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Simple Ways to Save Money During the Holidays in 2020

12.07.2020 by admin // Leave a Comment

simple ways to save money during the holidays, simple ways to save money for Christmas

Whether we like it or not, 2020 has made it easier to save money this holiday season. Many of us live in areas with strongly suggested stay at home orders. The money we usually spend traveling and hosting friends and family isn’t happening this year. Company holiday parties, and the spend on outfits, are also cancelled. Below are simple ways to save money during the holidays in 2020 and years to come.

Keep a List of Everything You Need to Buy And Watch For Sales

Start off the holiday season by creating a list of everything you need or want to buy. This includes gifts for people, items you need to celebrate the holidays around your house and things you and your family need in general. For gifts, don’t forget about teachers, doormen and other people that have helped you throughout the year. There are a ton of great deals around the holidays not just for gifts but also for household items and even things you use daily like hair and skin products. Be smart with your spending and take advantage of better prices for things you need.

If money is tight, set a limit for how much you can spend and don’t go over that amount. If you can afford to spend a little extra don’t hold yourself to a strict limit. That way, if you see something that’s normally $100 for $50 that you won’t need until the Spring you can buy it now instead of spending $100 later. Sticking to your list will help limit unnecessary purchases and help you save money.

Buy Gift Card Deals

During Black Friday, Cyber Monday and the weeks leading up to Christmas many places both large and small offer discounts on gift cards. A local restaurant group offers additional $25 gift cards for every $100 you buy. In 2019 and 2020 Target offered 10% off gift cards one weekend up to $400 in 2019 and $500 in 2020.

This is a great way to save on gifts as well your normal purchases. If you visit these restaurants and stores throughout the year buy the gift cards and save money throughout the year as you redeem them. If this pushes you a little over your budget but you have the cash to do so don’t feel guilty about spending money. You’re helping give cash to local businesses that need it most and the money you spend now is ultimately saving you money next year.

Celebrate the Holidays Via Zoom

Our options for how to celebrate the holidays in 2020 are definitely not our top choice but it does present an opportunity to save money. Take advantage of the stay at home orders / recommendations and save money on travel and food by celebrating via Zoom. When this is all over we’re all going to want to see family, travel, attend events etc so you can save money now to celebrate extra later, add to your emergency fund or pay down bills.

Celebrate The Holidays on Another Day

Traveling during holidays, especially when it involves a plane, is expensive. Sure, we’d all prefer to celebrate the holiday on the actual day but can you celebrate a few days or a week later? Being flexible with the family gathering can save you hundreds of dollars on flights. It also saves you time waiting in airport security lines and traffic.

In 2020 especially we are missing spending the holidays with our families. There is no reason we can’t celebrate the holidays later in the spring or summer because we weren’t able to celebrate now.

Buy Decorations Post Holiday Or During a Sale

The best time to buy holiday decorations is always immediately after the holiday has passed. You can score great deals on Thanksgiving decorations and Christmas decorations using these tips.

Savings aren’t just limited to household Thanksgiving, Christmas or Hanukkah decorations either. You can also save money on holiday cards immediately after the holiday and gift wrapping. If someone gives you a gift in a gift bag, save it and reuse it.

Have Someone Else Host the Holiday

Hosting a holiday gathering is expensive. It costs an average of $31 / person to host Thanksgiving. To drive down costs, limit the number of people you invite or take people up on their offer when they ask what they can bring. Save more money hosting Thanksgiving by taking these small steps.

Save Money Attending Holiday Parties

Getting invited to a holiday party sounds like a free meal. It can be a cheap night out! But, be careful of the other expenses. Expenses can add up and it may make sense to skip some of the holiday parties you’re invited to.

When you’re attending a company holiday party what are you wearing? Are you doing your own hair and makeup? How are you getting to and from the party? Are you meeting up with anyone else before or after? If you’re attending the party, wearing clothes you already own and driving yourself it will be pretty cheap to attend. As you add new clothes, Ubers, etc the costs will add up pretty quickly.

When you’re attending a family or friends holiday party some of the same expenses can creep in. New clothes, hair, makeup, Ubers, etc. In addition, gifts for the host. If you’re invited to a lot of holiday parties around the same time you can plan and take advantage of buying in bulk. For example, making a big batch of Christmas cookies and bringing a platter of cookies to each party. Some liquor stores have discounts if you buy 6 or more bottles of wine at a time.

