7 Easy Ways to Save Money on Your Holiday Shopping

Is your budget a little tight? Here’s the good news: You can still enjoy gift-giving without overspending or going into debt! 

“It’s the most wonderful time of the year,” the song goes. But what the song fails to mention is that after months of soaring prices in everything from gas to rent to groceries, the budget can get a little too tight for holiday shopping.

But don’t let this particular Grinch dampen your holiday spirit! The good news is that if you make your list, and check it twice, you will find there are some great ways to enjoy your holiday gift-giving without overspending or going into debt. 

1. Plan Before You Spend

¡No compres a lo loco! Sitting down to assess your finances in order to decide exactly how much you can spend on Christmas gifts without breaking the bank will help you stay on budget and out of debt. Do not go to the mall or visit that online shopping store without a clear dollar amount of how much you can spend on each individual on your list.

2. Use Cashback/Points Cards

Ya sabes cómo funcionan estas tarjetas: Some credit the amount you earned onto your statement, reducing your credit card bill. Others send the cash to a bank account, or let you convert it to points or vouchers. Reward points can usually be exchanged for merchandise. The point is that whether you use these points to buy your holiday gifts or to purchase basic needs for your home, your shopping is earning you money!

3. Do Family Gifts

If you have a big family to shop for, why not buy one gift that the whole household can enjoy? This could be anything from a large box of handmade chocolates to a basket of exotic fruit or a beautiful picture frame for the den. Knowing what the family enjoys as a unit can be of great help, too. For example, a fabulous board game for “game night” will be something they all appreciate!

4. Make Your Own Presents

Are you handy with those knitting needles? Do you make a mean flan de coco? Do people admire your homemade candles or ceramic pots? Just put a bow on that beautiful scarf you knitted taking into account the style and colors your recipient favors, wrap up that delicious smelling candle or personalized coffee mug, or plate that scrumptious dessert. Cada uno de estos regalos dice: “I made it just for you!”

5. Use Old Gift Cards

If you look around in your drawers or that secret compartment in your wallet, you’ll probably find one or more old gift cards. Okay, maybe there is a small amount on each, but you can use it to partially pay for your purchase in that store or online site. If that gift card you had laying around card shaves off just $3 on a $20 gift, that means you saved 15%. 

6. Yes, It’s OK to Regift – But There Are Rules

Here’s something you may have long suspected: everyone does it. Legend tells of a can of butter cookies that has been around the world twice. But all joking aside, regifting, when done right, is a win-win for all. Rule # 1: Don’t just dust off a candle from the back of your closet and give it to your tía who is allergic to strong smells. Only re-gift something that you believe the receiver would value and enjoy. Rule #2: Do not re-gift a used item, or anything personalized. Rule #3: Make sure the box of cookies from last Christmas or your unused gift card has not expired. Rule #4: Although there is no shame in re-gifting, make sure the gift doesn’t end up in some place where the original giver will see it.

7. Take Advantage of Shopping Online

Aside from saving on gas and avoiding crowds and long lines at the register, there is one great advantage to shopping online. When you’re in a physical outlet store you can’t compare that item to sale prices in other stores. When you shop online, you can have several browser windows open at once, which allows you to see if the price on one site happens to be lower on another.