5 smart ways to save on gifts this holiday season

Before you go, we thought you'd like these...
Before you go close icon

Christmas is around the corner, but luckily, we still have over a month to plan this year's gift list and try to save money by avoiding last-minute shopping. Do you know how to save money on Christmas gifts?

Below I've listed some ideas that might help you spend less on your gifts this year and even make Christmas shopping an enjoyable (and dare I say it, stress-free) experience.

How to Save Money on Christmas Gifts

Actually Write a List

Although obvious, most of the time we just go shopping and completely forget to list the people and the gifts we think they might like. But, making a list is not all: use it as a springboard to determine the Christmas budget.

Since Christmas shopping is quite often done against the clock, this usually implies choosing something in the rush and overspending. Budgeting is definitely the way forward here and whats more there are great tools that can help you do it quickly and simply.

Take Advantage of November Sales

I like Cyber Monday. After a long weekend of waiting in lines packed with clients struggling to get what's left in Black Friday comes Cyber Monday, which means that you can avoid the former and get what you need in just a couple of clicks.

Keep in mind that you should be ready to start shopping online early that morning before products run off and make sure that what you are getting will be delivered on time! So short of winning your typical Christmas promo, Cyber Monday will be your day to get gifts.

Be Creative

DIY is a great option to save money on gifts while adding a personal touch to make that special someone feel even more loved. This is the rockstar choice of Christmas presents for the people in your life who apparently have everything and especially good for those who are not really sure what they want. And, who says you need to be a master craftsman?

Instead of getting your partner a bow-wrapped box with something pricey inside, you can promise a trip to their favorite place or cook a three-course meal with dishes you know they'll love. Creativity will save you money and make your gifts far more memorable.

Discount Time

This is a good moment to engage all the store cards, memberships, vouchers and discounts that have been racking up points and unused throughout the year. Or if you don't have any, sign up to those that have a good rating. These are all resources that will come into play when saving serious money on those pricier gifts.

Compare Prices

You might have used a resource to price check in the past but if you haven't, this is a great opportunity to give one a shot. There are many of these apps available, and price comparison tools help you figure out what's the best deal so that you don't overspend. Be prepared to be surprised at how different prices can vary from store to store.

If you follow these guidelines along with other resourceful ideas, you will undoubtedly spend less this Christmas and shop in an organized way ahead of time. And who knows? You might find yourself enjoying this holiday much more than before.

Do you know how to save money on Christmas gifts? Are there any ideas that I forgot that might help you spend less on your gifts this year?

Be sure to follow Money Q & A on Twitter @MoneyQandA

The post 5 Smart Ways to Save on Gifts This Christmas appeared first on Money Q&A.

RELATED: Tips to teach your kids to save money

9 PHOTOS
Tips to teach your kids to save money
See Gallery
Tips to teach your kids to save money

Play money-centered board games or games on apps, like Monopoly or Money Race.
It's an interactive and fun way for your kids to learn about basic financial practices without feeling like they're being lectured.

Photo credit: Shutterstock

Give them an allotted amount of cash to spend on lunch each week.
Your child will learn how to budget accordingly throughout the week, figuring out how to balance spending money on food some days vs bringing their own on other days (something that can be directly translated into the adult workplace).

Photo credit: Getty

Have them write down or tell you their absolute dream toy.
Then, show them that it's possible to have that toy if they save x enough money for x amount of weeks.

Photo credit: Getty

Give them an allowance.
 

Photo credit: Alamy

Stick to a set time and date each month for giving your child their allowance.
Practicing giving your children their allowance every other week or on certain dates of each month will help them prepare for set paydays in the working world--it will teach them to budget out and how to know when to save up in anticipation.

Photo credit: Getty

Match your child's savings each month.
This will imitate a 401K and show your child ways in which saving can (literally) pay off.

Photo credit: Shutterstock
 

Have your kid organize their funds in to different jars to represent different accounts.
Examples could be "Saving", "Spending", "Charity", "Emergency", "College".

Photo credit: Getty

Take your kids grocery shopping and explain certain choices you make with your purchases to them.
Your children will benefit from knowing what's best to purchase name brand vs. generic, why some snacks are better to buy in bulk, etc.

Photo credit: Getty
 

of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION

Read Full Story

From Our Partners