4 Tips for Buying Holiday Gifts Without Overspending

4 Tips for Buying Holiday Gifts Without Overspending

If there’s a spirit closely aligned with the "holiday spirit", it’s the "spirit of extravagant spending". Here are a few tips on how to celebrate the holidays without going over budget.

number one in blue box  Open a Holiday Savings Account

Some people put extra money in a general savings account and intend to set the funds aside for holiday spending, but the money is often gone when they need it, having been sucked up by everyday expenses such as car repairs, emergency purchases, and medical bills. This is why it’s a good idea to open a holiday savings account for gift purchases — the earlier, the better.

Open a Holiday Savings Account today.


number two in blue box  Shop for Products / Services Online

Shopping online instead of in-store helps you save money in two corollary ways: You have a greater selection — and thus a wider range of prices — to choose from. As a bonus, some sellers pay for shipping on orders totaling a certain amount. If you’d like to gift the same item to multiple people, you could also save by purchasing the item wholesale.   

number three in blue box  Shop Out of Season for Great Deals

Some people take advance holiday shopping to the extreme, beginning shopping for next year’s gifts soon after this year’s holidays end. It requires dedication, but it’s nevertheless a good strategy. Out of season items are often discounted 50% or more less than the original price simply to help them sell, so the next season’s fashions can replace them on the rack. 

number four in blue box  Free Web-Based Budget Application 

It’s always a good idea to have access to a financial budgeting application when saving for gifts, such as the new budgeting tool you can download for free from our website. For example, this budgeting tool makes it easy to plan monthly expenses and get a better idea of where your money goes. Throughout the year, the app can help you reach your holiday savings goals.  

Share Your Helpful Cost Saving Tips!

You’ve heard some of our own cost savings tips for holiday gifts, now we’d enjoy hearing some of yours. It’s easy; just enter your tips in the comments section below!  


Questions about our holiday savings account?

To learn more about American Eagle Credit Union's savings options contact us online or reach our Member Contact Center at 1-877-325-2848.

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