Cheyenne DeVon -
CNBC
Some people are already shopping for gifts with less than 90 days to go until Christmas.
Half of these people plan to start shopping before Halloween this year, according to a survey conducted by Bankrate in September.
About 38% plan to start shopping in November.
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Although about 12% plan to wait until December to do their holiday shopping, going ahead can give you more time to plan and find the best deals.
“This will allow enough time to look for discounts, set aside money for the shopping list and do some shopping,” Jill Gonzalez, an analyst at WalletHub, tells CNBC Make It.
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"In today's inflationary economy, any discount you can take advantage of will make a difference in your budget," he adds.
And those Christmas discounts also come earlier.
Target is launching its holiday discounts earlier than ever, according to a September announcement.
Target Deal Days will kick off October 6-8, and budget-conscious shoppers can find plenty of discounts online and in-store.
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Additionally, Amazon will be holding an
Early Access Sale
for Prime members on October 11 and 12.
It's the first time the e-commerce giant has held two Prime Day-like sales events in one year.
Although Walmart hasn't announced when exactly its holiday discounts will begin, the retailer plans to "offer thousands more Rollbacks this holiday to provide even deeper savings on the most sought-after gifts, including toys, home, electronics, beauty and more," according to a statement. September press release.
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In 2021, supply chain issues and shipping delays led consumers to start their holiday shopping early over fears of shortages of some of the season's most popular gifts.
In 2022, however, inflation is the main force driving consumers to shop ahead.
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“Holiday shopping will look different this year with inflation hovering around 40-year highs,” says Ted Rossman, principal industry analyst at Bankrate.com.
"Consumers are still spending, but they are being especially thoughtful about where each dollar is going."
In fact, some 84% of those surveyed by Bankrate say they are taking steps to lower the cost of their holiday shopping by taking advantage of coupons and discounts, and buying fewer items.
A Target store in Las Vegas, Nevada. Gabe Ginsberg / SOPA Images/LightRocket via Getty Images
Even before you start spending money, simply starting to plan ahead for purchases can help your budget go further.
“Assuming you get paid twice a month, you probably have seven days of pay left this year.
Setting aside money from each of them will go a long way in avoiding the dreaded Christmas debt hangover in January,” explains Rossman.
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Using a rewards credit card for holiday shopping can also be a smart way to earn points or cash back, as long as you can pay off your balance in full and avoid interest charges, both Rossman and Gonzalez say.
Regardless of when you start, don't wait until the last minute if you're a budget holiday shopper, Gonzalez advises.
“Not only does this ensure you'll take advantage of the best deals, but it will also help you avoid overspending and impulse buying,” says Gonzalez.
