BATON ROUGE — The countdown to Christmas is on! With just a few weeks left until the big day, it’s hard to believe the holiday season is already here. If you’re anything like me, you probably haven’t even started shopping yet.
With increasing competition between brick-and-mortar stores and online retailers, many businesses have already begun advertising “early Black Friday” sales.
If you haven’t started shopping yet—or if you’re feeling overwhelmed by all the ads and pop-ups—don’t worry! We’ve got you covered with some money-saving tips, thanks to our friends at Neighbors Federal Credit Union.
Is That Really a Sale? The Truth Behind Discounts
Kim Chapman, Financial Wellness Director at Neighbors Federal Credit Union, advises shoppers to be mindful of “sales” that might not be as good as they seem.
“Start shopping now and put items in your cart. Then, check the prices on Black Friday to see if they’ve really dropped,” Chapman explains. “Sometimes, retailers use flashy sales, claiming items are 50% off when they were cheaper before the sale.”
One of her best tips? Do your homework. Comparison shopping can help you spot the real deals.
The Power of Apps for Smarter Shopping
Chapman also suggests using apps to make your shopping easier. Apps like Flipp can show you the best deals on items you’re looking for, whether it’s the latest iPhone or a barbecue grill.
“I discovered the Flipp app years ago when I got tired of searching for Black Friday ads all over the place. Now, I can find deals from most stores in one spot,” says Chapman. “And reward apps are great too! Many stores offer bonuses for purchases you were already planning to make.”
Other apps that experts suggest to consider:
- Ibotta: Shows which items offer rebates at any given time
- Krazy Coupon Lady: Finds deals on shopping sites and inside stores
- Keepa: Tracks Amazon prices and sends alerts
- Honey: Automatically searches for coupon codes and other discounts
- Dosh: A cash-back app that allows you to take advantage of cash-back rebate offers without using barcode scanning, receipt photos or promo codes
Plan Ahead for Christmas: Christmas Club Accounts
One thing we all tend to forget? Christmas comes the same time every year. So why wait until December to start shopping?
Chapman recommends looking into Christmas Club accounts or using regular savings accounts to put aside money throughout the year. “Even if you just save $10 or $20 a month, it can make a huge difference when it’s time to shop.”
Many financial institutaions like Neighbors and even some companies offer a Christmas club, a short-term account to help people set aside money for the holidays. According to recent data from the Credit Union National Association, most credit union members have access to a Christmas club account.
By setting aside money ahead of time, you can avoid the holiday scramble—and the temptation to rack up credit card debt.
CLICK HERE to learn more about Neighbors Federal Credit Union’s Blueprint for Financial Success
