12:46 PM 19th December 2024
lifestyle
Could Holiday Sales Be Draining Your Christmas Budget?
![Image by StockSnap from Pixabay]()
Image by StockSnap from Pixabay
As the festive sales ramp up, the excitement of Christmas sales can tempt even the savviest of shoppers to make poor financial choices. However, savings experts warn of the common shopping mistakes that turn holiday cheer into post-Christmas financial woes.
Voucherbox share their top tips for avoiding the pitfalls of festive bargain hunting, helping shoppers make the most of their holiday budget this year.
Sleigh impulse purchases
Sales create a sense of urgency, often prompting people to buy items that they may not need. To avoid overspending, shoppers should set a budget and make a list of essential items before they start making purchases. This way, they can focus on priorities and make more informed shopping decisions.
Check it twice - Comparing prices
An item labelled as a ‘deal’ isn’t necessarily the lowest available price, which can lead to unnecessary spending.
Before purchasing, shoppers should search for the item online and use the shopping tab to compare prices across multiple retailers to ensure they are getting the best deal.
Bundle deals can frost your budget
Multi-item discounts often prompt shoppers to buy extra items they otherwise would not have purchased to qualify for the discount.
If the additional purchases are genuinely needed items that would have been bought anyway, it can be a good deal; otherwise, more money is being spent unnecessarily.
Don't get Grinched by no-return policies
Sale items can sometimes have different return policies; therefore, shoppers should check and read the fine print to avoid ending up with unwanted purchases that they cannot return.
Don't let hidden fees steal your Christmas cheer
It is important to factor in hidden costs like shipping fees, taxes, and service charges, as these can add up and reduce the overall savings of a deal. Shoppers should consider and calculate these additional costs before making a purchase.
Charlotte Lumbroso-Baumgartner, CEO of Voucherbox added:
"It is essential for shoppers to approach sales with a clear plan and a critical eye. Planning ahead, staying informed, and prioritising genuinely needed items can help shoppers make the most of a sale event.
"While sales are designed to encourage spending, setting a budget, comparing prices, and understanding the fine print can help avoid common traps that lead to overspending.
"A deal is only valuable if it aligns with your needs and budget, so focusing on what truly brings you value is crucial. The key to maximising savings is to be intentional, not impulsive."