As the holiday season rapidly approaches, it is important to take time to strategize and determine how you’d like to tackle gift-giving. The holidays are meant to be about spending time with loved ones, whether it’s virtually, or carefully in person.
This means that it’s important to reduce the stress of spending money on getting the perfect presents , so you can focus more on other aspects of the holidays that could matter more to you and your family.
If you want to reduce some of that money-related stress that can come with gift-giving, then the advice in this article is for you! Follow these tips, and you’ll be able to save some dough this holiday season.
Craft a Financial Gameplan
Any time you are planning to spend a good sum of money, developing a budget should always be your first step. Creating one is fairly simple and shouldn’t be too time consuming if you go about the process the correct way. An easy way to begin is by determining who you’d like to buy for and how much you’d like to spend on them. Then simply total that up and start saving the proper amount for each person.
After creating your list and determining your total spending allowance, another great idea is to create a separate banking option with no hidden fees. This way you aren’t losing any money during the process of shopping. You can then start depositing a small amount into this account weekly. Having a separate spending account for gift-giving expenses will not only help you stick to your budget, but can eliminate your chances of using a credit card. While swiping a credit card isn’t always a bad thing, it can become very easy to start buying on an impulse without realizing how much money you are actually spending. Don’t be afraid to limit your gift list and to scale down on your purchases. After all, the holidays are about thoughtfulness, not the price tag that is attached.
Shop Early and Watch for Sales
Throughout the holiday season, stores are bound to release discounts for early shoppers. Just like budgeting, create a plan ahead of time with a specific day you’d like to complete your holiday shopping by. This can be as simple as making a list of what stores you’d like to purchase from and what gifts you need to buy from each.
With your list, start researching and check for available deals that you can take advantage of online or in-store. A quick google search can lead you to plenty of online coupons that could save you a lot of money in the long run. Make sure to utilize special shopping days like, Black Friday, Small Business Saturday and Cyber Monday to buy expensive items at a more affordable price. This will help you find the best deals so you can get the most out of your savings.
Upcycle and DIY
Spending some time and energy creating the perfect DIY gift for a loved one, is a great way to save some money. This can be a great way to give someone a gift that’s truly thoughtful, and many times the best presents are the ones that someone has put their time and energy into creating. While there’s nothing wrong with a store bought gift, if you’ve got the creative skills, your friends and family will definitely be happy with a DIY gift!
Upcycling is another easy way to save some money. Many people spend a good chunk of their budget on wrapping supplies, like gift bags and wrapping paper. Instead of splurging on the one part of the gift that will end up in the trash, you can not only save some money, but you can also help save the planet by wrapping gifts with reusable items. Making use of things like paper grocery bags or old newspapers to wrap your presents can give your gifts a different look and save you some money in the long run.
This year, take the stress out of gift-giving by taking the right steps such as setting up a budget, planning out your shopping trips and even crafting some of your own gifts.