5 tips to save money buying Christmas gifts
Christmas giving can be expensive. Here are 5 tips to save money Christmas gift buying this year
Reduce gift giving
Buying gifts for everyone in the family and extended family can add up.
If the amount you or your family tends to give as a gift is high, this can add up.
Have a conversation with your family - there might be a few people who would welcome a re-evaluation of Christmas gift buying.
Options to reduce gift giving include could include things like:
lower cost gifts
Secret Santa so you only buy gifts for one person
buying only for children or immediate family
having a home-made gift challenge
making a low-cost gift, such as a photo book, DYI calendar
declaring you are a minimalist and you don’t want any presents and won’t be giving any presents.
2. Work out gift ideas before shopping
I find without thinking about who I am buying for and the types of things they like, Christmas shopping becomes a wandering aimlessly around stores exercise.
The risk with this is that in desperation we buy a gift that might be a little outside our price range just to get it done.
Grab a piece of paper write down in one column who you need to buy a gift for and on the other side brainstorm gifts they might like.
3. Start early so you can shop the sales and save
Shop the sales for Christmas gifts. Black Friday and Thanksgiving sales provide an opportunity to buy Christmas gifts at a discounted price.
5 tips to save money buying Christmas gifts.
4. Set a budget that is lower than last years
While everything might have gone up in price it doesn’t mean your Christmas gift buying budget needs to. Having a specific budget that is lower than last years can save money. It means you have to get create around what you will buy for the people on your list.
Things that might help get your gift giving under budget are:
buying a lower cost present to those you know won’t mind. [Does Mum and Dad really need more stuff?]
Coupon cutting, shopping sales (as noted above) or searching for online discount codes (good for buying things like magazine subscriptions)
Use cash and shop for a certain number of presents at a time. Nothing like old fashion cash to limit over-zealous spending.
Many people spend so much on Christmas they are paying it back in the first quarter of the year.
Set a realistic budget recognizing your circumstances.
5. Don’t worry about meeting expectations
Sometimes our gift giving is more about meeting expectations than about Christmas.
If money is tight don’t put yourself into debt to meet someone else’s expectations. Accept they might not be happy or have a chat to them.
Christmas gift giving shouldn’t be about feeling guilt, shame or burdens.
Start early, plan and watch your spending
Spending less this Christmas is about starting early, having a plan and budget for what you are getting people, and perhaps having some conversations about a lower cost Christmas gift approach.