If you notice no matter what you can’t cut your spending down enough, look for ways to earn more money fast through side hustles. What are simple ways you’re saving money during the holidays?

Categories // Smart Spending Tags // Holidays

Why You Should Buy Clothes Now – Even Though You Have Nowhere To Go

11.21.2020 by admin // Leave a Comment

best clothing deals, best time to go shopping for clothing

Why buy clothes when you have nowhere to go? We’re all living in the same few outfits at home, do you really need new clothes? Probably not today, but one day you will. With no one buying clothes the best clothing deals are now, and eventually you will need new clothes. Don’t say you don’t need something now and skip the deal only to need a new pair of snow boots a year from now and spend $50 more. The Census Bureau released consumer spending for March which showed a staggering 50.5% drop for clothing and accessory brands. With this unexpected drop in demand, there is a ton of inventory and a ton of deals!!

With Black Friday right around the corner, you’re likely to find a lot of great deals as retailers try to get rid of their excess inventory. You’re also likely to find great deals on second hand sites as people clear out their closets and resell final sale items that didn’t end up fitting.

Their Loss is Your Gain – Take Advantage of People Emptying Out Their Closets

With most people spending more time at home than usual many have taken the opportunity to organize their closets. They’re donating clothes and also selling them. This has led to a lot of great finds at thrift stores, Poshmark, The RealReal and local consignment stores already.

Now, 6-8 months later did you miss these deals? Definitely not! There was still a lot of uncertainty back in March. Now it’s clear the normal we return to may look very different. Some people may continue to work from home full time or even relocate. Not everyone is the same size they were back in March. Many are still clearing out their closets or still have stuff listed for sale from earlier, take advantage!! And, don’t forget to negotiate if you’re buying on sites like Poshmark for an even better deal.

Retailers Are Still Trying to Get Rid of Excess Inventory

While consumer spending has rebounded since March, demand in 2020 is still lower than brand expected. This has led to excess inventory. To get rid of this inventory and get much needed cash flow retailers have increased discounts on clothes and accessories.

Why is it likely we’ll see excess inventory continue in 2020? There are significant lead times in apparel, so most of 2020 was planned for back in 2019 when no one expected a global pandemic. Supply Chain Dive took a further look at a McKinsey and Company survey and notes that hybrid sellers on average have a 44 week lead time. This compares to vertically integrated companies which have an average lead time of 28 weeks.

While retailers typically have end of the season sales, the selection on sale is much better than usual. For example, Lululemon always has a “We Made Too Much” section on their website. Usually this includes merchandise that didn’t do well, or popular styles in not popular colors. But now? Browse the selection and you’ll see popular styles in popular colors. I got a black Swiftly Racerback for $39! The first Swiftly Racerbacks I bought back in 2014 and are still in great condition even though I’ve probably worn them at least 500 times by now. Seriously.

Lilly Pulitzer has two After Party Sales a year with insane discounts and added another sale this summer. The next APS likely in January will likely have a great selection.

The good deals at stores like Lululemon and Lilly Pulitzer are final sale. So, you’ll also find many new with tags deals on sites like Poshmark from people reselling these items because they didn’t fit.

What Clothes Should You Buy?

Getting a good deal on clothing isn’t a good deal if it sits in your closet and you never wear it. You may be able to resell it for the same or more later because the discounts are that steep right now but you shouldn’t plan on that. So, what clothing should you buy when you don’t know when you’ll be able to wear what you buy?

Buy Clothes and Shoes For Your Capsule Wardrobe

A capsule wardrobe is a mini wardrobe made up of versatile pieces you love to wear. Plan your capsule wardrobe based on your style. You can look for inspiration on Pinterest. WhoWhatWear shares how to get to a 37 piece capsule wardrobe.

Next, take inventory of your own closet and see what you’re missing. Keep a list of the items you’re missing and then look for sales and good deals on the items on secondhand sites. When you buy a piece, cross it off your list.

Buy Timeless Pieces

Clothes go in and out of style. If you see a piece of clothing that you like now but know you may not like later don’t buy it. If you don’t have anywhere to wear it while you like it, it may sit in your closet never worn. Instead, focus on the timeless pieces. This doesn’t mean just expensive pieces. It can mean something as simple as a basic tee or a pair of jeans.

