Hanukkah is right around the corner, which means that you’re going to be spending a lot of time with your family. It’s a beautiful time of the year, and one of the best parts is that, on every day of Hanukkah, you can give your kids different gifts. But in addition to spending lots of time with your loved ones, you’re going to be spending a lot of money. It’s inevitable, especially if you have to travel and throw get-togethers. And then there’s the gift-giving itself. You want to get something great for your kids, but spending too much money isn’t feasible, especially if you’re trying to save up for the new year.
Luckily, there are some great strategies you can use to save money on toys this Hanukkah. It’s all about knowing where to buy them at less than you usually would, and understanding your finances well. Here’s how.
1 Make a budget
The first thing you should do is make a budget for the toys you’re thinking of buying and all the costs coming up from now until the new year. Even if you don’t celebrate Christmas, you might want to buy a new dress for the office holiday party that happens right before Christmas break. If you’re traveling at all, or have a goal you want to save for 2019, then that’s something else to add to your budget. And what about that new gym membership so you can feel fabulous for when the clock strikes twelve? It all adds up. By budgeting, you’ll know what you have leftover in the end for gifts.
41 percent of Americans said they used a budget in 2017, so becoming part of that trend means saving lots not only on gifts but in all your spending.
2 Shop at your favorite stores online
If you’ve got a store you love going to for gifts, or if it’s your kids’ favorite, then chances are you’re willing to spend more there. Maybe it’s worth it, so if you’re set on buying toys from there, use the best strategy for saving money: browsing in the store, and then buying the toys online. For one thing, prices will be cheaper online, and you can quickly check on your phone right there and then to see if it’s available on their website. Additionally, there are lots of discount codes you can find (and if you follow them on social media or sign up for a store newsletter, they’ll give you some, too). This will help you get even more bang for your buck.
In 2016, 32.9 percent of spending on average was on housing, and 17 percent on transportation, so you can spend more money on these necessary expenditures than on toys.
3 Shop from ecommerce stores
Another great way to save is by buying toys from stores that are entirely based online. Because they don’t have to pay for actual brick-and-mortar stores, they only spend money on buying merchandise, storing it, and shipping it. So you automatically get a discounted price. Check out sites like Jizels, which sell only toys, to get the best deals. Just like with the above point, sign up for newsletters and check out their social media accounts to find out even more ways to save.
Only 46 percent of Americans have a rainy day fund, so if you’re in the same boat, saving money on gifts can help you out of this situation.
4 Sign up for a deals website
Another great way to save money on gifts is by getting them through a deals website. For example, using a site like Groupon saves you not only on visits to the dentist or the spa but also on lots of popular items, especially trending toys. In the same way that a service like SocialGoneViral helps businesses get new followers on Instagram, being a member of a deals website will help you save money on many of your Hanukkah-related expenses.
Considering that the average American household yearly income is $74,664 before taxes, it can make a huge difference to save with one of these sites.
5 Buy second-hand toys
Finally, it’s always a good idea to buy toys second-hand. It may not seem ideal at first, but there’s no need for your kids to know they’re second-hand. If you buy from the right shops, whether they’re brick-and-mortar or online, they’ll sell you toys in original packaging that haven’t even been used. If you’ve ever bought the wrong toy and had to return it, then you know that there are lots of toys out there that kids want that are actually in good condition.
In the third quarter of 2018, consumer spending made up 68 percent of the US economy, so if you’re feeling a bit stressed about spending, that may be why. Luckily, this is a great way to save.
These are some of the best ways to save money on toys this Hanukkah, which means that you can still get great gifts without having to sacrifice your budget. How else do you save money on Hanukkah gifts?