Pre-Christmas, you shop for other people. Post-Christmas, it’s all you, baby. The best news? Most stores do major price cuts starting December 26th in an effort to move leftover holiday inventory and make room for the incoming spring items.
Scroll down for six tips to make the most of your Christmas cash.
Fun fact: Gift Card Exchange Day is an annual event on December 26th. If you receive a gift card you know you’re not going to use, rather than letting it gather dust in a drawer somewhere, use Gift Card Exchange to swap it in for cash. You’ll take a serious hit (a $50 Madewell card went for $28 cash), but we figure some cash is better than nothing! Conversely, if you’re planning on making a purchase, you can buy a deeply discounted gift card from sites like Gift Card Granny. The influx of cards on the market post-holidays is likely to drive the gift card price down.
Did you know that 45 per cent of the after-Christmas sales are for apparel? This is the time for you to score big on clothing and accessories. We have a feeling you’ll be on board with that, no?
As mentioned before, retailers are anxious to move winter merchandise to make room for incoming spring product. What does this mean for you? Extra-good deals on sweaters, coats, and boots!
It can be tempting to go buck wild at sales, telling yourself that you won’t shop for the next few months, but you don’t want to spend more than you can actually afford. Everyone’s situation is unique, but generally financial experts say that you should budget around 5 per cent of your take-home pay for apparel. Try and stick to this percentage to avoid post-shopping regret!
Retailers know that shoppers will be out in full force post-Christmas, and will make every effort to get you to spend with special deals and promotions. Buy one, get one free deals and limited-time offers aren’t always what they seem.