The holiday season is upon us and for many people, this means spending more money than any other time of the year. Yet, there are a few ways that you can make your dollar stretch even further during this time and prepare for future holiday seasons.
- Take advantage of “end of the season” clearance items. Buy summer and fall clothes and outdoor items on clearance. Just be sure that you are shopping around and buying quality items that will stay in style and last for a few years to come. Also, ask for additional discounts for items with blemishes or for floor models.
- Buy Halloween decorations and costumes after the holiday and store the items for the next year. This is a great way to save a significant amount of money on costly costumes especially for young children. Remember to account for your child’s growth and buy a size or two larger that will fit him/her in the next year. Buying Christmas decorations and wrapping paper after December 25 and storing them for next year is also a great way to save money.
- Make the most of the season’s biggest sales. Create a list of gifts or items that you want to buy this season and then research what stores sell the products, what their deals are, and compare to find the best price.
- Avoid impulse shopping. With all the great deals and lowered prices that are heavily advertised, it can be easy to be tempted to impulse buy and purchase items that you don’t need (and may regret buying later on). Stick to your list of needed items and gifts. It is also helpful to keep a close eye on your budget during this time so that you know exactly how much money you have to spend.
- Finally, stay organized. If you buy clothes to use next summer or decorations to use the following year, be sure to store them somewhere so you will remember you have them! Ignore the temptation to stash them in a closet or the garage with the intention to properly store them at a later date (you might forget you have them and buy them all over again the next year.)
-Kathryn M.
Sage Personal Finance 