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Set a spending limit -

It’s perhaps an obvious first step, but it’s one that people often forget: set a budget for your holiday shopping. Work out how much you can afford to spend in total.

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Set a spending limit -

If you start planning ahead early enough, you can start putting money aside for your holiday shopping early in the year. If you start saving in the summer, you should be in pretty good shape by December.

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Factor in other expenses -

In order to get a full picture of your spending, it’s important to factor in holiday expenses other than gifts. This is another often-forgotten factor.

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Factor in other expenses -

Think carefully about whether you’ll be spending money on sending cards, decorating your house, or traveling to visit friends and family.

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Make a list -

Make a list of all the friends and family members that you want to buy gifts for. Think of one or two gift ideas for each person, and stick to the list when you head out shopping.

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Make a list -

You may also want to include in your list those individuals who normally receive a holiday tip, such as the babysitter or the mail carrier.

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Do your research -

Before you head out shopping, have a look online to see how much you are likely to spend on each gift on your list.

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Do your research -

This is an important step because it enables you to set an itemized spending limit by person and by gift, which in turn will help you stick to your overall budget.

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Don't forget shipping -

If you are going to buy your gifts online, don’t forget to factor in shipping costs. These can be pretty hefty, especially if you’ve left your shopping late.

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Don't forget shipping -

To see how much the shipping will be for a particular item, add the item to your cart and go to checkout but don’t finalize the purchase.

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Compare your list with your budget -

Once you’ve worked out how much you’ll be spending on each person, add up those costs and compare the total to the budget you set at the beginning of the exercise.

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Compare your list with your budget -

If you find that your costs are higher than your limit, you’ll need to cut costs, either by buying less expensive items or spending less in other areas of your life.

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Stick to your list -

Once you’ve got a list of items that will keep you within your budget, it’s time to head out shopping! Now comes the real challenge: sticking to the list.

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Stick to your list -

It can be very tempting, particularly in physical stores, to get distracted by holiday displays. Stay as focused as you can; if you find yourself getting distracted, try leaving the store for a few minutes.

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Pay in cash -

An age-old piece of budgeting advice is to use cash wherever you possibly can. Buying things on card can sometimes be deceptive to the extent it feels like you’re not spending money at all.

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Pay in cash -

If you really struggle with overspending, try going to the ATM and withdrawing just enough cash to purchase each gift before heading into the store.

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Shop alone -

While it can be fun to go shopping with family and friends, you might also feel an unnecessary pressure to spend money at times.

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Shop alone -

If you go shopping alone, it’ll be easier to stick to your list, and you can take all the time and breaks that you need.

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Shop early -

It is also a good idea to get your holiday shopping done early, since a mad, last-minute rush often leads to stress or impulse purchases.

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Shop early -

Getting your shopping done early also has the added benefit of enabling you to catch good deals before the holiday season starts.

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Take advantage of sales -

The weekend after Thanksgiving is famous for great bargains, and thanks to the internet, you can take advantage of Black Friday from the comfort of your own home.

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Take advantage of sales -

Try to have your list written before Black Friday weekend, so that when the time rolls round you can hit those websites and secure some gifts at a discounted price.

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Look for coupons -

It is also worth having a quick Google to see whether you can find any discount codes for online retailers that you wish to buy from.

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Look for coupons -

If you’re super organized, you can even save coupons that you receive throughout the year, so that when the holidays roll around you can rifle through and see if there’s anything you can use.

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Use credit card rewards -

Bear in mind that some retailers, both in-store and online, accept credit card rewards and points as a means of purchasing goods.

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Use credit card rewards -

Have a look on your credit card website to see where you might be able to spend your points. You can also use cards that give you cashback on your purchases.

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Use old gift cards -

And last but not least, have a look for any old gift cards that you may be able to use to purchase gifts.

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Use old gift cards - Go through your wallet and any other card stacks that you might have; more often than not you’ll find something that hasn’t expired and you’re able to use. 

Sources: (WikiHow)

See also: Christmas gift ideas for senior citizens

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