Spending money during the holidays is almost a given, even in 2020 despite the global pandemic. If you’re planning to splurge on family and friends (or yourself), keep reading for our in-house financial guru LaTasha Young’s expert shopping tips on how you can still play Santa this year — without going broke!

CREATE A BUDGET

Creating a budget is a great start to any holiday shopping plan. It’ll help guide your purchases and keep your spending in check.

MAKE A LIST

Taking time to think about who you’d like to buy gifts for is key to avoiding any unnecessary spending. Depending on your budget, you may want to keep your gift list to a minimum of 10 purchases or less.

pLAN AHEAD

After you’ve made a budget and a list, get super specific about what you’re planning to gift each person. Prevent yourself from getting sidetracked when shopping online or in store by jotting down ideas on paper or in your phone beforehand! Even better, ask each person on your list for inspiration, and then work their responses into your budget, if fitting.

REMEMBER THE “RULE OF THREE”

Once you find an item you intend to buy, don’t forget to find it on at least two additional websites for extra savings! When shopping online, I recommend using the Chrome web browser extension Honey. It’s very popular among frequent shoppers, offering users discount codes whenever available. If you prefer purchasing on Amazon, the website camelcamelcamel.com is a free price tracker that helps users by noting any pricing trends they should be aware of as they shop.

WAIT FOR THE BEST DEALS

Although you’re not guaranteed to score the best deals on Black Friday or Cyber Monday, chances are your favorite retailers will run special promotions around this key holiday timing. Make sure to keep an eye out for announcements by subscribing to various brand e-newsletters, many of which offer discounts just for signing up!

TIP: This year, given COVID-19, several stores are extending their Black Friday/Cyber Monday deals — with some like Target and Best Buy offering customers access to shop early to save even more.

CHECK SOCIAL MEDIA

News of great deals is always buzzing on social media platforms, especially Twitter! Two accounts we love to follow for an advance notice before spending any money are Kinja Deals and Fat Kids Deals. Both accounts tweet throughout the day, so chances are, you’ll find one worth exploring — just make sure to turn your notifications on so you don’t miss them.

SUPPORT SMALL BUSINESS

The day after Black Friday is notoriously known as Small Business Saturday. Tons of small businesses nationwide are gearing up to offer their own online and in-person deals that you won’t find anywhere else! The best part? Shopping small offers the added satisfaction of knowing that you’re spending money to help others directly within your community.

BUY AFTER THE HOLIDAYS

While holiday sales often seem too good to pass up, the ones that come AFTER the rush get even better. For instance, you could save big on returned items as many stores are known to push merchandise through exclusive “open-box” deals. Amazon, in particular, has a whole online storefront called Amazon Warehouse that’s dedicated to these types of deals worth up to a whopping 50% off!

MAKE YOUR GIFTS

When push comes to shove, homemade and/or personalized presents are a great way to go! Don’t feel pressured to blow your budget — Pinterest and Instagram are great platforms for gathering ideas to put thoughtful gifts together at less of a cost.

SKIP GIFTING ALTOGETHER

Let’s face it: although great and all, sometimes giving gifts that cost is just out of the question. With the almost 13 million people unemployed right now, your loved ones will undoubtedly understand if you’re unable to buy them a present this year. Rest assured there’s plenty of other ways to show them you care, including spending much-needed quality time.