How to Save Money on Christmas Gifts

How to Save Money on Christmas Gifts

Overspending is a natural element of the holidays. You can make a difference this year though and focus on saving money on Christmas gifts instead of mindless shopping! If you carefully plan and budget, it is possible to get something special for everyone on your list without going to debt or clearing your bank account. Check out the five tips below and prepare for Christmas with cheer and money smarts today.

1. Create a Christmas budget.

Budgeting may not seem like a lot of fun, especially for Christmas, but it will help you welcome the new year with more money in your bank account! You can even build-up to this by putting away money for gifts in the months leading up to the holidays. Decide how much you want to spend in total and per gift; then stick to it! Be realistic though. Consider expectations set by family members and social situations when making up your budget. It also helps to meet it if you shop for sales and shop early.

2. Write your gift list in advance.

Imagine you are Santa Claus and have your Nice checklist as soon as possible. This makes it easier to take advantage of the big holiday sales weekends, too. Just remember to keep a list of what you have gotten for whom and what you still need to buy. Planning ahead will simplify the process and give you more time in finding the perfect present.

3. Buy extra Christmas gifts.

A few generic gifts purchased in advance will have you ready for the last-minute parties or get-togethers that seem to come around a lot during the holidays. Rushing to buy something unexpected usually throws off your Christmas budget and stocking up in advance keeps you on track.

4. Encourage gift exchanges.

Not only will this save your budget, but it also creates a sense of community. Everyone gathers together and gives and receives together. The people in your life will appreciate it too because they only need to buy a present for one person. This allows everyone to buy a nicer gift for one, rather than several less meaningful gifts.

5. Give to someone who truly needs it.

Charity makes a big difference in your shopping experience. Support charities near you or give to local non-profits. You can also get your family and friends behind your cause. Encourage them to give gifts to those in need instead of each other. It is an awesome way to get into the holiday spirit and do something that truly makes an impact.

Ian Schindler