Holiday Shopping When You’re Broke: A Guide to Making Smart Purchases
We are approaching the holiday season, which brings with it the joy of giving. What if, however, your budget is as tight as a drum? Fear not it’s still possible to enjoy the holiday spirit even if you’re broke.
Those who wish to make wise purchases without going over budget should refer to this guidance. We’ll go over smart buying techniques, original present ideas, and spending management techniques to make sure you can provide delight without going over budget.
Well, grab a seat and get ready to master the art of holiday shopping, even if your wallet is feeling a little thin.
How Do I Make Smart Purchases When I’m Broke During the Holiday Season?
Making smart purchases when you’re broke can be tough, especially during the holiday season. Whether you have a lot of gifts to buy or just a few, when you’re living paycheck to paycheck, buying meaningful gifts can seem impossible.
However, with some planning and budgeting, you can still give thoughtful gifts without breaking the bank. Take a closer look at how to start holiday shopping when you’re broke, and learn how to make smart purchases!
Make Sure You Have a Well-Curated Budget
The best advice is probably something that you’ve heard before, but it still has merit, even amid the rise of inflation across the country! You should start by setting a budget and learning how to stick to it.
Firstly, decide how much you can realistically spend during the holiday season. This could mean cutting back on other spending that isn’t necessary!
Cut out some of your current subscriptions and try to spend less on takeout so your loved ones can have meaningful presents this year.
Once you have a budget in mind and have considered all of the bills you need to handle in the upcoming months, you’ll have a better idea of what your holiday budget is. Then, curate your budget based on how much you are willing to spend per person.
You might be more willing to spend a larger amount on your spouse than on a friend, so you should keep that in mind when planning your budget.
Find Deals or Let the Deals Find You
Make sure to shop around for the best deals and compare prices online before you purchase anything! For example, Google offers a “price tracking” tool.
If you have a particular gift in mind, you can use Google’s tool to set an alert and be notified when the price drops below normal! That’s a pretty simple way to save money during the holiday season.
Additionally, items will go on sale throughout the month of November for Black Friday. These sales can often extend into December and persist throughout the holiday season!
The best way to find deals is to make sure that you are subscribed to emails for sites that you frequently visit and are planning on shopping from during your search for presents.
Otherwise, you can find deals by scouring the internet and comparing prices from site to site. For example, if you’re on the hunt for a particular pair of headphones made by a popular brand, try searching multiple sites in order to score the best price! Don’t just settle for the first option that you find.
Don’t Overspend and Gift Together
If you have a significant other or spouse, consider giving presents from both of you instead of gifting individually during the holiday season. That way, you are cutting down on costs and giving together.
Additionally, try not to overspend in other ways! While you may want to go all out for the holidays, it isn’t worth struggling with your bills. Make sure to stick to your budget and don’t overspend during the holidays on anyone!
Set realistic limits per person and plan accordingly. However, if you are a few dollars over budget, don’t sweat it. Instead, just try to plan to spend a little bit less on your next gift to make up for it!
Ask Your Loved Ones to do Secret Santa or White Elephant Instead
Another way for everyone in your family to save money is to try Secret Santa or White Elephant-style gift exchanges!
By coordinating this style of gift exchange with your family, you only need to purchase one gift per person, saving you a ton of money in the process, and everyone still gets a meaningful gift from a family member or loved one!
Consider a Loan if You’re Broke AF and Need Money for the Holidays
Nobody wants to be the person who shows up to a holiday gathering with no presents on hand to make the day cheery and magical. If you’re broke and don’t have any budget for extra gifts this year, consider getting a loan to help make your holiday season magical!
Make sure to do your research and choose an option that fits your needs. Personal loans and credit cards are good options if you have the credit requirements, but secured options are also available.
One option for secured financing is title loans, which use your vehicle’s equity. Don’t worry if you don’t know where to find a broker or agent locally, there are plenty of places where you can get a title loan without showing the car in person.
Be sure to do your research so that you don’t bite off more than you can chew this holiday season.
