For some countries like the Philippines, Christmas begins at the start of the “ber” months: SeptemBER, OctoBER, NovemBER, and finally DecemBER. As the countdown begins, more and more people are planning and shopping for Christmas.
As a shopper, you will surely be tempted with a lot of bargain items displayed in various retail stores. Without much discipline on spending habits, you will surely be left with your pocket with loads of debt in your credit card most especially that some stores now have their Shopify terminals.
To control your spending habits, here are some of the ways on how to save money on Christmas shopping.
Pay yourself first
With your 13th month scheduled to be on your paycheck by late November or early December, chances are that you will be tempted to splurge it all on your Christmas shopping. Worst is that you will overspend that you will charge the excess on your credit card.
Before spending for your Christmas shopping, set aside a portion of your 13th month pay to savings first. You can save at least 20%. This is your chance to bulk up your savings or investments since this will be a huge windfall to you.
Plan your Christmas budget
Aside from setting aside from your 13th month pay for your Christmas shopping budget, another way to come up with your budget is to set aside a portion of your salary every month to come up with a Christmas fund. Make a budget and plan how much you need to save every month to come up with that amount.
Set up a buffer fund as an extra budget for unexpected gifts you need to buy. You could get invited to a Christmas get-together where you are required to bring a gift for an exchange gift.
Make a list
No matter how small the gift may be, write down everyone you plan to buy a gift for. Include the gift items you plan to give to each person, along with the maximum amount you’re willing to spend depending on your budget. Put that money in separate envelopes marked with the recipients’ names. In this way, you can surely manage your Christmas shopping within your budget.
Start your Christmas shopping early. Don’t wait until November or December to start buying your holiday gifts. Avoid impulse buying. Keep your eyes open all year round for items friends and family would like. Take advantage of year round sales with huge mark down prices. It’s often when you’re not looking for something specific that you stumble across that perfect gift.
Once December hits, you will be glad that you have already crossed off your checklist. Just make sure to keep all your advance gifts in a secure and safe place.
Do your research
The market is now flooded nowadays with a lot of brands and models for each specific item. If you are not sure what brand or model you want to give as a gift, search the web for online reviews like Amazon.
Check across brands and models and compare their prices for each store. If you’re buying it online, make sure to check for free delivery to save on shipping costs. Choose the one which suits your allotted budget.
Christmas shopping need not be a thorough drain for your wallet if you follow these tips. Enjoy your Christmas shopping and don’t forget to eat first before you go to stores to avoid impulse buying.