Buy Shoes

If you’re not sure what clothing you’ll need in the future, but want to take advantage of the deals now look for deals on shoes. If you work out a lot, you know you’ll need new sneakers at some point. Whether you’ll be back in the office or not, you always need a good pair of black heels, nude heels and black flats. If you live in warm weather you’ll always need a basic pair of sandals and if you live in an area it snows you’ll always need a pair of snow boots. Why not get a good deal on them now?

Buy Work From Home Clothes

Working from home isn’t going to go away anytime soon. Even when things get back to “normal” many people may continue to work from home full time or a few days a week. You might as well be comfortable, especially now that you’re spending less on dry cleaning and commuting.

Buy Workout Clothes

Quality workout clothes make all the difference. They last longer (I still have Lululemon from 5 years ago that are a little faded but otherwise great condition)! I’ve also found that quality workout clothes have also motivated me to work out more and better. When I was wearing free t-shirts I would congratulate myself for just making it to the gym. After I invested in quality workout clothes I made myself take working out much more seriously to justify the purchase.

Where To Find the Best Clothing Deals

There are still a ton of deals out there now on clothing. On basic items, Target, Walmart and Amazon have Black Friday specials on everything including clothes. For luxury items even Saks and Nordstrom still have incredible deals to get their inventory sold and generate cash. It’s hard to find a retailer that isn’t advertising great deals right now.

The best deals you’ll usually find are for second hand items. Poshmark and TheRealReal are really easy to shop from home. You can search NWT (New with Tags) items on Poshmark to get all of the non returnable new gear people bought and it didn’t fit from sales at places like Lululemon and Lilly Pulitzer earlier this summer. While you can’t return items on Poshmark, you can return items on TheRealReal as long as they aren’t final sale. And, if you enjoy the thrill of finding a good deal stores like TJ Maxx are likely to have a better selection than normal as well as thrift stores!

What deals have you found on clothing this year?

Categories // Smart Spending Tags // Clothing, Shopping

How to Save Money on Thanksgiving Decorations

10.19.2020 by admin // Leave a Comment

DIY thanksgiving decorations, thanksgiving decorations outdoor, thanksgiving decorating ideas, thanksgiving decorations to make, easy thanksgiving decorations, cheap thanksgiving decorations

Thanksgiving may look different this year but that doesn’t mean you can’t get in the holiday spirit at home. This Thanksgiving, make your home look festive without spending a ton of money. The good news is decorating for Thanksgiving doesn’t have to be expensive. And, with likely less people at your Thanksgiving this year, you can put the money you would have spent on food towards reusable Thanksgiving decorations. There are likely great deals on retail in general due to lower demand which makes 2020 a great time to buy Thanksgiving decorations. Here are 8 tips to save money decorating your home for Thanksgiving.

Buy Quality Cheap Thanksgiving Decorations That Can Be Reused

To spend the least amount of money in the long term on Thanksgiving decorations, buy reusable Thanksgiving decorations. Quality cheap Thanksgiving decorations can be found with discounts and after Thanksgiving sales. Some autumn themed decorations may even go on sale after Halloween like pumpkins. While these decorations may be more expensive at first, you won’t have to continue buying decorations year after year, ultimately saving money. This includes Thanksgiving tableware, [fake] candles, wood centerpieces, and more.

The best way to score deals on quality cheap Thanksgiving decorations is to find what you want to buy first. You can look at sites like Pottery Barn that have a page dedicated to Thanksgiving decorations. Then create a list and watch for the items you picked to go on sale. Some retailers like Nordstrom even send you emails when you put items in your wish list and they go on sale.

Make Your Own Thanksgiving Decorations

Are you crafty? The best way to buy cheap Thanksgiving decor is to DIY Thanksgiving decorations! You can make your own Thanksgiving indoor decorations and Thanksgiving outdoor decorations. There is some decor you can find for free like pinecones and pine branches outside. You can also spend a little money on craft materials from a local craft store. Look out for coupons at local craft stores to buy your supplies and save even more.

Look for inspiration for DIY Thanksgiving decorations on Pinterest such as this DIY wood centerpiece that can be refilled, and ideas for cheap Thanksgiving decor by searching cheap Thanksgiving table settings.

Pumpkins and gourds will cost a few dollars each. If you prefer the real thing to fake ones, grow your own to save money. Then, save the seeds so you can plant them again next year. You can also save money on candles by buying theme candle holders so that the replacement white candles are cheaper.

