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As the holiday season approaches, I know the pressure to start shopping early and get it out of the way starts mounting. After all, stores are already rolling out their seasonal aisles and promotions. However, jumping the gun too soon (and waiting until the last minute) can end up costing you more. The key is striking the right balance between planning ahead and waiting for the best deals.
Plan early, but don’t buy too soon
It’s smart to start your holiday shopping list and research gift ideas well in advance. This gives you time to thoughtfully consider what to get everyone on your list. You can also watch for sales and discounts in the weeks leading up to the holidays.
However, resist the urge to purchase items as soon as you see them. One of my favorite tips is to physically write down the things you want to buy before you buy them. Prices on many popular holiday gifts tend to drop closer to the big day. If you buy too early, you may miss out on better deals later on.
Sites like CamelCamelCamel and Honey are popular options to track online sales prices. For more, here are the best websites and extensions that Lifehacker’s Daniel Oropeza uses to check price history and track prices so that you can be sure you’re getting the best deal possible.
Know when to buy
So when is the best time to make your purchases? Generally speaking, the sweet spot is around Black Friday and Cyber Monday. Retailers offer deep discounts and doorbuster deals during this period to kick off the holiday shopping season. In the weeks after Black Friday, you may see prices rise again briefly before dropping even lower closer to Christmas—but by that point, you’re adding a lot of stress to your plate.
Take advantage of price matching
To make sure you get the best deal, take advantage of retailers’ price matching policies. Many stores will match or beat a competitor’s price if you show them the lower price. Just be sure to read the fine print, as there are often exclusions and limitations.
Don’t forget about shipping times
One final consideration is shipping times. If you wait too long to order, you run the risk of items arriving late. Give yourself ample time, especially for online orders, to ensure your gifts get there on time. Consider adding dedicated calendar appointments for online shopping in the weeks before holiday gift-giving deadlines.
By planning your holiday shopping in advance but holding off on purchases until prices drop, you can maximize your savings and avoid overspending. With a little strategic timing, you can cross everyone off your list without blowing your budget.
For more, keep up with our favorite deals for Black Friday and Cyber Monday here.