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8 Ways To Spend Less On Holiday Gifts

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If you haven’t already purchased something on your gift list this year, you’re in the minority. Fifty-seven percent of people celebrating the holidays had started shopping by early November, according to a recent survey by the National Retail Federation.

“Thanksgiving weekend shopping has evolved tremendously over the past few years and can no longer be seen as the ‘start’ of the holiday season,” said NRF president and CEO Matthew Shay in the press release. “Consumers today are looking for great prices and value-add promotions earlier than ever before.”

Plus, more than 121 million holiday shoppers plan to shop online on Cyber Monday, according to the NRF.

In other words, get cracking. And there are more ways than ever to shave a few dollars from your holiday shopping budget, according to spending experts:

Compare prices. “Most major retailers and online stores will price match competitors, so it’s important to compare prices, whether you’re shopping online or in-store,” says consumer savings expert Andrea Woroch. “Use apps like ShopSavvy to scan a barcode and find the lowest prices around town.” When you’re online, run a Google search or use TheFind.com or PriceGrabber.com to compare prices.

Use cash-back sites and tools. “Ebates is a popular online shopping portal that enables you to earn cash back during your normal shopping activities,” says Kendal Perez, savings expert for CouponSherpa.com. “This is a great way to ‘earn’ money on items you already plan to purchase.” Also, Walmart’s Savings Catcher tool gives users cash back on items priced lower at competitors, Perez says.

Sign up for email offers. “Most retailers give you a coupon code just for signing up, so this is a great way to save more during a big sale event,” Woroch says. “For instance, GAP sent me a coupon code for 25% off when I signed up for their emails.”

Don’t self-gift. Sure, the holidays can be stressful, and it’s tempting to splurge a little on yourself. Try to resist . “National Retail Federation statistics report the average amount spent on self-gifting is $131.59,” says April Lewis-Parks, director of education and communication for ConsolidatedCredit.org. “During the most expensive shopping season of the year, you don’t need to be doing anything extra to increase your debt.”

Buy gift cards at a discount. “Buy gift cards individually or in bulk from a discount store online like Cardpool,” says Jon Lal, shopping expert and founder and CEO of BeFrugal.com. You can either buy gift cards to use as actual gifts, or buy cards to use at retailers where you know you’ll do your holiday shopping. Either way, you save.

Don’t be afraid to ask. Already searched RetailMeNot.com and can’t find a coupon code for the site you’re shopping? Never fear. “The majority of big online retailers employ live chat operators who are standing by to help you with your Christmas shopping,” says Kyle James, owner and founder of Rather-Be-Shopping.com. “Simply start a live chat session and politely ask the operator if they have a coupon to help you out. Ask for free shipping or 10 percent or 15 percent off. You’ll be amazed how many operators have a list of coupon codes on their desk.”

Abandon ship. When buying gifts online, try filling your virtual shopping cart, and the log out without buying anything. “By doing so, in many cases, it will trigger an automated coupon sent to your inbox pleading for you to come back and complete your purchase with the coupon,” James says. “The key is to register with the site so they have your email address and log out before you enter your credit card information.”

Stick to a budget. Decide at the beginning of the holiday season how much you have to spend, and stick to it. Use a spreadsheet or other tool to divvy up your spending among gift recipients, and don’t forget to allow for shipping and wrapping costs. “It’s been my experience over the years, the clients who get into credit card trouble simply purchase holiday gifts with the mantra, ‘Buy now, pay later,’” says Mark Carruthers, a financial planner in Congers, NY. “As we all know, this generally doesn’t work out too well.”

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