Tips for saving on last-second shopping

Christmas Eve is Wednesday, but many Americans still haven't finished their holiday shopping. Trae Bodge, senior editor for Retail Me Not, joined CBSN with some last-minute shopping tips.

Bodge said that 43 percent of people who have not yet purchased a gift for someone on their list simply don't know what to buy. Gift cards are some of the safest bets for the last-minute shopper.

"They've lost their stigma through the recession so it's actually okay to give a gift card," Bodge said. "It gives someone permission to do a little bit of selfish shopping, and then you're not taking a risk that you're going to buy something for them that they may not like."

Plus, gift cards do not expire, there are no fees and there are some websites that offer gift card trade-ins if the recipient is not interested in a certain store.

Bodge also said that in-store discounts might not be the lowest prices on certain items. She advised using a price comparison tool like Red Laser or PriceGrabber and look at coupon sites.

"See if you can find a way to save 10, 20, 30 percent off and then you're saving even more and you didn't even expect to," Bodge said.

A few weeks after the holidays are also great times to find deals. "Think about pre-Super Bowl. Think about furniture, maybe your La-Z-Boy or a new flat screen TV, those items tend to go on sale in the month of January," Bodge said.