With the holidays right around the corner, you may have already started thinking about which seasonal decor items you’re coveting most this year and what gifts to purchase for your favorite people. Creating a budget is one way to corral your spending, sure, and you can score some serious savings on Black Friday and Cyber Monday Sales.
However, according to Wallethub’s Early Holiday Shopping Survey, there’s another trick people swear by. Whether home decor or holiday presents, 94% of people surveyed said that shopping early helps them stay on budget better than shopping at the last minute, and 69% of people said it ultimately helps them save money.
Why Shopping Early Saves Money
Laurie Hise, CEO of Passionate Penny Pincher, agrees that the number one way to stay on budget and save money during the holidays is to make a plan far in advance.
“If you have a mission and boundaries, it is easier to avoid distractions from things that you don’t need or deals that are too good to be true,” she explains. “And by starting your shopping early, you’re able to have a better sense of what deals are real and which are simply marketed as deals without any real savings for the consumer.”
You can even engage in some good old fashioned cost-comparisons and price-matching, notes Kim Scouller, a certified financial educator and author of How Money Works for Women. She says, “Since you’re not rushed, you’re less apt to panic buy and stick to your gift list versus grabbing whatever you can.”
Another financial advantage to starting your holiday shopping early is that you can spread out your spending. This is especially helpful for monthly budgeting and reduces temptation to run up your credit card, which can ultimately incur interest fee rates or late payment fees.
“Rather than putting everything on a credit card in December, you can break things up by spending a little in October, some in November, and any last-minute items in December,” Scouller explains.
All that said, consider this your sign to flesh out your shopping list and get a head start.
Wendy Rose Gould is a lifestyle journalist who routinely contributes to Real Simple, Martha Stewart, Women’s Health, and House Beautiful, among others. She covers home and garden, wellness, and travel, focusing on thoughtful storytelling and detailed reporting. When not writing, you can catch her perusing thrift stores, singing, hitting the gym, and petting any cat or dog that'll allow it.
