so popping by a magazine rack can help you track down deals in your area.
Many crafters, artists, and other small creators who own Etsy stores or eBay accounts are also looking to make a bit of last-minute money to spend on their families.
Established creators often put their excess stock on sale in the weeks before the end of the year, and many artists take extra commissions to help them pay for their own celebrations.
Buy (or make) a few cheap “quickie” gifts
Going out and tracking down trinkets for everyone in your office can be time consuming, and it’ll drain your holiday savings, too.
Instead, taking one trip and buying several of the same inexpensive gift at once can help you be sure you aren’t empty handed when a surprise gift-giver catches you off-guard.
For example, you can wrap up cocoa packets, candy canes, and mini marshmallows, then give them out as instant cocoa sets. For bonus points, head to a thrift store and buy a few mugs to include as well.
Turn your holiday parties into pot lucks
Another perennial favorite – pot lucks! If you’re hosting a dinner party, asking your guests to help out with dishes can add variety to the meal, as well as saving you money.
Have your guests bring hot food in crock pots, or let them show up early with food that’s ready to cook. Appetizers and finger food work great for this, and a menu made out of those options often ends up being more fun than a sit-down dinner.
Change up your gift-giving traditions
Instead of spreading yourself thin to get your entire family or office gifts, organizing a secret Santa pool can help you focus on finding something meaningful for one person in particular.
If organizing a secret Santa exchange is too complicated, a white elephant party is a fun way to recycle old gifts you’ve never gotten around to using. Who knows, your secondhand waffle iron might be exactly what someone wants!
Eric Lindholm moved from sales to communications at Quotacy. His writing is informed by his experience guiding hundreds of people through their own life insurance buying journey. Eric lives in Minneapolis, where his coworkers are trying to convince him to start his own podcast, do stand-up, or take his humor into the spotlight. Connect with him on LinkedIn.
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