3 Ways to Save Money and Simplify Your Holiday Shopping
Quick tips on bargain hunting, budgeting, and dodging holiday scams this holiday season.
75% of U.S. shoppers said they will shop more online vs. in-store for the holidays this season
Easy ways to save while you shop include leveraging apps to find discounts and promo codes, price matching
This year, high discount sales events like Amazon Prime Day, Walmart’s Big Save event, Target Deal Days, and other sales from stores like Best Buy, kicked off the holiday shopping season earlier than ever before. You’ve likely already started your holiday shopping for presents, and many experts speculate that due to this year’s pandemic driving more consumers online to buy what they need, traditional shopping holidays like Black Friday and Cyber Monday are likely to be much quieter than years past.
In fact, more than half of U.S. shoppers say they are less inclined to shop Black Friday sales this year, according to new research on pandemic holiday shopping. Likewise, almost 75% of U.S. shoppers said they will shop more online vs. in-store for the holidays this season than they did in previous seasons.
First, know when you’re going to shop--sites like Slickdeals offer guides to the best Black Friday sales to come in advance so you can map out your purchasing plan ahead of time. Many stores are offering rolling sales throughout November and December this year and often offer to keep you informed about plans if you sign up for their email updates (don’t worry, you can always unsubscribe later).
Next, take advantage of rewards and earned credits. For example, bargain sites like Kohl’s and Old Navy, and even high end online consignment shops like TheRealReal often feature promotions to earn “cash” credits intended to incentivize more spending, but if you have your items picked out ahead of time you can easily spread out how you acquire only the purchases you need to save money over time.
You can also leverage coupon codes offered by sites like RetailMeNot, and even get cash back on what you’re buying already from sites like Ebates to ultimately skim more off of what you pay.
Finally, don’t miss extra money back on recent purchases that might actually drop further in price from retailers that offer price matching policies. The Edison Mail app’s Price Alert feature helps monitor refund opportunities for you based on what you buy to help you get even more bang for your buck.
Make a (Shopping) List and Check It Twice
If you aren’t already doing so, a good way to stay on budget is to list out the recipients you’re shopping for, which items you plan to buy and how much they will cost as you shop. Once you have a list (or if ambitious, a spreadsheet) compiled, you can easily calculate how much you’re spending on each person versus the total amount you wish to spend by the end of the holiday season.
Know your income and set a reasonable limit for dollars you will spend on gift giving this season to help prevent you from overspending beyond your means. You may also consider paring down your shopping list of recipients. For example, many friends and family set up a “secret santa” gift exchange where you each draw just one name of someone in your group to purchase a present for rather than everyone shopping for everyone - you can all agree to a gift spending limit and everyone still receives a present without the expense of shopping for your entire squad.
Another list to make might include the different online shops offering free shipping promotions this season, so you maximize savings on everything you buy. Finally, don’t forget to track all your shopping expenses and package tracking information for all your purchases this shopping season -- you can check out our tips on how from last year.
‘Tis the Season for Online Pickpockets
Sadly, cybercriminals can and do leverage the holiday shopping season to develop new opportunities to scam you out of your wallet. Bah Humbug! Stay vigilant about your online security as you make purchases and be on the lookout for fake invoices and fake emails about your purchases-- those types of phishing scams have grown in popularity this year, with imposters pretending to be PayPal, Amazon, and other reputable e-commerce services sending out emails claiming shipments canceled, fraudulent activity on your account, and bills due to trick you out of entering any of your information on embedded links.
A best online safety practice to follow is: don’t respond if they contact you, instead you contact them. For example, if you receive a message, call or text from a company that claims to be from Amazon or another brand canceling your shipment or saying money is owed, don’t engage with the email or text (e.g. don’t click on any links they send you or share any of your information). Instead, go to the official Amazon website and check your account or inquire with their staff directly to investigate if the claim is real or not. If somebody calls you, you can tell them you are not comfortable providing information when they called you and that you will call back the official company phone number to validate that the request is real.
Pay close attention to phishing scams disguised as email offers that ultimately direct you to fake websites that steal your personal information and money. If your mind is preoccupied with the holiday season, as most of ours are, you may want to consider a service like our new Edison Mail+ offering state-of-the-art phishing detection, along with many other security features.
Happy Holiday shopping!
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