Tis the season! Stores have hauled out their holiday themed merchandise earlier than ever this year with the obvious goal of bulking up holiday income. Do as the retailers have done and plan ahead; it will save you big bucks in the end.
1. Make a list of gift-getters
This simple trick will save you money. Once you see all the names in one place, you can always pare down the list if it gets out of hand – maybe some people only need cards. A list will also help you remember important people, such as your administrative assistant, who deserve gifts and are often forgotten until the last minute. Last minute gifts are never cheap – or if they are, they look it. Writing out a list of names gives you time to contemplate exactly what each person means, and how you can best express your adoration. Aw.
2. Cook
If you’re blessed with culinary skills this can be perfect gifts for friends with babies, busy schedules or an oven used to store shoes. Think about meals that can be frozen and reheated, and desserts like cookies, pies and other pastries.
3. Buy wine in bulk (but not in boxes)
This one requires a bit of self control at home, but if you know you’ll be attending multiple parties this holiday season, a case of wine at the ready can be a real life and wallet saver. Buying by the case gives you at least a 10% discount on each bottle, and not running to the store at the last minute to grab something decent will save you even more. With a case at home you can also take time to dress up the bottle. Fancy wine bags are nice, but ribbons, bows and other homemade adornments turn boring into a hit.
4. Pimp out your skills
Can you fix a leaky sink? Are you brave enough to clean a friend’s apartment? Think about gifts that are technically “free” but provide a much needed service for the loved ones on your list. Think outside the box, and try to remember if you noticed something needing attention last time you were at your friend and/or relative’s home.
5. Maximize your online purchases
Most online purchases can be tax free – a savings of up to 11% in some cases. On many sites, including Amazon, if you buy enough items the shipping is free, so aggregate those small purchases. If you know you’ll be buying online try to do it in one fell swoop, and from one retailer, when possible.
6. Shop early, not often
November is a great month for sales. Stores are looking to unload their products, especially electronics, before newer models come in closer to the holidays. If you’re planning a big ticket gift such as a TV or laptop it can be to your benefit to shop in November. Other items often found on sale in November: bicycles, outdoor furniture and BBQs, video games and consoles.
As is the mantra in maximizing your finances: plan ahead, it will pay off in the long run.
