According to a study conducted by PwC, 84% of consumers in 2025 have expressed their intention to cut down on holiday spending. If you’re someone who wants to extend your budget without sacrificing holiday fun, it’s best to start planning for the holidays in September or even earlier. Creating a gift shopping plan and other holiday arrangements in advance, and taking advantage of promotions throughout the season, can help you save on expenses.
Many people mention budgeting for the holidays, but putting it into practice can be challenging. This is because you may not want to cut corners when it comes to loved ones, and much of the shopping is done on impulse. This is where the “Three Gift Rule” comes in handy.
The “Three Gift Rule” originates from the three wise men who presented gifts to Jesus and follows the principle that each giver (including Santa Claus, if applicable) gives three gifts. These gifts are categorized as something the recipient wants, needs, and can read. Following this plan can help you better organize your shopping budget.
If your budget allows it, you can opt for the “Eight Gift Rule.” The eight types of gifts for the recipient include: something they want, need, can wear, can read, activities they can participate in, edible items, playthings, and things the whole family can enjoy. Have children list items for each category, and then decide which gifts to purchase based on your budget.
By planning your gifts, you can not only decide on what to give in advance but also allocate a budget for each category. This not only reduces stress but also helps you save money.
When shopping, you can choose to browse around or make direct purchases. Browsing around may lead to overspending, while making direct purchases can help you stay within budget. Browsing entails aimlessly wandering in stores or clicking around online without a specific shopping goal, making it easier to make impulsive purchases that quickly exceed your budget.
Direct purchasing involves selecting specific items from a predefined list. Random browsing can result in overspending as you may come across items not planned for. Direct purchasing allows you to focus on items on your list, ensuring your budget plan remains intact.
Lu Haofei, the owner of the online store Tank Retailer, told The Epoch Times, “When shopping online, the best approach is to first find the items you want on large retailers like Amazon or Walmart and then search for smaller stores that sell the same items.”
Haofei explains that compared to larger companies, small online stores tend to actively compete for your business, often by offering discounts or better services.
“Check if the merchants have a phone number,” he says. “Call them up, let them know you found these items on Amazon but prefer to purchase from a small business and inquire if they can offer a better price.”
Haofei adds that store owners usually take phone calls themselves and are likely to offer discounts. “I know this because I still answer customer calls myself,” he says. “If customers make a request, I often give them a discount.”
According to Haofei, a trick to getting discounts when shopping online is to not complete the purchase immediately. You can fill in the shipping information but refrain from clicking the buy button.
“If you leave the online store and wait for a day or two, you usually receive an email with a discount code within a few days,” Haofei says.
The likelihood of receiving a discount is higher if you haven’t made a purchase from that store using the email before.
Knowing when discounts are available is crucial. The timing of discount promotions differs for online and offline stores.
Liliana Talfoya, Sales Vice President of Smart Blanks, told The Epoch Times, “When shopping online, pay attention to discounts on Tuesdays or Wednesdays as these days are often quieter. For physical stores, focus on promotions over the weekends and major events like Black Friday.”
Talfoya explains that discount events are not random but strategically planned by businesses months in advance. Factors considered include wholesale costs, anticipated demand, profit margins, and current inventory levels.
“If you see significant discounts on popular items, it’s likely retailers have overstocked. In such cases, you can truly save money. Additionally, look out for steep discounts on less popular colors or holiday styles to get real bargains,” Talfoya adds.
Discounts at physical stores are typically phased. Talfoya recommends watching out for the second or third waves of holiday promotions to get the best deals.
“First-wave wide discounts aim to attract customers; the second wave targets excess stock companies want to clear out; the third wave occurs around the holidays, where you’ll find even bigger clearance discounts,” says Talfoya.
If you want to have a stress-free holiday and ensure your spending stays within budget, planning is essential. Start planning now to enjoy the holidays to the fullest and avoid feeling frustrated about overspending when the new year rolls around.