Maybe the Grinch isn’t real, but as inflation continues unabated, it could feel like your Christmas has been stolen.
Happily, there are still ways to save some money.
First, it’s smart to put your holiday gift list together earlier rather than later. This way, you’ll have more time to watch for great deals and you won’t make last-minute purchases in a panic. You can also use tools like CamelCamelCamel.com that will track price drops and alert you if items on your list go on sale. You can also use services like Rakuten that provide rewards and cash back when you make purchases.
And, who to buy gifts for? With inflation at historic levels, you can’t really blame folks for buying gifts only for immediate family members. Fact is, pretty much everyone is being forced to tighten their belts right now. Inevitably, there are people you feel obligated to purchase for. Try buying small boxes of candy. Or bake holiday cookies or cakes to give away. A half-dozen cookies in a bright wrapper can be very welcome and festive.
Rather than super-sizing your Christmas meal this year, make only what you can eat at one meal (and maybe enough for sandwiches the next day). It’s estimated that roughly 40 percent of food ends up in the trash — and that’s like burning cash. Rather than picking up a 20-pound turkey for, say, a six-person Christmas party, downsize to 13 pounds. Instead of pouring eggnog into a punch bowl, make a small pitcher for the fridge. There will be less waste.
Also, folks typically want brand-new products, but you can often save a ton of cash buying refurbished goods. It’s not uncommon to find refurbished gadgets on eBay and elsewhere that are selling at a steep discount and come with a warranty. And if you’re buying any gifts for yourself, consider waiting until the New Year as many retailers will hold generous after-holiday sales to clear out stock and holiday returns.