Stick to your holiday budget this year with these frugal gift-giving tips you can use this holiday season.
The holiday season is coming up and all you can think about is gifts. However, with the economy being the way that it currently is, you’re probably also thinking about buying cheaper gifts. If that ‘s the case, it’s understandable. The good news? There are some simple ways that you can easily save money this holiday season.
How much should you budget for a gift?
This is actually up to you. Only you know what your household budget is, so you need to take that into consideration before buying a present. Just keep in mind that whatever budget you set, you need to keep it the same for each and every person.
Having one budget for buying gifts versus multiple budgets for multiple people is a simple way to keep track of what you’re spending.
What is a reasonable budget for Christmas?
Typically, households that make an income of around $50,000 for the year, tend to spend around $800 or so on Christmas. Does that make it a reasonable budget? That’s up to the person and the budget that they’ve sat for themselves.
I think that a reasonable budget for Christmas or the holiday season is one that doesn’t put you in a financial crisis or burden.
The moment that you’re fretting over the amount of money that you’ve spent for the holidays is the moment that you know you’ve blown your budget.
How does someone even have a frugal Christmas?
It really comes down to the mindset of the person. Having a cheap Christmas isn’t something to be afraid or ashamed of, but it actually does take a little bit more work than just buying everyone everything that they want.
There is a bit of planning involved and you’ll have to think outside of the box on ways to make your first frugal Christmas happen. This is why the following tips are going to be a big help in saving you money this holiday season!
Here are some great frugal gift-giving tips that won’t leave a hole in your wallet.
Frugal gift-giving tips:
Save money by giving handmade gifts
For the past two years, I have knitted and crocheted scarves and given them as gifts. Needless to say, all of the people I gave scarves to loved them. They didn’t care that I only spent less than $10. What mattered was that they knew that it took time and patience and a whole lot of love to make something and give it to somebody else.
Even if you don’t know how to knit or crochet (and you don’t want to learn how) you can still make things that will please people. For instance, if you’re handy with tools, you might think about making simple furniture.
If building furniture is out of the question, you can make different types of sugar scrubs or even bath bombs.
Here are a few tutorials I’ve done:
Frugal gift-giving tip: Books
Books seem like juvenile gifts, but they can be appreciated if they are useful. You want to try to avoid giving books that are not related to that person’s tastes or interests. This makes the book seem more personalized. For instance, if you know that the person you want to give a gift to likes to bake or cook, a cookbook or a recipe book are great gift ideas for that person. If you know someone who wants to learn how to play the guitar, then purchasing books related to that topic would be useful. The best thing about books is that you know these gifts will last. People who appreciate the value of books (and the amount of thought you have put into choosing a good book) will keep these gifts for years.
Here are a few of my favorite books:
Give the gift of small electronics and related items
Small electronics always make good gifts. At the same time, DVD’s and CD’s also make great gifts. Many people now have iPhones, and giving a gift card for use with iTunes can make you an awesome gift-giver. On the same note, you don’t want to give electronics that require purchasing something else so that you can use it to its full potential.
Frugal gift-giving tip: Household Goods
Any person who owns a place of his or her own will appreciate household items as gifts. This includes linen, cookware, bakeware, vases, dinnerware, etc. These make great gifts because they are relatively cheap and they’re usually on sale or clearance. The best part is that if you buy the right kind of household item it won’t end up in the back of the closet or the pantry.
So, even if it is a cheaper alternative, always think about what kind of gift you are giving and to whom you are giving the gift. Your family or friend will thank you for your kind thoughts, and your wallet will thank you for keeping it full!
I hope that the frugal gift-giving tips that I shared with you will help you save money this holiday season.
Thank you so much for stopping by. Have an amazing day.