Tips For Holiday Giving On a Tight Budget

Posted On December 12, 2016

The holiday season is undoubtedly a fun one. Family getting together, feasts galore, and gift giving with the ones you love. But with so many gifts to purchase, meals to prepare, and things to consider, the holiday season can actually be an expensive and stressful time of year. Being budget-conscious will help you purchase gifts for everyone on your list while staying within budget.

Holiday Season Tips

Look Out For Sales

  • Looking for great sales and browsing the sale rack is not a crime by any means. Many times, the sale section can save you a bundle of money on gifts. With Black Friday and Cyber Monday now behind us, stores are looking to rid their stock of old merchandise in order to make way for a new year in supplies.

Cruise For Savings

  • The internet is a fantastic way to compare prices at various stores so that you can ensure you are getting the best deal possible. Search the same product on at least three different sites in order to determine who is offering the best deal. This strategy could save you a ton of money.

Know Store Policies

  • Many stores offer a price match guarantee. If you purchase a product and then find it discounted at another store, some stores will refund you the difference. It always pays to know your rights as a consumer.

Purchase in Bulk

  • When you can, try and purchase items in bulk or in packages of two or three, ie: a set of candles. Although it may pose a heftier upfront cost, it actually saves you money in the long run. Buying in bulk will offer you substantial savings and allow you to stay within your holiday budget.

Set a Budget

  • During the holidays, people tend to overspend as they don’t want to come off as ‘cheap’. Setting a frugal yet attainable and realistic budget will ensure that everyone gets a little gift without expecting or demanding anything more. Placing a simple $20 cap on everyone in the family will save you quite a bit of money this holiday.

Holiday season is a great opportunity to spend quality time with your family and loved ones. Many families take trips and holidays over the season but this can add up to be a very expensive trip and not everyone has the luxury of money or time to do this. Taking advantage of your own city and creating a mini holiday within it is an economical yet fun way to spend the holidays. Renting bikes, scooters, or game tables such as air hockey, will ensure time together while living happily within your means. Renting bikes is a great way to explore your city without having to go out and purchase a bike for each and every family member. It’s quite hassle-free in that you simply return the bikes when you are finished with your rental.

Planning ahead will be a much-needed stress reliever and creating a checklist of who you purchased for and who still needs tending to, will help you stay organized.

Budget Planning Tips

  1. List out everyone you plan on giving a gift to

  2. Create 2 possible gift ideas for each individual

  3. Add up potential gift amounts (in dollars)

  4. Account for decorations, dinners, drinks, travel, and charitable givings

  5. Add up the amount of all holidays costs including a small portion for contingency to give you an accurate cost of what this holiday season is going to cost you