14 Money-Saving Tips That Can Make a Huge Difference to Your Wallet

’Tis the season for … spending, or so it seems, as we look ahead to the end-of-year holidays and start shelling out money left and right for decorations, presents, food, and on and on. This year will be especially tough on budgets, with credit card debt at record levels as shoppers try to keep up with stubbornly high prices on just about everything.

To keep more of your money in your pocket, follow these money-saving tips. Starting some good habits now can take you into the new year without the holiday-spending hangover and give you a head start on your New Year’s resolutions.

Read on for 14 of the best money-saving do’s and don’ts that will help you stay within your budget.

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Clean up during seasonal sales

Companies know we’re shopping a lot at the end of the year, so they’re all trying to lure us to shop their stores and sites. You can find a lot of good deals, but you’ll want to start with a plan. Black Friday, which occurs on the Friday after Thanksgiving, isn’t the only bargain-shopping day around anymore, but it is when lots of brands start to get serious about moving their holiday stock.

Fortunately, you no longer have to wake before dawn and queue up in front of the store to score the best deals. You’ll also find sales leading up to Black Friday and continuing through what’s now called Cyber Week. Other days to save include Free Shipping Day, the final day before Christmas to get free shipping at many retailers (Dec. 14), and Super Saturday, aka Panic Saturday, aka the Saturday before Christmas Eve (Dec. 21).

Pro tip: Make a list, including models and features you want. Keep in mind that on Black Friday, the models on sale might not have all the features you want, so determine which are important to you.

Don’t be blinded by big markdowns

Just because the sign on the rack says “50% off” doesn’t mean it’s a bargain. Verify that it’s actually a good deal by checking prices online. Visit the retailer’s website, then compare on Google Shopping, Amazon, Walmart and eBay. If you find a lower price, ask at the ­register for a price match or load up your virtual cart. Some stores will match their online prices and the prices of selected competitors.

Pro tip: A quick way to find the same product online so you can compare prices is to use the visual search feature on Google, Amazon, eBay and other sites. For example, say you’re jonesing for an unusual plant that you spot at a friend’s house: To track it down, take a picture of it using the app’s camera (usually in or near the search bar).

Follow your favorites

Download retailer apps, sign up for their email alerts and follow them on social media to see how you can save. Most major retailers have their own special deal days during the holidays and throughout the year, such as Amazon Prime Days, Nordstrom’s Anniversary Sale and Macy’s One Day sales. Also, if you haven’t already signed up for store loyalty programs, consider doing it now. You can often get special discounts and coupons. Some stores give out store credits that can really add up; examples include Kohl’s Cash and Macy’s Star Money.

Pro tip: Set up a separate email account (and don’t give out your mobile phone number) to avoid spam, and read the fine print if you download an app so you understand how it uses your private data. A report earlier this year from online security company NordVPN found that mobile apps collect all kinds of personal info, including your location, and they may even sell it without your ­permission.

Don’t be swayed by store credit card perks

Yes, you can get generous sign-up bonuses and discounts when you sign up for a store credit card, but they come with hefty interest rates. Macy’s store card, for example, offers free shipping and up to $100 off after sign-up, among other perks, but it charges a crazy high 34.49% APR. Nordstrom’s card gives you a $40 credit at sign-up, but its APR tops out at 31.15%. The average store card now charges a record 28.93%, according to Bankrate. By comparison, the average credit card APR is about 21%.

Pro tip: If you are a very frequent shopper and you don’t plan on carrying a balance, store cards can pay off.

Consider joining a membership program

You probably have a rewards card for your local supermarket. Programs from Amazon, Target, Walmart and others can get you more than discounts and rewards. Amazon recently launched an unlimited grocery delivery program for orders over $35. Prime members pay an additional $9.99 a month on top of Prime’s $139 annual fee, which might be worth it if you regularly shop online at Amazon Fresh or Whole Foods (which Amazon owns) or if your local supermarket is on the provider list.

If you buy most of your groceries, household items and gifts online at Walmart or Target, you can save on delivery fees by signing up for Walmart+ and Target Circle 360, each of which costs about $100 a year. Both include free delivery with a $35 minimum order. Otherwise, you’ll pay delivery fees of $7.95 to $9.95 per order to Walmart and $9.99 to Target.

Membership also gets you fast, free deliveries on other eligible orders with no minimums, plus other perks.

Pro tip: Join for the shopping perks, stay for the streaming. A Prime membership gets you free music, movies and TV shows on Amazon Prime; Walmart+ includes free shows on Paramount+.

