Save Money on Holiday Gifts With These 8 Tips

Simple Buying Solutions to Avoid Going into Debt

Dec 2, 2008

With a few changes in spending patterns, recession weary consumers can still purchase holiday or special event gifts without spending too much money.

Try these 8 cost-cutting tips when shopping for gifts to avoid getting into an economic crunch and and pocket book panic.

Browse Malls But Purchase Online

Tempting as it is to walk into shopping malls, these overcrowded credit card traps should be the budget conscious consumer’s last resort. Although many retailers are drastically cutting their prices due to the recession, high ticket items usually cost more than what you can find online or in off-price stores. Price compare locally or online, particularly if you’re looking for electronics or new “hot” items.

Let Gifts & Bargains Find You

Avoid driving all over town to find the latest must-have gift. Ask your kids to write a flexible birthday or holiday list -- not to expect to get everything they ask for. Don’t always shop for a specific item for each person on your list, instead browse online and off-price store clearance racks and then match bargain gifts for each person on your list. Shop the less “pretty” but more practical stores such as TJ Maxx, Ross, and bulk warehouse clubs like Sams Club, BJ’s Whole Sale or Costco. If you’re willing to go with last year’s goods, you can usually find the deals of the century.

Search Online Shopping Sites To Save Money

Browse consumer warrior Clark Howard’s site for ways to shop wisely and find the latest consumer shopping alert tips. Epinions is a good source for customer reviews. Google offers an extensive list of online comparison shopping sites.

Reduce the amount of time you spend comparing prices online by browsing only the “best of” sites. Forbes Web Review of Online Comparsion shopping is a good starting point. Price isn’t however, their only criterion. While Yahoo shopping gets a thumbs up for design, ease of navigation, trustworthiness, new features, user reviews and sorting flexibility, Forbes found Shopzilla’s prices generally cheaper.

Re-Gift

As long as you don’t re-gift to the person who gave you the present, there’s nothing wrong with recycling a never-been-used item. Be sure to re-gift far outside your circle. Don’t send your sister the hand knitted shawl your mother made or give your best friend the blue vase your cousin gave you if there's a chance they might see each other at the next party.

The dazzle of many gifts lies in the packaging. Buy inexpensive candles, bath oils, gourmet goodies, coffees, semi-precious jewelry, stemware, and stationary. Group items and re-package them in attractive boxes, tissue paper, gift bags or ornamental baskets.

Reduce Gift List

During the holidays, ask your friends and family if they would be willing to reduce the number of gifts they exchange. Agree to buy one gift, set a low spending limit, buy only for the children, or draw one name. Chances are most people will love the idea because it saves time, money and shipping hassles.

Give Creative Presents and Gifts from the Heart

If you’re creative, design jewelry, bookmarks, make soap, bake interesting artisan breads, or design and box homemade stationary. Write a “What I’ve Always Loved/Liked About You” note, a one page letter that conveys to a friend or relative everything you like/love about them. Don’t worry about being poetic. Just be honest, dig deep and stick to positive points. Use calligraphy or type the letter in a stylish font. Print the page on fine linen paper and place it inside an attractive inexpensive frame.

Set a Budget & Stick To It

Easy to say, hard to do, particularly when shopping for children. Sticking to a budget is like changing your eating habits. You must conciously trim the spending fat and avoid the temptations in the first place. Take credit cards out of your wallet for two months, or head to the stores with a pre-determined amount of cash. If you must head to the malls adopt a window-shopping only attitude.

With a little creativity and a new way of thinking about what gift giving really means (a small personal token of love or friendship), shoppers can avoid sinking into a credit crunch and mountain of debt.

The copyright of the article Save Money on Holiday Gifts With These 8 Tips in Personal Budgeting/Finance is owned by Laura Owens. Permission to republish Save Money on Holiday Gifts With These 8 Tips in print or online must be granted by the author in writing.