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Shop Smart This Holiday Season

It's that time of year when people begin to hit the malls, catalogs and online retailers to shop for the holidays. For some it's an exciting time; for others it's a pain. Regardless of your disposition, there are several tips you can follow to help you get a better deal.

Save money online.

This year, more than half of holiday shoppers are expected to make their purchases online. And that's good, because there are some tricks for saving money. Once you've found the perfect gift online, pause before you click "Buy" and see if there is a place for you to enter a coupon code. If so, that tells you there are extra discounts available. One trick that regularly pays off is to take the phrase used by the merchant, such as "promotional code" or "discount coupon," and enter that phrase and the name of the merchant into Google to see if there are any discount codes available. You'd be surprised how many results pop up offering significant discounts and free shipping—you just have to dig a little.

Be aware of refund and return policies.

Before making any purchase, consider the retailer's policy on refunds and returns. Can you return the item for a full refund, and if so, how much time will you have to do so? Also, are you responsible for shipping charges on returned items? One way to help ensure you are happy with the answer to these questions is to ask for a gift receipt with the purchase. This ensures the recipient will be able to return the gift for a full refund.

The real deal on shipping.

Be wary of retailers that offer last-minute shipping, especially if they say you'll have the item within 24 to 48 hours. While the Federal Trade Commission protects you if the seller can't make delivery within the stated time (the seller must notify you, and allow you to cancel the order if a shipment cannot be delivered in the time stated), many retailers assume you don't know this information, enticing last-minute buyers with claims that end up falling through.

It may pay to procrastinate.

For those of you organized enough to get your shopping done ahead of time, this may be a little frustrating. However, if you're a last-minute shopper, you may actually be getting the best deal of all. Sure, you'll probably spend more time looking for a parking space and standing in line at the register, but retailers are notorious for slashing prices a day or two before the holiday. If you're low on cash, this may be your best bet for making wallet-friendly purchases.

Holiday shopping can be fun or frustrating (or a little of both). But armed with a few smart shopping tips, you can reduce stress, as well as the amount of debt you carry into the new year.