Don’t fall for fake reviews

Review fraud is rampant, and it could get a lot harder to spot fraudulent user reviews, thanks to the growing use of artificial intelligence, according to the Federal Trade Commission (FTC). The risk is that fake raves could steer you toward shoddy products, counterfeits and shifty vendors. Two tools that can help you shop smarter with user reviews are Fakespot and ReviewMeta, which rate product ratings. The easiest way to take advantage of Fakespot is to download it on your computer as a browser extension; it works with Amazon and many other sites. ReviewMeta works only with Amazon; to check reviews, cut and paste the URL of the product page into the site. Both sites also tease out trustworthy comments to help you find relevant and insightful product info.

When I checked reviews for a book light that I recently bought on Amazon, for example, Fakespot showed me helpful remarks like “compact and easy to use” and “the amber light mode is fantastic.” And it gave Amazon’s product user reviews an A grade, the highest score, meaning I could trust its 4.5-star rating.

Pro tip: For trustworthy product performance and reliability ratings, check long-standing consumer testing programs such as Consumer Reports and Wirecutter. Also know that RD.com product roundups are backed by testing.

Buy low

Price trackers help you time your purchases so you can pounce when prices hit rock bottom or close to it. At the very least, these tools can give you pricing info so you’ll know a good deal when you see it. Prices can be particularly volatile during the holiday shopping season, so now is a good time to start checking.

If you’re an Amazon shopper, two price trackers you’ve got to try are the CamelCamelCamel website and the BigBangPrice app. To check prices on CamelCamelCamel, copy the URL of the Amazon product page and paste it into the CamelCamelCamel search bar for detailed price histories; you can also set up email alerts to be notified when prices drop. The BigBangPrice app also provides price histories and will even tell you whether now is a good time to buy. For example, when I looked up a fountain pen, the app alerted me that it was selling for $11.49 less than its average price of $29.98 and advised me to “buy it now.”

Another great price tracker that sends out price-drop alerts is the Honey browser extension’s DropList feature, which works at Amazon, Macy’s, Target, Walmart and other shopping sites. Install Honey at joinhoney.com.

Pro tip: Keep tracking prices even after you’ve made your purchase—you might be eligible for money back if the price drops. Policies vary by retailer (at Macy’s, for example, you have 10 days to make the request; Kohl’s gives you 14 days). Also keep in mind that policies might be different or suspended during the holiday shopping season.

Don’t get burned by return-policy gotchas

During the holidays, the time limits for returns are often extended, but if you haven’t looked at the fine print on retailer websites lately, you might be
in for a surprise. Some retailers are add­ing fees and tightening deadlines. For example, Macy’s added a $9.99 ­shipping fee for shoppers who are not members of its Star Rewards loyalty program, and Staples shortened its holiday return policy last year by nine days, according to a Consumer World report.

Pro tip: Read carefully when buying from Amazon or other big websites because many items are from third-party vendors that may have more restrictive terms than the sites where they are selling their goods. When buying clearance items, make sure you notice whether they’re marked “final sale.”

Go for pre-owned

Buying like-new electronics, appliances, books, clothing and many other products is a great way to save money and can help save the planet by reducing waste. To make sure you’re getting mint condition, look for certified refurbished products with a warranty on major retail websites such as Best Buy, Amazon, Walmart, eBay and Apple. Think twice about buying from third-party sellers on these sites and other no-name retailers—and steer clear of products that are not certified. The savings can be huge: Amazon, for example, was recently selling a refurbished Amazon Fire tablet for as little as $89.99, while new models were $139.99.

Pro tip: Besides these retailers known for electronics, many major retailers now sell used items on their websites. These include REI, Eileen Fisher and Levi’s. Even Saks Fifth Avenue is getting into the act with pre-owned designer bags. For books, it’s tough to beat sites like Alibris, AbeBooks and ThriftBooks. They are deal gold mines—I found plenty of hardcover editions of Where the Crawdads Sing in “very good” condition for under $5 at ThriftBooks. Just be sure to check the shipping fees.

Popular for used clothing, shoes and accessories, Poshmark and ThredUp can be one-stop shopping destinations for thrifters.

Don’t trust ads on
social media

The FTC re­­ported that these sites are increasingly where “scammers go to con us.” Ads may impersonate legit retailers or include bogus descriptions. That’s how one of my friends fell in love with a dress she saw in a tempting Instagram ad but ended up with a cheap-looking, child-sized nightgown.

