After-Christmas sales can provide a great opportunity to stock up on wrapping paper and other Christmas basics. At many stores you'll get a 50 percent off discount today and through the weekend, but by the end of next week, most stores will be discounting most holiday items by 75 percent. Within about two weeks, the discounts can grow to 90 percent. The downside is that by then, not much will be left. You may want to buy what you know you'll need for next year now, when it's half off, especially if there are limited quantities. But waiting can pay off. I always check in at several stores every few days after the holidays. Last year we wanted some lawn decorations. We checked in every few days at one store and bought several normally expensive items the day they finally were discounted by 90 percent. On a $100 item, we paid only $10. We even got a $200 snow globe for $20. While you're out shopping, keep a look out for generic gifts that are often discounted along with holiday-related merchandise - candles and candle holders, toys and linen, for example - that can be stored away when you unexpectedly need a gift.