Borrow Thanksgiving Decorations

Usually, people decorate for Thanksgiving when they are hosting Thanksgiving. If you’re hosting, ask your friends that aren’t hosting if you can borrow decorations or needed kitchen items.

Accept Thanksgiving Decorations and Household Items from Family Members and Friends

Understandably not everyone has the option to get used items from family. But, over time things tend to accumulate especially if you have family that has lived in the same place for decades. Help them declutter by taking Thanksgiving decorations and kitchen items off of their hands. Perhaps they have held onto items that are sentimental but they don’t use. They’d prefer to keep something in the family instead of donating it.

Are any of your friends moving? Or, are you living with roommates now and is there anything your roommates are trying to get rid of? Any time someone moves there are always items – big or small – that they won’t want in their new place. It works out for both of you if you can take something off your friends hands they don’t want anymore.

Ask for Thanksgiving Decorations on Your Wedding Registry

Today, 66% of married couples have lived together before they walked down the aisle according to the NCBI. If you already have the basic items, ask for Thanksgiving decorations and kitchen items needed to host Thanksgiving. There are so many items you need when you host Thanksgiving, and it adds up quickly.

Not sure what kitchen items you need to host Thanksgiving? Here is a starter list:

  • Turkey Roaster
  • Kitchen aid
  • Fall themed plates and bowls
  • Extra table settings
  • Pie tins
  • Extra serving bowls
  • Extra utensils
  • Table linens
  • Potato masher
  • Baster set
  • Cooking thermometer
  • Turkey lifters
  • Chopper
  • Zester
  • Apple peeler
  • Drying mat
  • Measuring cups
  • Mixing bowl
  • Flavor injector
  • Cooking twine
  • Gravy strainer
  • Gravy boat

Buy Thanksgiving Decorations and Kitchen Items at Estate Sales

Estate sales are great for finding great deals on holiday decorations including kitchen items and cheap Thanksgiving decorations. An estate sale usually happens when there is a death and the family is trying to sell almost everything in the house before putting the house on the market. Estate sales are a great place to find complete sets of Thanksgiving table decorations since the family is trying to clear out the entire house. Considering most Thanksgiving decorations are decorating the dining room table, you’ll likely find many of these items at an estate sale. It’s also a great opportunity to find high end household items like Waterford crystal.

To find local estate sales, enter the town + estate sale into Google. If you live in a city, you may have more success looking at close suburbs. This is also a great time to buy furniture or other household items you still need for your home.

Use Coupons When You Buy Thanksgiving Decorations

When you do want to purchase new items prior to the Thanksgiving look for coupons and deals. The deals won’t be as good as after the holidays but you can still find 10% or 20% off the store coupons that you can apply to Thanksgiving decorations and kitchen items. Bed, Bath and Beyond always has 20% off coupons. For higher end decorations Bloomingdales Home has Friend & Family sales (it’s free to become a loyalist).

2020 is the perfect year to take advantage of these coupons and sales. With Amazon delaying their annual Prime day sales until Oct, retailers like Target and Walmart followed with great deals. While these days have since passed, retailers appear to continue the specials they normally don’t offer until Black Friday in an effort to easy crowding during normal busy shopping periods. Also, with fewer people at your Thanksgiving dinner, you won’t need as many items until next year when you can have a full Thanksgiving dinner. Pottery Barn and Crate and Barrel already seem to be starting their autumn decoration sales early this year, even though the holidays haven’t yet happened.

Buy Thanksgiving Decorations After Thanksgiving Has Passed

If you want new decorations or a particular decoration buy it after Thanksgiving. Stores want to clear their inventory quickly to make more room for Christmas. And, there are a ton of deals on Black Friday, especially on kitchen items. While the selection may dwindle quickly as the sales get better it’s an excellent way to save money. Pottery Barn, Crate and Barrel and Macy’s are a few stores where you’ll find Thanksgiving decorations on clearance after the holiday.

Budget Your Money Wisely

It’s very easy to get caught up in the excitement of the holidays and spend way more money than you had planned. This is only the start of the season too, so you definitely don’t want to start out on the wrong foot! Create a budget for how much you want to spend and stick to it. Personally, I created a household items and repairs budget and included any holiday decorations and cookware that was required in that part of that budget line.

Saving money on Thanksgiving decorations is only one way to save money during the holiday season. Here are ways to save money hosting Thanksgiving.


Categories // Smart Spending Tags // Holidays

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