How Buying Ahead Can Save You BIG This Holiday Season
It can be so tempting to put off holiday shopping. When the to-do list starts to grow, and the winter crowds begin to form, holiday shopping starts to look like a daunting task. This holiday season, we want to help you. Here are the top 4 reasons how buying ahead can save you time and money this holiday.
1. The Law of Economy
First, buying early saves you money due to basic economics – supply and demand. When demand is high, the price increases. When demand is low, the price decreases. If you choose to purchase your hot-ticket item for the holidays, you will pay a higher dollar for it, as it will be marked up for the holidays. This markup can be anywhere from 15-25% based on the economy at the time.
2. Planning Ahead For Future “Emergencies”
When planning for the future, there are foreseeable events that we can plan for in our financial lives. Things like “foreseeable emergencies”, such as car maintenance, household repairs, healthcare expenses, etc. Other large expenses that come up this time of year, often causing over-utilization of debt, include gifts and holiday meals. Even instances of family outings, weekly meal excursions, the thought of planning ahead can save you a ton of money. Think about car maintenance – that is a foreseeable event. Cars need routine oil changes, tire rotations, even repairs throughout their life cycle. Those expenses are not emergencies, but something we can expect and plan for. Holiday gifts and meals is the same – we know they are coming, and they are something they can be planned for in advance. Rather than racking up thousands in credit card debt at the end of the holiday, plan for it throughout the year, saving each month to prepare for the holiday.
3. Shop for Sales!
I know this sounds cliche, but it really is the truth. Don’t get the “willy wants” as we call them in our house, and become impulsive over the purchase. This can be dangerous for your budget. Instead, focus on where you can get the best deal on the item, even if it means waiting 7 days for shipping. Sometimes, this is the best option for the best price. In other circumstances, it may require waiting for the item to go on sale. It’s OK to wait for the sale! Don’t rush into a purchase, take your time and find the right price.
4. Shopping Early Saves Time!
During the holidays, the stores are PACKED! Choosing to shop early and plan in advance will save you time in the long run, preventing you from waiting in long lines and the hassle of fighting the crowds. You can beat the rush, and relax into the season rather than rush through the hustle and bustle of all the stores.
There are many benefits to shopping early. It can save you money and time if done properly. Most importantly, make sure whatever you do, that it’s a system that works for you! Personally, I love having all my Christmas presents purchased and wrapped in the first week of December. Less stress for me!
What is your favorite way to do Holiday shopping? Do you have any tricks you use regularly? We’d love to hear your thoughts, share them with us in the comments!