Don’t Let Holiday Gifts Destroy Your Wallet! Try These 10 Hacks Instead

Close-up of a wallet and a smartphone with shopping apps in a festive setting. — A smartphone displaying a holiday budget list sits beside a leather wallet, helping you manage festive gift spending wisely.

Holiday gifts are nice but mostly expensive, so what can you do to avoid wreak-havocing your wallet? Check here for some shopping tips.

“It’s the most wonderful time of the year!” said the very popular song by Andy Williams. And it’s true! But while holidays are the best occasion to reunite with friends and family from far away, it is also a time when money goes vroom in a matter of seconds.

Decorations, food, and holiday gifts can leave you with an empty wallet before the next paycheck. Because we love our readers and we want them to enjoy the holiday season as much as we do, we’ve made a list of tested hacks on how to not overspend on holiday gifts and enter 2024 without a bunch of new debt.

Let’s start with the number one hack:

1. Always stick with your list

If you don’t want to overspend on holiday gifts, it’s crucial to make a list and stick to it as much as possible. Set aside money for each individual on the list, which should contain all of your friends and family members for whom you want to purchase gifts.

Despite the temptation to take advantage of every deal available on Black Friday and Cyber Monday, I know it’s hard, but you must resist the urge to deviate from your list. If not, you can find yourself overpaying.

An ink and watercolor drawing of a laptop screen where a pair of scissors is cutting a price tag next to a coupon code box. — Apply digital promo codes to your online shopping cart to snip away high holiday gift prices.

2. Look for coupons online

Yes, coupons are still a thing, and it’s a terrific way to get holiday gifts at lower prices! To help you save money, check discount coupon websites or use a browser plugin like Honey to locate discounts automatically when you purchase online. Just be aware that using coupons on websites might prevent you from earning money through cashback programs. Make sure the final link you visit before making a purchase originates from the cashback website or app if you’re attempting to get cash back.

An infographic showing a $100 gift card being purchased for $90, highlighting a 10% savings through specialized websites. — Save ten percent or more on retail prices by purchasing discounted gift cards through online marketplace platforms.

3. Opt for discounted gift cards

When you have to buy holiday gifts for a ton of people, even those departed relatives you barely talk to, this task can become a huge pain in the neck. You don’t know what to get them; you don’t know if they will like it or not, so it’s complicated. To reduce the stress and get a practical gift, go for a gift card.

On websites like Raise and Gift Card Granny, you can save up to 10% or more and even get cash back on some gift card purchases.

A top-down photo of a parent and child making snowflake ornaments out of popsicle sticks on a wooden kitchen table. — Craft budget-friendly holiday ornaments using popsicle sticks, glue, and natural elements like pinecones and dried oranges.

4. Embrace DIY!

Postage and Christmas card purchases may add up. Make your postcards from family pictures using a design tool such as Canva if you want to save a little additional money. They will cost less to ship when you print them at home.
Additionally, because decorations can get pricey, as we all know, making them yourself might be both enjoyable and less expensive! You may make decorations for less money by crafting snowflakes from popsicle sticks, placeholders from candy canes, and ornaments from pinecones.

Your family will enjoy participating in these activities together, and many options are available that are simple enough for your kids to assist with.

An infographic comparing two shipping boxes, one with free returns and one with a fifteen dollar shipping fee. — Choosing Retailer A with free returns over Retailer B with shipping fees is a smart choice.

5. Go for offers that allow you free returns

When it comes to holiday gifts, it’s crucial to choose a retailer that offers free return costs. Take delivery expenses into account while comparing rates. Also, buy the gift from a shop that allows free returns both online and in person if you’re unsure if the person who gets it will be interested in keeping it. After you’ve already used all your holiday money, the last thing you want is to be stuck paying return shipping charges. Better be safe than sorry!

Will you have some friends over your place for the Christmas holidays, and you don’t know how to keep everybody entertained? No worries! Check out this big collection of 12 games for Christmas, with games suitable for both adults and kids to enjoy. It costs only $18.99 on Amazon. Hurry up and get your festive bundle at a nice price!

A person on their couch using a laptop to compare prices for a product on Google Shopping. — Compare prices on your laptop while relaxing at home near a festive Christmas tree.

6. For online shopping, always compare prices with Google Shopping

Are you on a shopping spree for holiday gifts and you can’t decide on one store? Well, you don’t have to! Use Google Shopping to look up other offers and discounts. Just type in the name of the product and use Google Shopping’s price sorting to identify the cheapest option. When making your selection, be sure to account for shipping charges and return guidelines, be aware of scams, and only purchase from reliable merchants.

A close-up of a person's hand selecting a vintage ceramic teapot from a shelf at a second-hand store. — Discover unique holiday gifts like this vibrant orange teapot while browsing your local thrift store shelves.

7. Second-hand stores can be a good option

If you can give someone a DIY item, you can also find something cute at a second-hand store. Don’t worry if you can’t find what you’re looking for in physical stores or online websites, give it a shot to second-hand sites and apps. Besides you can be lucky to find something new and top-notch quality, and you will notice that most prices are kind to your wallet too!

The cheap pricing on well-known brands may surprise you. Some big-box businesses also have eBay storefronts where you can get deals on brand-new and reconditioned merchandise, while some Poshmark merchants are selling brand-new stock. Just make sure the merchant is credible, so you won’t end up with no holiday gifts because you got scammed.

8. Subscribe to loyalty programs to get discounts

By entering your email address, you may receive unique discounts from the majority of online stores through their loyalty programs. Simply by registering, you may usually receive a 10% or 15% discount. In addition, you’ll receive email alerts when new coupons, deals, and unique discounts are available. Make the most of these discounts as you finish up your shopping for holiday gifts.

9. Ask your kids to make a list of what they desire for Christmas

Every Christmas, I make an effort to pass on to my kids important knowledge about creating budgets and practicing financial responsibility. I request that they develop a list of no more than ten items that they would want to receive as gifts. This helps me figure out exactly what to get them as holiday gifts to make them happy.

If you find this idea nice, you can follow my example and do the same. Moreover, in case they are not aware of the fact that you are Santa, you can explain to them that some things are more expensive than others and that Santa does not have enough money this year to purchase everything on their wish list. However, they can save their money in a piggy bank and buy those items later when they have enough saved up.

An illustration showing a hand holding a shopping list and pushing away a whirlwind of shiny, distracting products. — A hand blocks a colorful swirl of tempting items while holding a list of core life priorities.

10. Skip impulse buying

Given the fantastic pre-holiday sales and huge discounts, you can be easily tempted to buy more holiday gifts that aren’t actually on your shopping list. However, keep in mind that these particular treats can eat up your budget for Christmas shopping. Stop for a moment and think if you really need to make that purchase or not. If there is a special offer, bear in mind that the price will most likely be available again later in the year.

I am sure you can afford to wait if it’s not something that you need right now!

Are you interested in more useful tips on how to celebrate holidays in style even if you don’t have the budget of a king? Check out Thanksgiving Dinner On A Budget: 4 Tips For A Plentiful Dinner.