How Can I Save Money on Holiday Gifts?

Every year Americans spend more money buying holiday gifts than they did the previous year. In 2022, American plan to spend $100 more on gifts compared to 2021. That averages out to $932 per person, according to a Gallup poll. In 2021, Americans planned to spend $837 on their holiday gifts.

Most people consider Christmas shopping a big expense that they must budget for every year. With the holiday season quickly approaching, lots of folks would prefer to find ways to stretch their budgets and save money on holiday gifts.

Black Friday refers to the day right after Thanksgiving. While it's not a legal holiday, it does represent a busy shopping day. Plenty of local stores run sales and specials in order to attract Christmas shoppers.

To save the most on Black Friday, consumers should prepare a budget and shopping list well in advance. With a shopping list in hand, people can take advantage of helpful websites and apps to do some comparison shopping. A list and set budget can also help shoppers resist the temptation to buy on impulse.

Starting early can help ensure that stores still have products in stock and provide a way to beat crowds. In some cases, the best way to get Black Friday deals might actually include avoiding shopping on Friday as much as possible. For instance, some stores open late on Thanksgiving day or even at the stroke of midnight to offer "door-buster" sales. This year, stores are even rolling out sales in October to avoid congestion in stores. So, take advantage of the early Black Friday sales rather than shopping on the busiest Friday.

Some shoppers say that they find the best deals on big-ticket products on Black Friday. Otherwise, they may wait until Cyber Monday, the Monday after the Thanksgiving weekend, to look for sales online. Some online retailers can offer better discounts, especially on less-expensive items and tech. Again, you can do a little research to uncover the lowest prices on high-quality items.

The Monday after Thanksgiving competes with Black Friday as a good time to buy. According to a Deloitte survey, slightly more Americans now prefer shopping on Cyber Monday than Black Friday. Because you don't have to visit a store to shop with Cyber Monday, it can also feel less stressful.

As with the more traditional shopping day, it's a good idea to prepare a list in advance. Also, as with Black Friday, shoppers can find plenty of pre-sale information on retail sites and apps. With online shopping, don't forget to consider shipping charges. For example, with bulky items, shipping charges might cancel out online discounts and make shopping locally a better deal.

Naturally, discounts will vary by item and retailer. Business Insider found that the best day for shopping depends on what you're purchasing. For example, big-ticket items, like home appliances, tend to have better discounts at retail stores on Black Friday. On the other hand, some of the best Cyber Monday deals were for smart appliances and devices, such tech as the Echo Dot, Apple AirPods, and even streaming services like Hulu.

Dave Ramsey, the notable financial advisor, advises people to get their holiday shopping done as early as possible. That might mean avoiding such common shopping days as Black Friday and Cyber Monday. Both online and local stores have sales all the time, so potential savings on some items may not be worth the wait - or the extra stress.

Most of all, create a budget and stick to it without comparing it to what other people plan to buy. In these days of pervasive social media, that can present a challenge. Still, nobody knows what the neighbor gave up to purchase the latest TV or video game set, so don't let photos of their holiday presents create even more stress. Instead, focus on what you want or need, and don't be influenced by those around you.

Really, the best day to go Christmas shopping depends upon the items, budget, and shopping preferences. If some shoppers want to buy a large-screen TV or washing machine, they may find the best deals at a local store on Black Friday. People tend to get good deals with smaller tech on Cyber Monday. For those who would prefer to avoid stress by getting started early, there's no reason to wait. Just start scanning ads and websites today.

Along with large appliances or pocket-sized tech, shoppers will want to consider protecting their investment with an extended warranty. Of course, most stores will offer these along with a purchase, but they will find that Upsie offers affordable warranties that provide even better protection. For example, you can save over 70% on the cost of a warranty by purchasing from Upsie instead.

Upsie offers extended warranties for smartphones, other devices, and even appliances after the sale, so even gift recipients can get one. It's simple to quote and buy a warranty online with Upsie too.

Most tech, appliances, and electronics come with short-term manufacturer warranties, but these generally only help ensure that the product arrives without defects. Very often, extended warranties exclude such common sources of damage as accidents.

In contrast, an Upsie warranty will cover things like spills or drops (for qualifying devices) and help you get your device repaired as quickly as possible. To get started with Upsie, just select the product that needs an extended warranty to find prices and plan details.