The holiday season doesn’t have to drain your wallet. Here’s how you can save money now and throughout the year.
The end-of-year festivities often feel like a whirlwind of spending. Between decorations, gifts, and celebratory meals, it’s easy to overspend. This year may be especially challenging, with credit card debt at an all-time high and rising prices everywhere.
To keep your finances in check, try these money-saving tips. Starting smart habits today can help you avoid a post-holiday financial slump and set you up for success in the new year.
Here are 14 effective ways to save money while sticking to your budget.
Take Advantage of Seasonal Sales
Retailers know we’re eager to shop during the holidays, so they offer tempting deals to draw us in. Black Friday and Cyber Week are great opportunities, but planning ahead is key. Other sale days, like Free Shipping Day (Dec. 14) and Super Saturday (Dec. 21), can also help you save.
Pro Tip: Make a list of items you want, noting specific features. Be cautious, as discounted models might not include everything you’re looking for.
Don’t Be Fooled by Big Discounts
A flashy “50% off” sign doesn’t always mean a good deal. Compare prices online to ensure it’s truly a bargain. Use tools like Google Shopping, Amazon, Walmart, and eBay to find the best price. Some retailers even match competitor prices.
Pro Tip: Use visual search tools on platforms like Google or Amazon to quickly find and compare products online.
Follow Retailers for Deals
Download store apps, subscribe to email alerts, and follow brands on social media for exclusive savings. Retail loyalty programs, like Kohl’s Cash and Macy’s Star Money, can also offer valuable discounts.
Pro Tip: Create a separate email account to keep promotional messages organized and protect your primary inbox from spam.
Be Wary of Store Credit Cards
Store credit cards may offer enticing perks like discounts or rewards, but their high interest rates can cost you more in the long run. For instance, Macy’s store card has an APR of 34.49%, while Nordstrom’s card tops out at 31.15%.
Pro Tip: Only consider a store credit card if you shop there frequently and can pay off your balance in full each month.
Join Membership Programs
Memberships like Amazon Prime, Walmart+, and Target Circle can save you money on delivery fees and offer additional perks like free streaming.
Pro Tip: Evaluate the annual fee against your shopping habits to see if the benefits outweigh the cost.
Watch Out for Fake Reviews
Fake product reviews are on the rise, making it harder to trust online ratings. Use tools like Fakespot or ReviewMeta to identify reliable feedback.
Pro Tip: Check trusted sources like Consumer Reports or Wirecutter for unbiased product reviews.
Track Prices for the Best Deals
Use price trackers like CamelCamelCamel or Honey to monitor price drops and find the right time to buy. Some tools even let you set alerts for when prices hit your target.
Pro Tip: After purchasing, continue tracking prices. Some stores may refund the difference if the price drops shortly after you buy.
Understand Return Policies
Holiday return policies often have extended deadlines, but some retailers add fees or shorten return windows. Review the fine print carefully before making a purchase.
Pro Tip: Pay extra attention when buying from third-party sellers, as their return policies can be stricter.
Shop Pre-Owned
Buying refurbished or secondhand items is an excellent way to save money. Look for certified refurbished products from reputable retailers like Amazon, Best Buy, and Apple.
Pro Tip: For used books, clothing, or accessories, explore platforms like ThriftBooks, Poshmark, or ThredUp.
Be Cautious with Social Media Ads
Social media ads can sometimes be scams or misleading. Verify the legitimacy of the seller before making a purchase.
Pro Tip: Always use a credit card for online purchases to protect yourself and dispute charges if necessary.
Automate Savings with Apps
Extensions like Honey, Rakuten, and RetailMeNot apply coupons and cash back during checkout. For groceries, apps like Ibotta and Fetch can help you save even more.
Pro Tip: Check these apps for promo codes before shopping online or in stores.
Avoid “Buy Now, Pay Later” Pitfalls
“Buy now, pay later” services might seem convenient but can lead to overspending and hurt your credit if payments are missed.
Pro Tip: If you use these services, set up automatic payments to avoid late fees.
Find Hidden Outlet Deals
Many retailers have outlet sections online offering discounts on overstock or past-season items. These deals may not appear in standard search results.
Pro Tip: Search for your favorite brands with the word “outlet” to find these hidden gems.
Skip Unnecessary Warranties
Retailers often push extended warranties, but many products already include manufacturer coverage. Some credit cards also provide free extended warranties.
Pro Tip: Instead of buying a warranty, set aside money for unexpected repairs.
By following these practical tips, you can enjoy the holiday season without breaking the bank—and carry these habits into the new year for ongoing savings.
