Holiday shopping can put a serious dent in your finances as a female entrepreneur if you don’t plan carefully. According to Nerd Wallet, most Canadian shoppers are planning to spend around $675. Meanwhile, American consumers are planning to spend around $1,455. Many people haven’t finished paying for last year’s holiday expenses, and they will be spending even more this year.
That’s a good chunk of money, especially considering inflation and current economic circumstances. If you are looking for some ways to restrict your spending this year, here are four shopping tips to help you stay frugal, without becoming a Scrooge.
1. Make a Budget and Plan Ahead
Don’t make spur-of-the-moment gifting decisions or purchases. Start by setting a firm spending budget, and allocate it accordingly. Some financial advisors recommend spending up to 1 or 1.5% of your annual salary on holiday expenses.
That’s a maximum limit only, not something to aim for. Figure out how much you can afford to spend, then cut it by a quarter or even a half. If you have debts, subtract those payments from your budget.
Once you have a budget, make a list of everyone you plan to shop for and then rank them. If you can’t afford to shop for everyone on it, cut out the people at the bottom of the list or find less expensive gifts.
2. Shop Small, Local, and Niche
For many small and micro-businesses, the holiday season is an opportunity to make serious sales, grab attention, and attract new clients. It’s the perfect opportunity to find great deals on interesting items.
Look into niche and local business platforms. Check tags like woman-owned, artisan, indigenous, hand-crafted, local, eco-friendly, boutique, female entrepreneur, indie, and anything else you can think of.
Here are a few sites to get you started:
3. Send High-End Greeting Cards and Stationery
Not everyone has to get a gift. Greeting cards are thrifty and socially appropriate adult holiday gifts. This will almost always be a more economical option. Luxury stationery costs anywhere from $3 to over $25 and can be purchased in bulk.
Think of who you can scratch off the gift list, in favor of sending a tasteful card or note on luxury paper. A 3D card with a thoughtful message will certainly make an impact. As will a plantable holiday card made from post-consumer waste.
Photo and personalized stationery are other options. FineStationery.com has personalized greeting cards, starting at just a few dollars each. Putti.ca sells boxes of fine greeting cards, with beautiful art and classically thick paper.
Costco Photo Center has great deals on personalized photo gifts with premium cards available for $16.49 for 25 in the US or $18.99 for 50 in Canada. And Minted.com offers luxury photo greeting cards on sustainable, recycled paper.
4. Scout Deal-Saving Apps and Websites
Avid communities of deal-spotters and bargain hunters have given rise to deal-saving apps and websites. Look around a few before shopping.
- Flipp: collects flyers and coupons for online and in-person shopping
- RetailMeNot: scouts for online deals and coupons
- Ibotta: finds cashback deals in-store and online
- CouponCabin: finds online coupon codes and offers printable coupons for local shopping
- Brad’s Deals: offers exclusive and expert-picked retail deals
- The Krazy Coupon Lady: offers online coupon codes and printable coupons for major retailers
Tis the Season for Saving
Don’t overspend this holiday season. Plan ahead, be smart, and shop around. Try to slim down your shopping budget and put more into savings, even if you can afford to spend.
This is a good time to be a little more prudent and cautious with your expenses. Especially as a female entrepreneur, who has a lot resting on her shoulders. You can find thoughtful ways to show appreciation and send well-wishes, even while staying frugal. Happy holidays!
Ways to work together:
- Media Pitching: Work with our team at Pink Pearl PR to pitch your product to major magazines, influencers, and high-profile publications.
- Digital Marketing: Work with our team to develop your search engine optimization (SEO) strategy, or manage your Google ads. Ask us about our unique PR for SEO strategy for female entrepreneurs!
- One-On-One: Work with Talia to create your signature offer and get media ready. Book our PR Power hour sessions.
- Coaching and Courses: The Public Relations Academy will help you create your own PR strategy with our guidance.
If you are interested in working on your publicity strategy with my guidance and our guest experts from Canadian Women in Public Relations and American Women in Public Relations, I encourage you to join the Public Relations Academy. If you would like to work with me personally to grow your personal brand as a female executive or entrepreneur, you can work with me at Pink Pearl PR. Book a call to see if we’re a good fit.