This will be the first holiday season with the pandemic mostly in our rearview mirror.

This will be the first holiday season with the pandemic mostly in our rearview mirror. While we can never go back to the way things were, we’re a lot closer than we’ve been in years. So, that’s worth celebrating!

But don’t let those celebrations result in a financial hangover when January arrives! Let’s talk about saving money during the holidays without cutting back on our holiday cheer.

Shop early!
It’s always a good idea to do your shopping early in the season, so pressure and crowds don’t cause you to make decisions you’ll regret. This year, experts are urging shoppers to hit stores early to take advantage of early season sales. Many big-box stores are struggling with a supply surplus thanks to an inflation-triggered decline in demand. This will likely lead to sales. You can take advantage of this surplus by shopping these sales and saving on your holiday purchases.

Set a budget.
Sit down before doing your shopping to build a reasonable budget for your holiday shopping. Factor in current prices when working out your budget. Of course, this is only half the work – you’ll need to stick to that budget for it to be worth anything. Make this easier by allocating a specific amount for every gift, shopping with cash and/or reviewing your budget frequently as you do your holiday shopping.

Shop with a list.
Instead of hitting the stores and picking up whatever strikes your fancy, create a list of every gift you plan to buy for friends and family. You can browse online stores for inspiration, but resolve not to start shopping until you have a complete list. You’ll be far more likely to stay within budget when your purchases are pre-planned.

Think outside the (gift) box.
If ever there was a holiday season to get creative with your gifting, this is it. Retail inventories are full of products that were backed up during the post-pandemic supply-chain disaster. Think furniture, home decor and more. While much of this may not make for typical holiday gifts, there’s no real reason you can’t delight a loved one with a new office chair, exercise bike or coffee organizing station.

Holiday shopping may be a race against inflation this year, but with a little pre-planning, you can complete your shopping with your budget intact. Use the money-saving tips outlined here to get started.

Watch a recording of our recent webinar, 2022 Holiday Survival Guide. In this webinar, Certified Financial Counselor Emmanuel Obe discusses:

• How to find the perfect gifts at the perfect price.
• Avoiding common — and costly — holiday scams.
• Using credit cards to save money instead of spending it.