SALT LAKE CITY (KUTV) — With holiday shopping officially underway, experts are giving tips on how to save money and avoid impulse purchases.
Creating a plan and budget is a crucial step to holiday shopping, according to WalletHub Analyst Chip Lupo. This can help shoppers avoid making purchases on impulse alone.
“Avoid impulse buying,” said Lupo. “One impulse buy can wreck your entire budget.”
Lupo said to instead go into the process with a priced-out game plan. He suggested making a list of what you are looking for.
“It doesn’t have to be pinpointed, just have a general list,” he said.
Eye On Your Money. (Graphic: KUTV)
Morgan Eggleston spoke with KUTV about scouting out a few items at Walmart for her two-year-old. She said it was her daughter’s birthday last month, so budgeting for Christmas is key.
“We have to be super careful with how much we spend on it,” Eggleston added.
General manager of the West Valley/Kearns Walmart, Carmen Barber, said holiday shopping trends are always changing and adapting. For example, spreading out Black Friday deals is something that helps customers beyond the one-day tradition.
“It makes it easier and more convenient for our customers,” Barber said. “There’s not that hassle of waking up early, standing in a line, those types of traditional things.”
Barber said Walmart is working to keep items more affordable, despite the rise in economic costs and inflation.
“Walmart works really hard with these suppliers developing those relationships and negotiating our prices to keep stuff lower,” Barber said.
Choosing experiences over gifts is another holiday shopping trend.
“We’re seeing a trend toward experiences over gifts,” Lupo said. “That trend is trending upward. Sixty percent of Americans say they would enjoy the holidays more if people didn’t exchange gifts.”
To save money, Lupo suggests smaller, thoughtful handmade gifts. There is also the option to shop online for web-exclusive deals.
Eggleson said for now she’s sticking to in-store purchases.
“It’s fun to go around and look at stuff, but it’s also kind of stressful to make sure I get enough for everyone,” she said.
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