Shop smart and stretch your gift dollars

Who couldn’t use a little advice to spend less and stretch your dollar further on holiday gifts, especially as Christmas gets nearer? Here are a few tips to get to January stress- and debt-free, some of them courtesy of Kiplinger’s Personal Finance and The Washington Post.

• Don’t let the last-minute gift grab mentality set in. Sit down, think through your list, and cut where you can. The budget web site Mint.com not only helps you organize your bank accounts, but can also help track purchases and set spending limits for gifts, travel and entertaining.
• Set a price limit for each person and write down the gifts you intend to buy before you go shopping – then stick to it, despite all those “good deals” you see when you get to the store. (Remember, most of it will be a fraction of the price after the holidays.) Your best bet? Bring cash and leave the credit and debit cards at home.
• Buying online can save time and money, but time is quickly running out for free holiday shipping deals guaranteed to arrive by Christmas. Know your bank’s debit card policies when buying online, and make sure that you have the necessary safeguards against fraud. (Some have a zero liability policy, like most credit cards.)
• When buying online, go to Google first and search for coupons. Type in the store or business, plus keywords such as coupon, coupon code and discount, which will take you to various sites (like RetailMeNot.com) that compile coupon codes. Enter the code when you check out. In the event it doesn’t work, try another. Savvy shoppers almost always get percentages off their purchases and free shipping this way.
• Go through a service such as BigCrumbs.com to earn cash back on your purchases. Sign up at the site, then go there first before making any online purchase – even purchases on eBay. The cash back bonuses are made via a PayPal account.
• eBay, by the way, is a place to save on toys, games and other goodies. Search for items that are NIB (new in box) and look for Buy It Now items to avoid waiting for an auction to end. Make sure you know upfront what the shipping costs and terms are. Buyer beware when purchasing electronics and high-end goods — there are deals, but do your research on the product and the seller first. One way to do this is to check the seller’s feedback before bidding.
• If your family is planning a name exchange rather than buying for everyone, a web site called Elfster.com can help everyone stay organized and make their “wish list” known. Be sure to set a spending limit.
• Give a thoughtful gift and get a tax deduction. Kiplinger’s recommends the Good Card (from Network for Good), a prepaid card that allows recipients to choose from 1.8 million charities. It costs $5 on top of the donation amount.
• Consider trading in gadgets, like your old cell phone, that you no longer need on Gazelle.com to earn a little cash. You’ll get money back via check, PayPal or Amazon.com gift card.

What do you do to save during the holidays? Please share your ideas on spending less and thrifty giving.

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