People plan to shop early this holiday season and are looking for ways to save, here are some tips
Airdate: September 29, 2022
Workforce shortages, inflation, and supply chain issues are making shopping more difficult compared to previous years.
To combat some of this year’s shopping challenges many people are looking for ways to save and are shopping early this holiday season.
According to Bankrate, 25% of shoppers either began their holiday shopping last month or plan to begin shopping this month. Another 25% expect to begin in October, while only 40% plan to start shopping in the final two months of the year.
Rebecca Gramuglia, Top Cash Back Consumer Expert, joined us on Thursday’s Smart Talk to provide some insight on this holiday shopping season and tips on how to prepare for it and save.
Gramuglia said, holiday shopping is going to start early this year, especially with events like Prime Day coming up and other retailers having fall sales early on, also to avoid price increases down the road. She said, she’s also seeing an increase of online shoppers and people who buy online and pick up items in-store.
According to Top Cash Back, 61% of Americans expect to spend more on holiday items this year because of inflation and Gramuglia said people should expect to spend more as prices have increased but there are ways to save this season:
- Create a shopping list for food, travel, gifts, and events
- Research and pre-order items for the holiday now
- Compare prices of items
- Look to see if you’re shopping at a store that has a price matching policy for the holiday season
- Look into credit card programs to determine which spending categories will earn you the most rewards or cashback and use that card on purchases
- Host potlucks and Friendsgiving events to share the financial responsibility with others
- Attend local holiday events or performances, as they may be more cost effective than attending an out of town event
- Create your own decorations with things in your home
- Spend quality time with family and friends at home in a way that requires little to no money
- Create a holiday fund
- Stack your savings
- Use money-saving tools like coupons
Gramuglia said, these tips are great for the holiday season but can be used into the new year and year round.