Stressed Out Over Holiday Shopping? 5 Ways to Make It Easier and More Affordable

A few simple moves could take some of that pressure off.

Some people truly enjoy the experience of shopping for the holidays. But if you don't happen to be one of them, worry not -- you're in good company.

In a recent survey by Bank of America, 56% of people said they experience financial stress during the holidays. And given that many people are already experiencing financial worries due to rampant inflation, that's especially understandable this year.

If the idea of making holiday purchases is stressing you out, here are five essential steps to take.

1. Stick to a budget

The danger in overspending on the holidays is ending up with a large pile of credit card debt. That's hardly a great way to close out the year. If you put yourself on a budget before you begin your holiday shopping, you'll be less likely to wind up in debt. So take a look at your savings and checking account and see how much money you can afford to part with before buying gifts. That will help you allocate your limited resources more efficiently.

2. Get started early

The more time you give yourself to shop for the holidays, the less pressured you'll feel to make purchases you're not sure you can swing. You may want to begin your shopping in late November rather than wait for December. Doing so might also allow you to capitalize on sales events like Black Friday, Small Business Saturday, and Cyber Monday.

3. Compare prices across retailers

It's common for competing retailers to carry the same items -- and offer varying prices for them. Take a little time to compare prices rather than rush to scoop up items the moment you notice they've gone on sale. You might find a gadget your spouse wants marked down from $60 to $50 at one store. But a little research might tell you that another store has it marked down to $40.

4. Use the right credit cards

Some credit cards offer a nice amount of cash back at department stores and big-box retailers -- either during the holidays or year-round. It pays to whip out those cards when making your holiday purchases. The more cash back you score, the more you can offset your costs.

5. Whittle down your gift list

You may have 20 different people in your life you'd really like to buy holiday gifts for. But if you can't afford to do that, you'll have to make some cuts.

That said, you don't necessarily have to shrink your gift list from 20 to 12 and give those remaining eight people nothing at all. Instead, you can find low-cost token gifts that show them you're thinking of them, like books or chocolates. You can even try your hand at homemade gifts, like scarves you knit yourself or cookies you bake at home.3

Shopping for the holidays can certainly be stressful -- but it doesn't have to be. Take these steps to ease the financial burden -- not to mention your mental load. Doing so could help you better enjoy the holidays rather than dread them.