How to Save Money on Holiday Presents

It’s the season of giving, and presents are definitely one of the biggest expenses of the holidays. If you’re stressed about holiday spending, don’t worry; you can easily save money this year using our budgeting tips.
Stack of holiday and Christmas presents

The holidays are almost upon us, and excitement is in the air. People are looking forward to spending time with their friends and family, and they are already thinking about digging into a delicious holiday dinner. However, first things first: it’s time to buy presents and cards for your loved ones. Here are five tips to help you save money this Christmas.

Buy gifts for children at cheaper stores

Children don’t normally mind how much their gift costs, or which shop it comes from, so you don’t need to spend large amounts of money unnecessarily. Look in discount stores and cheap toy shops to find gifts, as they often sell popular toys at low prices. You can also buy quality gifts for adults from large wholesale retailers. You will be able to find a large range of items at discount prices, which can save you some serious money.

Give thoughtful gifts (that don’t have high shipping costs)

Buying gifts online is very convenient around Christmas; it saves time and sometimes it can save money. However, you do need to watch out for high shipping prices on presents - they add up quickly and they can become a big expense. Instead, look for gifts with low shipping costs, or buy in-store. Another option is to give thoughtful gifts that don’t cost a penny — for instance, if you know a couple with a baby, you could offer to babysit.

Buy most of your gifts in one store

Buying most of your gifts in one store will help you to save money, as you are exposed to fewer products and less advertising. When people shop in five different stores for presents, instead of one, they are more likely to be tempted to splurge on extra gifts that they see as they walk around. If you want to try this, choose a large store with discount prices. You will spend less on gifts, and you’ll get all of your shopping done in one day!

Don’t buy gifts for yourself

When people go holiday shopping, most are tempted to treat themselves to gifts as well as their friends and family: 59% of Americans reported buying “me” gifts during their holiday shopping last year.

Sometimes it can seem like we’re buying a crazy amount of presents for friends, parents, children, and co-workers. It can feel stressful spending so much money at once, so people often try to improve their mood by treating themselves to a gift as well. However, this should be avoided if you want to save money; it increases the amount you’ve spent on presents, and you’ll be receiving gifts soon anyway, so try to resist the temptation!

Find local bargains online

The internet is a wonderful thing, especially at Christmastime. Although some products are expensive to ship, others are reasonable—and cheaper than the options in-store. One of the best ways to save money online is to look for gifts up for auction locally. You can find lots of different gifts, from electronics to toys, that are available to pick up near you. As the item must be collected in person, there will be fewer bids, so it’s easy to find a bargain.

If you want to do this, search local options and make sure they’re available for pickup. You can also download apps that compare prices online to make sure you get the cheapest option.

Disclaimer: Hey! Welcome to our disclaimer. Here’s what you need to know to safely consume this blog post: Any outbound links in this post will take you away from, to external sites in the wilds of the internet; neither Simple nor our partner banks, The Bancorp Bank and BBVA Compass, endorse any linked-to websites; and we didn’t pay/barter with/bribe anyone to appear in this post. And as much as we wish we could control the cost of things, any prices in this article are just estimates. Actual prices are up to retailers, manufacturers, and other people who’ve been granted magical powers over digits and dollar signs.

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