There are just over a hundred shopping days until Christmas, and according to the National Retail Federation, the average person will spend more than $900 for gifts this holiday season.
It might feel too early to start holiday shopping, but actually, this is the perfect time to get your finances in order.
In fact, a lot of people have their gift buying done by the end of October!
Experts say starting early gives you more control over your spending and reduces the chance of impulse buys.
The first thing you should do is review your credit report. Consolidated Credit recommends looking for mistakes that could lower your score or limits.
Check your credit card balances and make a plan to pay down debt now. Trim any extras like unused subscriptions or excess takeout. Even small savings can free up holiday cash.
Experts at Equifax recommend building a holiday budget that covers everything, not just gifts.
Holiday travel should be paid for soon. Thanksgiving flights are cheapest if booked in early to mid-October. Christmas flights should be locked in by late October to avoid a last-minute price spike.
As far as gifts, NerdWallet says September sales offer major discounts on mattresses, appliances, outdoor furniture, grills, bikes, and tech. You could save up to 70%.
But before you buy, set a dollar limit for each person on your list. Many financial planners say it’s one of the most effective ways to stick to your overall budget.
Download a cashback or coupon app before you buy. Sites like Rakuten, Honey, or Capital One Shopping offer rebates and automatic discounts.
Also, tech tools like Camelcamelcamel and Slickdeals will alert you when items drop in price.
And here’s a final tip — start saving now. Putting away just $50 a week from September to Christmas adds up to $800, enough to cover most holiday expenses.