If you see something you want to buy in a post, check to make sure the company has a website with contact information, a physical address and a return policy. Also, search for reviews and complaints online (search the name of the retailer plus the word complaint) and check the Better Business Bureau at BBB.org.

Pro tip: Always pay with a credit card, which lets you dispute charges and get money back if you run into problems with a seller. Consider it a red flag if an online retailer requires payment with gift cards, money transfers or cryptocurrency.

Automate your savings

If you haven’t already downloaded browser extensions like BeFrugal, Honey, RetailMeNot’s Deal Finder and Rakuten on your computer, now is a smart time. They automatically apply coupons and cash back of up to 10%
or more to your online order when you’re checking out. BeFrugal, Honey, Rakuten and RetailMeNot also offer apps that can score you coupons and cash back online, and when you’re out and about in stores and restaurants. Plus, check their websites for lists of juicy promo codes and cash-back deals. RetailMeNot, for example, was offering 20% off pet supplies at Chewy plus 5% cash back this past summer.

Pro tip: For groceries, check out Ibotta, Fetch and Checkout51. For these apps, you submit pictures of your receipts, then get cash back.

Don’t put off those payments

“Buy now, pay later” (BNPL) options from companies like Affirm, Afterpay and Klarna are a modern take on the old layaway programs. You can pay in installments over weeks or months, and you don’t have to wait to get your goodies. But there’s a big downside: If you’re struggling with debt, BNPL payments can dig your hole deeper. Credit rating agencies are starting to collect BNPL information. So if you miss payments, that can end up lowering your credit score and raising your interest rates on mortgages and car loans.

Pro tip: If you choose to try BNPL, set up automatic payments, if payments aren’t already deducted automatically. Pay attention to new rules that will allow BNPL customers to dispute charges and get refunds, so you know your rights. (These protections weren’t offered before, making these programs less consumer-friendly than credit cards, which come with such protections.)

Look for hidden
outlet deals

If you love bargains, you probably head straight for the sale racks when you go to a store and shop at outlet centers. When shopping online, clearance and outlet deals can be trickier to find since they may not turn up in the results of a basic search. Also, retailers don’t always advertise them. One example is Coach, which has a separate outlet site. Amazon also has an outlet section that is pretty well hidden.

Pro tip: To quickly find the online outlets of your favorite brands and stores, search the name plus the word outlet. Like physical outlets, online versions sell open-box, past-season and overstock items. For example, I found loads of great bags at coachoutlet.com for as much as 60% off—but as we all know, styles often change with the seasons. Be sure to stock up when you find great deals because they may be discontinued or past-season merchandise—and once they’re gone, they might never come back!

Don’t waste money on unneeded warranties

Amazon, Best Buy, Target, Walmart and other retailers offer extended warranties as purchase add-ons for even cheap stuff like $40 coffee makers. The cost for these policies can range from a few bucks to thousands of dollars for big-ticket purchases such as cars. But many products already come with a manufacturer’s warranty; plus, you might be able to get additional coverage as a free perk by paying with a credit card, according to the Better Business Bureau. (Call your card issuer or check online for information.) You might also be able to get free coverage by shopping at Costco, which offers extended warranties on TVs, computers and some major appliances.

Pro tip: If you’re concerned about a product breaking down after you buy it, set aside some money in a bank account for emergency repairs instead of shelling out for extended warranties. That way, you can skip the annoying paperwork and any loopholes hidden in policy fine print.

Why trust us

At Reader’s Digest, we’re committed to producing high-quality content by writers with expertise and experience in their field in consultation with relevant, qualified experts. We rely on reputable primary sources, including government and professional organizations and academic institutions as well as our writers’ personal experiences where appropriate. We verify all facts and data, back them with credible sourcing and revisit them over time to ensure they remain accurate and up to date. Read more about our team, our contributors and our editorial policies.

Sources

• Federal Reserve Bank of Kansas: “Consumer Debt Is High, but Consumers Seem to Have Room to Run”
• Lifewire: “Free Shipping Day 2024: What You Need to Know”
• NordVPN: “License to spy: Most apps ask for more data than they need”
• Fox59: “Shopping apps that share the most user data”
• Consumer World: “2023 Return Policy Survey: Some Rules More Strict or Costly”
• Federal Trade Commission: “Extended Warranties and Service Contracts”
• Better Business Bureau: “BBB Tip: Should you buy that extended warranty?”

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