Top 5 Tips For Saving Money On Christmas Gifts
1) Set A Budget, And Stick To It
The first step is to make a list of every single person that you need to buy a gift for. Then calculate the total amount of money that you are prepared to spend on gift giving this Christmas, and work backwards from there to assign a target gift spend to each person on the list. You’ll want to make sure to do this individually, since you’re likely planning to spend more on your spouse or kids than you would on a co-worker. Keep the list visible when shopping – having it in your hand makes it less likely that you’ll splurge on big ticket items. If you find a great gift that’s over budget, don’t buy it. If you find a great Christmas gift thats under budget, congratulate yourself, but don’t spend the money you’ve saved by going over budget on another gift. Remember that the goal is to actually save money!
2) Do Your Homework
Even if you’re clueless about what to shop for, start online. Sites like Gifts.com specialize in helping you with great gift ideas for everyone on your list. Once you know what you’re shopping for, use your favorite search engine to help you find the best online deal. When deciding whether to buy online or in the store, make sure to factor in shipping and handling costs. Try searching for retailer-specific coupons, promo codes, or upcoming sales in order to get the biggest bang for your buck. Then call your local store to find out how their price compares before you make the trip.
3) Shop Early
The stress of holiday shopping is one of the biggest threats to your budget. If you find yourself at the malls on Christmas eve, desperately seeking last minute Christmas gifts for the whole family, you are guaranteed to overspend. Speaking of early, if you’re headed to a major discount retailer, consider going early in the morning on a weekday. Most stores will replenish their stock before after closing, and avoiding the crowds and long lines will mean that you’re calm and collected enough to make financially sensible purchases.
4) Consider Re-Gifting
If you have to come up with generic Christmas gifts for neighbors, co-workers, or acquaintances, start by shopping your own closets. You likely already own something that would make a fabulous and free gift. Items to look for include candles, scarves or gloves, home fragrances and decor, or bath products. As long as its new un-opened, it’s a candidate for re-gifting. Trust me, they’ll never know.
5) Can You Make It For Less?
No, of course you can’t build a homemade XBOX 360 for the kids. But there are plenty of great gifts that you can make yourself, and save a bundle doing so. Swing by your local crafts store and see what catches your eye. Photo gifts are also a thoughtful way to stretch your budget. For only a few bucks worth of glossy paper, you can make a photo collage that Grandma will cherish forever. Your Secret Santa at the office would also probably enjoy some homemade Christmas cookies more than another generic paperweight or calendar.
